All Forum Posts by: Tom C

Glenn,

You may want to consider speeding up your power point. I fell asleep between the first slide and the second and then I had to start all over.

Also if you cut that price in half, I am game. :)

Here's another story.. I was called to home one time where there was a huge party going on. Apparently a few people at the party had gotten into a fight over a drug sale gone bad. Well the owner of the home was a dirt bag small time drug dealer. When we showed up, the owner came out and started yelling at us to get off his property and was trying to act all big and bad in front of his friends. After he threaten one us, we went to place the cuffs on him and of course he wanted to fight. We took him to the ground and the whole time he was kicking and screaming like a real bad ***.

2 weeks later I get a call to meet this dirt bags sister at his house. She didn't say why, she just wanted to see me. So I show up and she's standing outside the home crying. When I walked up to her, she asked me to step inside the house. I asked where her brother was and she said he was inside dead. I called for back up and went inside. She lead me to the back bedroom and he was laying on the bed with one hand on his privates and a crack pipe laying next to him. The best part was that this bad *** was dressed in woman's thong, bra and night gown. His hair was curled like a woman's and he had makeup on and there was a big sex toy inserted you know where.

Just 2 weeks ago this bad *** drug dealer was fighting with us and then we find him dressed up like a women masturbating with his toys, dead after getting some laced crack.

Needless to say, I took a lot of pictures of the scene. Strictly for evidence of course.

Here is an example of what HUD has accepted in Youngstown Ohio.. Keep in mind, this is in Youngstown and they are just happy to get rid of the property since most likely it has been gutted for scrap

http://nyny.towerauction.net/cgi-bin/dev_i1_28.cgi

What I was told is that you want to bid as close to asking price as possible. Keep mind that the realtor comissions come off your bid. You can see previous bids on their web site. On my first HUD, they were asking 26,5K and I was going to bid 24,5K and when my agent went to enter the bid, they just lowered the asking price to 24,5K and I then offered 23K and they jumped at it. Your broker should know close to what you will have to bid to get the home.

JCD,

All's good, yes please come back and tell us what you found out. We all could learn a few things from someone who has such a large operation.

Thanks

Wow JCD, I wasn't trying to knock your idol off the pedestal you've placed him on. Unfortunately or fortunately for us, there are a lot of bone heads that watch shows like his and think that he really is making 70K profit on that flip. Then they show up here and can't figure out why they are stuck holding a property and 10K in the hole.

Guess next time I won't point out such the obvious.

Have fun at your seminar

I have watched his show several times and its funny how they never account for holding cost and the team salaries at the end of the show. The last one I saw he made 70K on the flip, but that didn't account for CC, holding cost and the salary for the 4 people who worked on the project and there were several really stupid mistakes made by his people. I can't see how the dude makes any money other then with his show.

I haven't had to advertise at all. I had 3 people pull into the driveway while I have been rehabbing to ask about renting it. I had to take their numbers because I already have a person ready to move in Aug 1st. It seems like I built a client list of renters who want the type of properties that I am trying to obtain just through word of mouth.

Yes, I agree that size matters. This is an old thread. Since then I have gone directly to my local bank and worked a deal. I am still, like always in need of finanicing; however, I am working with a few leads trying to build a relationship in hopes of finding someone who has the cash to give me what I need when I find these deals.

Thanks

Sure, shoot me a PM and tell me what you have in mind.