All Forum Posts by: Ellis San Jose

Door knock

I have passed on a few deals there. I would buy there if is was a deep discount.  I don't anticipate much appreciation in the coming years.  I believe they are more vulnerable to economic downturns than many other areas.  

There are motivated sellers at all price ranges and regions. Start in your own nearby area because you have a competitive advantage over others who won't know the area as well as you.

There is a distinction between SOL of a contract and a recorded deed of trust

https://static1.squarespace.com/static/56b904024d088e1674407dab/t/5ad1212c2b6a28134f80682e/1523654956873/April+2018.pdf

Good reading for Nevada Trust Deed Law

Do what you feel is right. If they reject your low initial offer, raise the offer with contingencies .  Remember the key is to open the door to a negotiation.  People freak out all the time about putting in an offer sight unseen. If you structure the offer correctly, it's no big deal.

In a strong sellers market this is typical. Usually you make an offer contingent upon a few conditions & then make price and term adjustments as part of the negotiation.  The listing broker is screening for a legitimate buyer for his client before he jumps thru any hoops. 

If you are thinking I will just send multiple offers at 70% of value on listed properties, I don't believe the market is ripe for that strategy. Especially, with listed properties,  your chances are slim in a competitive market. The probability of finding and creating acquisitions with a 30% discount are usually because the seller or the property has a problem that needs to be solved. 

1) Find deal

2) Get contract from seller example $100k (property worth $200k)

3) Assign contract to investor with your assignment fee added ex: $130k 

you make $30k, investor makes $70k

Direct mail ,deep local data diving