Possible first two deals

later on today to discuss the two properties he has up for sale and look at both of them. One of the properties I have already looked at and will be discussing the repairs that need to be taken care of before I can even rent this one out and the other one is already rented to a good tenant he said. Am trying to get him to do owner financing on these properties for a little while and then try to refi them with my bank after I get with them and see if they have seasoning requirements on any type of property before I can do a refi on them and see how much I can manage to cash out on as the properties are being sold well below the fair market value but keep the cash flow amount within a good limit too. Them I am off to look at another property that has already been renovated which is a 2 br 1 ba property in a nice location going for 35k with a fmv of 49,500 which is listed with an agent and see what kind of a deal can be worked out on this one as well since this would be a great rental too with a positive cash flow.

Shawn

It seems that the deals are out there all over the place. It's finding the buyers that's the hard part. Ghost adds equal no response. Time to try a new angle.

I do have a couple on my list that are buying properties in this area and are looking for these types but you have to have an exit strategy and a backup in case something goes wrong. If the owner will not do owner financing then try a lease to own option. Mentioned this to the owner and said he would think about it and let me know. If not interested in this either then I am just going to keep moving on. Went out today to look at a nice property as well that would make a great rental with no work needed compared to one of the ones I just looked at and is in a nice growing town too so the opportunities are there, just have to get out and look even though in some areas the gas prices are high too. My wife looks in the internet for some that would be nice and then while there drive the area and that is how I found these fsbo just like today I found another one that would be a great rental too if the other one that is listed with an agent does not work out.

Shawn

one just cannot give up just keep on trying and put time into things to
see how it all comes out.

The beginning,none of it came out. The seller wants cash at closing and that is it and he is even in a hurry to sell but cash only. Several people have asked about his property and all asked about owner financing and the same answer, cash at closing. No desperate sellers here in my area in texas at all even though they want to sell quickly but do not consider any other options but cash.
Does all this stuff work makes me wonder, still no luck yet here in north east tx.

Shawn

Stop looking at deals and build your buyers list first. Go back to step 1.

Buy "30 days to RE cash" and follow it step by step.

For that info, I have been doing this as well and not much luck either, will have to get a local paper on the weekend in call the ones with rental properties and see if they are looking for more properties to rent out. All I have is one in the area and that it is which is pretty bad.

Shawn

Hi Shawn,Network, network, network, network, Jim ( hey your moving and thats great! )

Shawn and you are bound to find a deal somewhere!

about wholesaliing them. Use transitional funds to buy, then pass them off to another investor for a fee. Seller gets his cash. Investor gets a deal. You get a fee. Then, move on to other properties. If you want to buy and hold, there are deals out there. It might take a while to find the right one, but don't get discouraged!

Sandi C.

I agree with Sandi C.
Don't give up !!
It will happen for you !
Even if it takes a while to put things all together.
Stay positive. !!
Sounds to me like you are very close to getting a deal done !!

good work on finding a solution for these deals! keep up the good work and you will soon close your first deal and then the next one will come.. then the next, so on(:

are you working with a realtor,they help alot when trying to find investors.
Good job finding deals but you need the end buyer first to pass on the deal,

Matt B

Buy the book "30 Days for Real Estate Cash" and follow it to a T about how to find an investor friendly agent.

Then once you find the agent,

Have them pull a list of every property that has SOLD for CASH in the last 90 days in your area.

Once you have that list, look up each property address on your county website or down at your courthouse.

Look up each address and look for the properties that have a different tax bill address than the property address.

Once you find all the once that have a different tax bill address, send them this Cash Buyers Current Owner Letter template:

www.deangraziosi.com/powerletters

For the comments and help. Lane yes I do have the book you mentioned and have read it several times and working on what it says in it as well. One of the main things I am working on is my time as well due to my work schedule I have and my daughters graduation coming up from high school and then she is going to college so trying to get her stuff for this ready too as for scholarships and the like takes time too along with getting her acceptance to a college here in the area she wants to attend.
Seeing how our county clerk does not have all the info needed in the internet I have to take the time to research this in person at the county clerks office along with other things as well I am having to try and find ways to work this in too before going to work because after work is 2 am for me.
I am trying to work in areas to where all this info is available online but still with in a good driving distance as well if I have to drive any where to see the property or meet the buyers and such too.
I know excuses do not help as well and I am trying to get around these also to make things happen so my main concentration now will be on getting a buyers list first as I have a list of places to get motivated sellers and know of properties too but my main thing I have to work with is my time and work schedule.

Thanks for all the input here on this site from every one.

Shawn

I know I will make it and I know it is going to be hard but there is something pushing me to pursue this and to continue on no matter what comes my way.

I think that you may still make something about these houses; have you agreed upon a price yet? ask the seller what is bottom asking price is if you pay cash within 7 days; if the numbers work, then you could put together a cash buyer with a tenant buyer, pay the owner with the cash, get your fee, and everybody wins!

just remember to never, never, never give up!!

I have discussed the rock bottom price with the owner about his two properties he has and is very little from his asking price, so to say 1k below what he wants is lowest he can go but wants to get rid of them. With the needed repairs on one the price is too high to do much with and the other one is already rented out and he has said this one is in better shape as the current tenant takes care of it. There is very little room for any thing with his asking price to do much with it, he has had these properties for some time and has made money off of them but also has to make payments on them too. I think he is selling them for what he paid for them 7 yrs or so ago.
Several people have asked about one of them all was looking for owner financing but he had said no to this and said he would think about lease to own with no answer to this one either.
Instead of wasting too much time on these it is time to move on as time is to valuable to waste as mine is very limited right now and this person has my number to contact me in case he changes his mind.

Shawn

As I walk through the valley of real estate investing I shall fear no evil of those that say I cannot do this.

Even though it may not seem like it you are definitely progressing. I remember the posts you used to post. Now you are looking at properties and talking to sellers.

Did you look up the ARV on these houses or just go off what he was asking? Some people have "no clue". You never know, he may be the one in thousands who is asking below value...

Karen

Remember a lot of the posts from earlier times, I am having to put more in this when I can as much as I can. My daughter got accepted to college today, made us so happy so I am now having to keep these costs in mind too. Yes I did all the research on this as well and the selling price and arv actually is pretty close together. There is not much room for anything on these properties believe it or not so the only option is to rent and hope the value would go up some in the future. I did all the research on these two properties and he is wanting right at the value and he knows this and uses the reason for still having to make payment on the properties.

I still have another property in mind close to where I live that still has not been sold and made an offer on it but have not heard from the person selling as she said she would have to discuss this with her kids. Well time has gone by the house has been empty now for 8 months, grass growing up and the like. the one next door supposedly was under contract, realtor sign gone and the grass just as long as the one beside it and they were wanting I think it was 20k under tax value which is close to the appraised value. Will be sending out a card to the owner to see what is the deal on it too. It would make a good flip as it was supposed to of been under contract one week after it was marketed but sign gone and no sign of any one moving in.

Got to take action on these two before they get away from me and give my buyer in the area a call and see if he would be interested as they would make a great rental as well and is in his price range.

Shawn

Congrats on your daughter getting accepted to college! I know you are very proud, as you should be.

Karen