All Forum Posts by: Terrance Merck

Marcus thanks for advice. 

i am scheduled to meet seller. He seems very motivated to sell. His asking price is $72000. He is willing to accept $59000 cash. The house is 3 bed 1 bath all brick 1789 sq. ft. Decent set up, needs $8000 to $20000 worth of work depending on what you want. Arv $105000-1200000. Home foreclosed and was purchased for 56000 in January. I'm looking to secure offer to buy contract. Any thoughts on how I should proceed?

i am scheduled to meet seller. He seems very motivated to sell. His asking price is $72000. He is willing to accept $59000 cash. The house is 3 bed 1 bath all brick 1789 sq. ft. Decent set up, needs $8000 to $20000 worth of work depending on what you want. Arv $105000-1200000. Home foreclosed and was purchased for 56000 in January. I'm looking to secure offer to buy contract. Any thoughts on how I should proceed?

Thanks. I will take all advice into consideration when I meet again.

i finally made contact with my first seller. She called back from yellow letter.  She informed that house is scheduled for foreclosure by the end of the month. She is unsure of all of what is needed and  will follow up in couple of days. She values house at $40000. Comps in area are between $13000 and $20000. I'm thinking more like $14000 depending on how much is owed. $2192 is owed in taxes. The house is vacant. Good condition. She no longer wants to rent it out. I'm looking advice on how should I proceed, if at all? All advice is welcome. 

Thanks in advance

i finally made contact with my first seller. She called back from yellow letter.  She informed that house is scheduled for foreclosure by the end of the month. She is unsure of all of what is needed and  will follow up in couple of days. She values house at $40000. Comps in area are between $13000 and $20000. I'm thinking more like $14000 depending on how much is owed. $2192 is owed in taxes. The house is vacant. Good condition. She no longer wants to rent it out. I'm looking advice on how should I proceed, if at all? All advice is welcome. 

Thanks in advance

Thanks Larry T. And Jared. I will use your advice. Larry after pulling comps I wouldn't pay much more than $16000. Jared I did check county auditor regarding taxes.

I recently received a call back for a destressed property in my area. The owner left a message concerning my yellow letter, so I take this as a sign of interest. I viewed the home to find that it is currently vacant and headed for foreclosure. It is behind a couple of thousand in taxes.  It is  a 2 bed 1 bath currently appraised at $45000 and seems to be in pretty good condition. How should I approach seller?  Im as tree as the grass in spring, so all input is welcome, particularly those with experience in said matters.

Thanks in advance

I am new to wholesaling and welcome all advice and insight.  I am in the early stages and seem to be on the right track in regards to finding houses and sending out information to owners. I haven't got any response, but it has only been a week, so I'm not too concerned. Knowing what is a good deal seems to be biggest hurdle so far. Any and all advice is welcome. Thank you in advance

Christopher did you have any luck with finding investors based on advice given. If so please share. I am a newbie and would like to know what has worked best within this time frame.