My first deal is an owner financing

If anyone does use Dean Willy ...
Please let me know the results.

I emailed him last month and he let me know there are fees to be paid upfront . That is illegal , so do not become a victim.

There are ads on here by the name Hocket , James Bone , etc . This guy is a SCAM for sure . I had a property lined up to close on Dec. 28th and he left me at the closing table with no funds and the deal fell through. He also walked away with about 1500.00 too !! Hard lessson to learn , but I did .

Remember , NO UPFRONT FEES to be paid before you are loaned the money to buy real estate.

Now, go out and start doing deals..

Randy S.
Elkton, MD

it's scam alert: Lenders from our classified ads/ services area it has lots of posts from people who have been scammed so you know what to look out for

also try http://www.moohlahlist.com/ there are so many lenders on there

I got my wings! lol!

yeah I saw that!but you have one more medal than me.. I found some deals in Indy last night foreclosures .. I will try and send you the link if I can find it again..head spinning!! I hope all is going well. I will try some of those links you sent me here. I went to moolahlist and tried several off of there and don't get any responses or I get them saying they only finance on CA.. go figure!

at least you did get a response from someone! I didn't even hear from any of the ones I applied too yet lol! I think I only got as far down as the c group though. That's funny that some will only do cali though. My internet has been messed up since thurs so i haven't gotten on much. They fixed it today. I guess the wind from those storms knocked it out of alignment. There's still around 5000 without power in south bend. Luckily our power stayed on. I definately don't like the humidity here. I still haven't heard anything about that second property, or my fixer upper loan. We did go to Menards and price out some things. Tomarrow I'm going to put in an offer on two different properties that I have seen up for sale for over a year so far. One of the houses the people have already moved out and a relative is staying there until it's sold. I have found a few different forclosures in Indy but haven't heard from any of them yet. I did hear back from one that would have to be a cash buyer, so I was thinking of wholesaling that one. Thanks for the link if you do happen to find it. I will let you know when I find out if I get the fixer loan and any deals I happen upon. Thanks

now you have the same medals as me!

I had seen another post that talked about Roberts Credit Repair Group. Can you give me any info on them? Did your credit score go up when you used them? Thanks

So far I have only heard from 1 hml that said they are considering my project. Talked to my realtor yesterday, she hasn't heard anything yet from a property I asked about owner financing. The property is already listed 65% below fmv, so if they don't answer then I will just make an offer on it. Haven't heard anything yet on the other properties.

Yes, we seem to have caught up on the medals! I have found several in indy looks really good on some of them, one guy on CL has 3 tow owner finance, but wants 10% down have you seen those?

I haven't seen that one. Don't laugh but I didn't think of looking on cl, I only thought of putting an ad on there. I haven't heard of tow owner finance. What is that? 10% could be good, or bad if the price is too high. I put out a rental ad on cl for the property I got in south bend and I have already gotten 2 or 3 responses. I also put a ghost ad on cl for 30-60% below fmv and 4 people have asked about the properties. Now I have to see what they are interested in so I can add them to my buyers list. I also have 2 possibilities of financing for my hard money loan or rehab loan to get the south bend property rent ready. I'll be calling one of them Monday morning to see what they say. I am praying one of them says yes so I can get this placed fixed and rented. If I don't have any luck I'm going to be calling construction companies to see if any have left over paint or drywall they want to get rid of. I'm gonna check out the cl ads and see what I find. If you are interested to see the pics I have of my owner financing property let me know.

go to www.rehabahouse.com

ok so I went on cl just in the Indy area and put in 20 owner financing offers so far. Gonna go on there tomarrow and put in some more. That was just the first 100 listings too. Now gotta see if I get any bites. Lol

sounds like you are doing great! I am working on a HUD forl. now with one of out very own DG family members! Keep me posted, sounds like we got something great going on.. I made a typo on my post that is why you didn't hear about it.. glad you were able to find those on CL I was shocked by the ones on there.. send me the pics! Were off to the races.. We will be at the EDGE next year, you can bet on it!

I hope so that would be so much fun. I even found 12 buildable lots off lake michigan beach and I asked about them for owner financing but the guy said he needs the money to settle the estate. It was a really good price too. Gated community next to the new nikelson golf course with private beach access. That's going to be worth a boatload in a few years. I've gotta think of a way to come up with that deal. Do you think 375 would be a good pet deposit for two house trained german shepards? I tried posting a thread for an answer but noone has answered me. The house we are currently living in had a dog that the owner didn't pick up after and we had to pull the carpet from every room and replaced it with laminate. Thanks for the help. That's my favorite thing about this site. There is always someone willing to help.

I have heard back from 2 of the owner financing offers and both said no, one is moving out of state and it's his mom's house so he wants to use the money to move her as well. The other is cash only.

ok I found another buyer to add to my list.

I think it is very fair. Pets are pets.. they tend to chew on things or scratch things, they are only animals, trained or not. I have 3 cats, so yes. I found some more cheap houses in Indy, got a mail today. Not bad. Did you get a chance to send me the pics of the houses? I am working with Zion prop. on a deal here now.. wish me luck!

I am on my way to finishing deal#2 with owner financing. This one needs no work!I'll keep you posted.

I sent some of the property I did get, I asked the owner of the house that's more than 50% under fmv, but he hasn't replied yet. I'm going to send him another email in just a bit. Good luck with your deal you're working on with zion properties.

you are doing great! how awesome.

We ran into a bit of a snare, but, only a road block.. I am actively looking and pursuing props. Feel like a lost ball in high weeds sometime, but hey, if it isn't worth working for, it isn't worth it..

Anything worth it is worth working for. Deal #2 looks like it will close in a couple of weeks. I have to put $550 down and pay for a credit check. I'll keep you posted on how that goes.

I offered 22,000 cash ,appraised @ 100,000 approximately 1 year ago,fmv per low zillow #,s 72,480-108,720 with medium being 90,600. .9 acres with 3/b mobile home.Owner has agreed for me to lock up contract with no money down w 90 days to get another investor to purchase from me.Owner just wants out. He has legal conservatorship pays all taxes etc. Possible problem , his sister has taken up residence on property and refuses to leave. She must be evicted ,but brother didn't want any more expenses incurred with atty fees etc.I spoke with a real estate atty. He basically said not hard process to get sister out , but may have to go back to court.Atty said about 30-45 days to get her out.But he doesn't want to be the one to get her out.Lets say I/ or my end buyer had to spend a 1000.00 to get her out ,and let her take the mobil home with her would this be a fair deal . I have no end buyer signed yet. P,S Rents for that area are low average 600-900 per month. Thanks in advance for any help..Chris

If you wanted to keep it for yourself you could try asking him for owner financing where you pay him a monthly payment for a set number of years and get the deed when it's all paid off. A standard rate is 6%, otherwise you could let her take the mobile home, but the land and house each carry separate appraised amounts, in other words the land is worth so much of the appraisal and the structure is the rest. Are there any other structures on the property? If you decide to go the owner financing route you could try talking to the sister and see if she would be willing to pay rent. Some areas when you buy property it's subject to tenant rights. Do you need an attorney to file for an eviction? Try talking to the sister and tell her you are buying the property and will give her 30 days to find another place to live. Explain to her that you aren't going to be renting it out, so you would be willing to give her the 30 days to make it easier for her to find a new place to live. I wouldn't give up the mobile home unless you really need to, especially if that's the only dwelling on the property. Keep me posted, if you have any more questions. I will ask around and see if anyone might have a better idea, hope I was able to help some.

A friend said, does the sister have any legal rights to the property or a rental agreement? Also said you can try offering her $1000 to move out if you find an end buyer. I agree with that, you can probably buy her into moving out. Money talks.

I would love to keep this property, but owner must have cash.As for other structures, there is a nice size shop on the property.The sister just squatted on property about a year ago, she refuses to pay rent.I will attempt to talk with the sister to see if she will negotiate moving for money.An eviction does not usually have to be done by atty, but since shes also an heir, the atty said may have to go to court.

negotiating for money is your best bet because if she takes the mobile home your property values will change. I think as an heir they would have to split proceeds, unless one has sole rights to the property, say it was left to that one person in a will. The same thing happened to my husbands cousin in California. He was living with a friend in a mobile home left by the mother when she died. When the friend died, the cousin had to move out because the sister moved in and wouldn't leave and he couldn't do anything about it because it had been left to the sister and friend, even though the friend had been in control of everything.

The sister has no rental agreement ,
the only thing at all that she has is squatters rights being a family member/heir to the property. I spoke to the atty again,I will try and offer her some money to vacate, otherwise my only recourse seems to be thru the atty eviction and court. This is also in California.Sometimes it seems like a big mess, I know the sister is counting on the deal to not go thru. I think that makes me more determined to see this thru.It's a great piece of real estate..