All Forum Posts by: Dean Letfus

Providing you have good liability cover and make sure you cross insure with your property manager why worry? We have 1 million of our own and 5 million with our PM. They have never had a successful suit in 30 years so it is a pretty notional only risk right?

We are generally bidding 5% over asking and getting beaten more often than we win :-(

I always tell the truth. In most markets the sellers are delighted just to know you are buying. I have assigned nearly a dozen deals in the last 2 weeks from private sellers with no problem. I am able to close them of course. I used to teach people to get stuff under contract and drop it if they couldn't assign but I think in the current economic climate you can do too much damage to the seller if you do that. Overly ethical? I don;t know but I can sleep well at night by disclosing.

IF you have buyers isn't it better just to flip it and move on to the next one. The extra $$ you may get are offset by the extra communication required. I personally opt out of any bid deals, it usually ends up being a waste of time.

General shout out to anybody wholesaling in Memphis. I need additional SFR's duplexes and notes. I have more buyers than houses. Can look quickly, all cash and can close in a week. Singles, packets, if you're selling and the numbers make sense I am buying. Dean

(We are currently closing over 10 homes a week so we aren't just blowing smoke :-)