All Forum Posts by: Andy J.

Bryan is absolutely right. Some people are not even worth dealing with. You're offering very favorable terms to a buyer (too good if you ask me, assuming $250k is a fair value) so they should be bending over backward and giving you everything you ask for and more.

Your question is not clear, what "game"? Are you asking for someone to check your math???

I have not, but have you tried searching the Better Business Bureau? Secretary of State? SEC? With some more detail in your post you may be able to scrounge up some insight from others.

I have a deal that may be closing in a few weeks and there is a lien against the property from an old judgement. I would like to see if I can purchase the rights to a judgement from the creditor. I have a 1 page transcript of judgement and all it says for the creditor is:

Bank One Delaware NA

I called the collection law firm and they won't sell me the rights, they won't even give me a contract phone number to Bank One Delaware NA. I could use a little help here on finding a way to purchase the rights (hopefully at a discount). I figured you short sale/foreclosure guys probably have some experience here. Heck, I'd even pay you to negotiate the purchase, I just don't have a lot of time right now.

Most likely it's a combination of the two. I don't use hard money very often but they are always on the low side of comps which obviously puts them in a better position should you not be able to follow through.

Never ever rely on your real estate agent for comps, they make money by getting you to purchase. I don't care if they're friends, family, if you've known them for 50 years and they've done rehabs themselves, never!

If you're looking at comps from 6 mo. ago then your number will likely be inflated, things have changed a lot since the tax credit went away. There are plenty of 'how to' resources on this forum regarding running comps, take some time to look through the posts and hopefully you'll be able to determine the tru ARV.

When you say "smaller rehab", do you mean you're doing a rehab on a small house? Or that you're doing a smaller amount of rehab, as in light repairs and cosmetics? Is this going to be for a retail sale or a rental property?

It's illegal to tamper with any signs, regardless of their content, it's vandalism.

I'm with Steve on the political signs, they are not government property. Otherwise I would put "Vote for Ross Perot" on the back of all my signs in 12 pt. font and video tape the people slashing them.

Gabriel, are you sure they're illegal in your farm area, or are they just against city code? There's a difference.

They are against city code in my area certain times of the week and in certain locations. I have never been fined, but as Jon stated, we have to deal with the CAUSS folks too in my neck of the woods. Funny how they never seem to slash the political campaign signs?!?!

So if I understand this correctly the gentlemen you're dealing with is in the middle of a sandwich lease/option, is that correct?

If you're going to try to receive an assigned lease/option and then sell it retail you're going to have a difficult time making any money. How long is it going to sit on the market, what are you going to pay a real estate agent, how much in concessions will you make, what repairs will be required after an inspection, how low of an offer will buyers throw at you this time of the year, not to mention what issues you may have with the tenants moving out, i.e. security deposits, option consideration, eviction, repairs, etc...

You'll be taking substantial risk for a very small reward (if any). Unless you're willing to sell on a lease/option a.k.a Rent to Own then this is probably going to be a PASS.

Lots of people have action figures these days (whether or not it was their idea is another story). I've seen Stephen Hawking, GW Bush, and Bernie Madoff action figures.

I'm sure you can have one made of yourself if you're interested :) What do you think would come with a real estate investor action figure? Bandit sign, eviction notice, and a home depot credit card?