All Forum Posts by: Stinson Bland

Chris,

I have a nice form that has most, if not all, items to look check when making an offer. It also has local (Dallas) investor pricing for every repair cost or replacement item. I'll email you a copy tomorrow. I'll send it to anyone else that's looking for a copy, just pm me you're email.

I'm proud to say that I was able to wholesale this deal in less than 4 hours and I made a really nice assignment fee (2nd largest ever). I sold the house to a good friend of mine that's a fulltime rehabber. He is a third time buyer and was fully aware of my original purchase price.

Jocelyn Thompson,

As Don said, most cash buyers have already identified the deals that are online.

I'd spend the next few days studying the art of marketing for motivated sellers. I use the advertising that's provided by HomeVestors but I also do a lot of my own direct mail. I send post-cards and letters to the following list: expired listings, absentee owners, free and clear, and probate.

Visit the Marketing section of BP and start reading.

Good luck!

I'm not sure where you are located but you might want to check to see if investway.com is available with your MLS data.

I believe this is the thread you guys are referring to.

Great work Josh... that is mass exposure.

Hello all,

I am in need of some advice regarding purchasing a property subject-to an existing mortgage. I have a buyer that is very motivated but she wants more than I can offer if I have to take a HML to do the rehab project. I've spoken to her several times about sub-to and she likes the idea of making interest.

Here's the deal:
ARV: $160K
Existing Mortgage: $60K
Existing Monthly PITI: $1,500.00
Purchase Price: $85,000
Purposed Sub-To Loan: $85,000 - 0 Down - 8.5% Interest
Monthly Sub-To Payment: $1743.90
Estimated Repairs: $24,800.00

My goal is to make monthly payments while I rehab the house and payoff the $85K once the house sells. I'm estimating that it will take me 1 month to do the rehab and the DOM are 85 to sell. So I think it will take a total of 4 to 5 months to fix and flip.

Here are my questions:

On paper does this look like a good sub-to deal to you?

Can you point me towards some information that covers structuring sub-to deal/contract.

Thanks guys!

I bought 100 bandit signs when I first started and I put out 10 to 20 every Friday. I received roughly 30 calls from the 100 signs but none of the calls lead to appointments. I personally feel that my money and time is best spent producing direct mail campaign.

This is a great site and you can typically find anythign you need to know about REI. Welcome!

I'm waiting to get my first batch of Probate Leads this week and I'm excited to see what kind of deals I can pull. I've bought inherited homes in the past from mass advertising and both deals had a great spread.