All Forum Posts by: David Tower

All,

Ok it was my fault for not providing all the details but man a lot of you sound jaded. Also Sunny Gardner you've been here a month and you're calling me out for posting in the wholesale forum? Lighten up Francis....

My planned exit strategy is wholesaling (as most of you know) but this doesn't fit the cookie cutter deal mold.

Here's the whole story. I'm not being conned but I understand the apprehension. These are good people. I've been speaking to the wife (co-owner) for a month now. She is a sweet older lady (very smart and sharp though) that I've built a lot of rapport with. Her husband is overseas. She is getting over a severe injury and was back in the hospital for 10 days recently.

The tenant is a relative. It is grandparents taking care of grandchildren because the parents are out of the picture. The kids are thriving in their new environment and they don't want to move. The owners are sensitive to this and don't want to displace them. I'm not being blinded by dollar signs in my eyes. I've spoken to the wife for probably 2 hours or more over the past month and I guarantee you she is genuine.

I spoke to the husband (co-owner) for the first time last night. He skyped me from Iraq. If they sell, he can stop doing the job he's doing over there and come home to be with his recently hospitalized wife. That is why he wants to sell now. (not because they are pulling a fast one) They wanted to give the tenants a chance to get a VA loan to buy it, but they can't get financed right now.

It might come down to them figuring out which they want more, husband coming home or tenants staying in place but I'm sure there's a way (albeit a creative way) to achieve both. I'm thinking maybe if I can get the owner's enough cash now that I could have them owner finance it to me and if I'm cash flowing I could keep the tenant in their for say, a year, and if they can't buy it then I could rehab and sell retail at that point.

These are ex-military people. They didn't want to deal with some fast talking, pushy homebuyer which is exactly what I'm not. I got to know them and their situation and they appreciate that. I realize I'm not a guru, but even I know that people want to do business with people they like. (and no, they aren't all scam artists and felons).

Again, I realize I was asking for skepticism by only providing part of the story. I appreciate everyone's input.

This sounds like a purchase and then a lease option but I'm not exactly sure. I plan on bringing in a local expert but want to get BP's take on it.

Here's the details

owner needs to sell. lets say it's for 100-110k
owner's relative lives there and he only wants to sell if they can buy the house from me at some point in the future (6 months maybe) when their credit is better.
They don't need me to fix up the place and the tenant buyer would pay maybe 140-150

The current tenants would remain in the house. I may be able to line up conventional financing for my purchase. I don't think the house is worth even 140 with no work done to it but the tenants really want to stay there and would pay a premium (supposedly).

The owner's like me. they said they've been approached by more agressive people and were turned off but that I impressed them. I like them too they seem really nice.

How would you structure a deal in this situation?

Thanks

Interesting, I was just playing around in the godaddy site builder and found this. All my pages were set to 0.0 so I set my homepage as 1.0

Priority
Priority tells search engines how important a page is relative to the other pages on your site. Changing priority does not affect how often a page is crawled by search engines. Priority can be a number between 0.1 and 1.0 with 0.1 being the lowest and 1.0 being the highest. Your most important page (likely your Home page) will have a very high priority (1.0).

I also added some key words to my homepage and changed the title of my home page

Hi folks,

I'm hoping a web savvy person can help me here. I'm pretty sure there's a way to do this. My website is starting to get ranked but google is linking to one of my secondary pages rather than my home page.

Isn't there a way I can tell the search engines that all my secondary pages on my site should be linking to my home page in the search engine results pages?

Thanks

Hi Richard!

I'm a member myself. When I joined it was only $600 for a lifetime membership so I sprung for that. I'm sure many out there will say it's stupid but I was willing to invest a few bucks in my education.

Honestly, Sean provided so much free content in his podcasts, I was happy to give him my business and I'm glad to be a part of his group. He really is a stand up guy.

Make sure you join the facebook group if you haven't already it's honestly much better than the online forums.

Good luck with everything!

Man, working at an investment company during tax season is energy sapping.

I'm really trying my best to stay on top of things but I know that I'm not quite at 100% right now. 8.5 hours at my day job of constant (and I mean constant) go go go with 5 people asking me questions, 5 more people instant messaging me questions all while trying to do my own work, no lunch break, etc is the main reason I want financial freedom.

I did just complete something important that I've been putting off though. I went through and documented everyone that's called me so far and decided who to call/text as follow up.

numbers so far:

YL sent- 460
Responses - 40 or 41
Deals - zero (still working that one from week 1)
Also working two separate bird dog possibilities

Question - Has anyone had any luck mailing to absentee owners in California? I'm considering striking them from my list. It just seems like they all have money and aren't motivated.

Yeah she was clear that she was not interested in a sub2 or "anything creative"

I'm in the process of trying to bird dog them to make a new friend out of the deal

I knew it! I just spoke with the owner of the deal I've been working for the past few weeks. She was in the hospital but she's doing better. I bet you all thought she was dodging me right?

Anyway she's going to call me Friday or Saturday and I'll know if we can procede.

Calls have started to come in from Saturday's mailing. A 3 house package deal where the owner owes a bit too much, two people that weren't interested in selling and one guy who was 10k too high so far.

I REALLY need to make my next priority organizing everyone that's called and deciding whom to follow up with and who i'll be mailing to again. I need to do a better job getting that info on the phone with them and making notes as soon as I hang up.

I just spoke with a nice gal who has 3 properties to sell. She owes about 75k on each and at most they are worth 100k, probably a bit less. They each rent for 1k and she won't take less than she owes plus closing costs.

I just need someone to tell me to stop working the numbers until the numbers work and move on.

Thanks!

I just realized it's been a while since I've been on BP so I figured I'd give an update.

As of last Monday I'm now getting up at 5 a.m. I decided over the weekend I'm going to use the extra 90 minutes in the morning to work on marketing and work out. I've been upset with myself because I used to be in the gym 4 days a week before I started marketing and since then I've been a total of once. I'm scheduling myself to go 3 times a week after work and will do a little in the mornings also.

I've had one setback that was a little deflating but I'm not giving up. I spent all last weekend planning on how I would dominate my craigslist market. I thought I was soooo slick. I had different accounts, different ads, different HTML so I'd have free reign and post 4 times a day blah blah. Well that didn't work. I kept getting blocked. Deleting old posts and reposting didn't work either....blocked. I'll figure something out but I'm not about to keep getting new phone verified accounts.

I hadn't mailed any YL in over a week, but I dropped 140 over the weekend and will send my final 110 tomorrow or wednesday. My new plan will be to up my output to 200 per week. 100 follow up and 100 from a new list.

After work I'll be learning about and implementing SEO tactics for my website. I'll probably have to change the site to be more key word friendly. I also need to order business cards and make a plan to contact the people in my circle of influence. (or follow MQ's plan)

Oh I almost forgot...the deal I've been working is on hold because I can't reach the owner. She is not dodging my calls, she's just not home. I've called different days and different times of day. I think she's either on vacation or back in the hospital. I'm going to send her a card which got me thinking that If I'm working a deal that could last several days or more, I will start sending thank you cards to those prospects.