All Forum Posts by: Steve Dussault

I know an investor that buys a lot of HUD properties. He usually offers about $5k lower than what he's willing to pay. If HUD rejects his offer he raises his bid $1k and submits it the next day. This repeats for 4-5 days until he either gets the property or stops raising his bid.

Uwe, you only lose your deposit if you win the auction and you can't close. If they reject your bid your deposit is returned.

Bradley, forgive me if I am skeptical, but why would they accept your offer for a given price, but not accept the same offer from me? You'll have to provide a few more details. Thanks.

I wanted to post a follow up on this. For people that you can't find with free resources Peoplefinders.com can help. I think that this data base service is worth the money.

If that doesn't work I did try findtheseller.com and had success. Their reports are more expensive so you'll only want to use it on a house where you are sure there is a deal to be had, but the report was extremely detailed and allowed me to find a very transient owner.

Just my 2 cents worth, still interested on the opinions of others on this topic.

I did some digging around on Indiana's state website. There is an exemption from registration for mortgages under code 23-19-2-2, but "a general solicitation or general advertisement of the transaction" can not be made. I guess I'll have to rely on word of mouth.

Thanks for everyone's suggestions.

I'm working that angle too, Bryan. I am starting a REIA in my town as there isn't one here now. It's in Lafayette, IN. Metro area is only about 100k so there isn't one here already. We'll see how that goes.

I have tried getting referrals from the two private lenders I've done successful deals with. I did not receive any referrals. Either they don't know other people willing to lend or they don't want those people competing for my business.

I'm an experienced investor and am looking for private lenders in Indiana. I have had some success finding money through people I know, but am looking for more money now.

I would like to do some marketing for private lenders and am wondering if anyone has tried it and if they have found any good techniques. I'm thinking of post cards or online campaigns targeted to CD investors.

I'd like to discuss things with anyone with any tips on marketing techniques, prospect demographics, success rates, etc. Thanks!

Hi everyone!

I'm forming a Real Estate Investor Association in Lafayette, IN. Anyone with an interest please give me a shout out.

Even if you are not interested in joining an association, I'd like to get to know you to see how we can help each other out.

Looking forward to hearing from some fellow Hoosiers.

Steve

Theoretically, this should make the banks more willing to do short sales. Anyone seeing bigger discounts on short sales due to this mess?