OfflineI did read that someone did not think sheriff sales are good deals for new investors. I am very interested in one that is two homes down from my mother's. Always was the block eyesore and would like this to be my first deal. I did do alot of homework on it already. Help me out with something you think i could be missin.. Thank Yu for all comments!!
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were you @ D?
YOUR HERO, SULLY
to walk through the property? ( inspection?)SULLY.
YOUR HERO, SULLY
It sounds like that addition/remodel that i herd was payed for with some kind of grant, may now just be part of the home loan itself. Which kinda sucks since I found they owe around 50k and really only think its worth 15-20 ish in the condition its in and the poor layout. Can a sheriff sales be ran more than once , think i have herd that or will the bank buy it and find a buyer if sale does not fly.. In the shape its in don't think alot of people will show up. But one never knows I guess!! Also hear she was given a list of thing she must fix up by village sometime ago and it was not done yet. One was a issue with foundation, which I really did not wanna hear. I wanna go ask if i can see it but i grew up with her kids and i don't know if its a good idea?? They did not take care of the place from day one. But it would be cool if i could clean the block up..
Look into it. That can't hurt. But don't bid unless you're confident of the numbers. And do a title search, too. That's one thing I didn't do and we ended up paying $1600 in back taxes and $900 delinquent sewage. It's not like buying an REO. They say "Buyer beware" because everything follows the new owner. Just be careful. But don't let me scare you from doing something you want to do. Everything in life is a risk. You'll do great in whatever you set your mind to. I can tell.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I do feel i could do alot with whatever I may get myself into and your supports great. I can tell you have alot going for yourself and you must love your job. Would like to make a job move into real estate/flipping someday..
And, yes, I love it, love it, love it!!
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Oh yeah no doubt! I usually offer 70% of ARV. Sometimes I add the repair cost to that but the 70% of ARV is (so far) never accepted, of coarse 60-65% wouldnt be.
D
Don't Wish the Past, Create the Future! - DH
So what are your steps to get an REO? Which lenders do you usually deal with? Maybe I'll give REO's another try...
Oh yeah no doubt! I usually offer 70% of ARV. Sometimes I add the repair cost to that but the 70% of ARV is (so far) never accepted, of coarse 60-65% wouldnt be.
D
You need to wait out the banks then.. They will come around. Im offering under 60%.
Hey! I can't say it loud enough! Absolutely amazing story! I just read this today. 23 April, 2009.
As far as I know everyone is in Phoenix right now getting ready to attend Dean's three day event. I'm supposed to be there too but I'm still up here in northern California wishing I was in Phoenix. I may show up there tomorrow (which means I'll miss the first day of the event) who knows.
But that is not why I'm writing this post. I am referring to Rina's sheriff sale property. That was one hell of a story!! Holy #$%#@!!! That's one hell of a story Rina. Wow! I know you learned a lot with that one. Thanks for telling us all the gory details!
But that was last year. I believe you are doing well with that property today. Congrats on that! You certainly paid your dues. Wow! Unbelievable story!
Got any other fascinating RE stories? Would love to hear them.
Hi Rina,
where do you find these Sherrif Sale Auctions? Are they listed in the loca newspapers?
Thank you
Prub
Hi Rina,
Where do you find these Sherrif Sale Auctions? Are they listed in the local newspapers?
Thank you
Prub