I have an inside source that will provide me with a list addresses for homes that the lenders have requested a BPO to be performed. Does anyone have any good go by letters to send to potential customers to attempt to do short sales??
I use "I Buy Houses" direct mail, about 2000 per mailing. I am a realtor in addition to being an investor. Each mailing produces at least one deal for me at bargain wholesale rates plus two or three listings for those sellers who want to sell at full retail value.....
I may be way off here... But the idea is to buy these properties at less than 50% value...
It is our job to convince the seller/lender that the amount we are willing to pay is a good option for them as well.
Two days ago I bought a 3/2 for 15k.... 1 5 ... Everytime the seller said somehting bad about the house the economy the weather the price went down...
Investors forget that negotiation skills are one if not the most important quality to have when dealing in reduced priced real estate.. If you cant master that then your only option is to pay a realtor to sell a property to you that is way over priced.
I take over payments on homes that are about to go into forclosure. But I am having a very hard time actually finding the deals.
Does anyone out there have any suggestions???
I have 2 major ways these days.
Government filing (NODs, BK, etc.)
The MLS (old listings, hiddent value in listing).
Quote:
On 2007-10-14 21:23, cjmazur wrote:
The MLS (old listings, hiddent value in listing).
CJ, could you explain what you mean?
Try Criss Cross or Win2Data from Hanes Company
Typically ugly ducklings that people over look.
There was an REO listed for ages at 350, then 300, then 260, then 229.
At 229 it was a steal.
I find properties from many sources and run the numbers through my MAYO formula and poof... the deals appear.
The Formula is the Key!!!
I have an inside source that will provide me with a list addresses for homes that the lenders have requested a BPO to be performed. Does anyone have any good go by letters to send to potential customers to attempt to do short sales??
I use "I Buy Houses" direct mail, about 2000 per mailing. I am a realtor in addition to being an investor. Each mailing produces at least one deal for me at bargain wholesale rates plus two or three listings for those sellers who want to sell at full retail value.....
I may be way off here... But the idea is to buy these properties at less than 50% value...
It is our job to convince the seller/lender that the amount we are willing to pay is a good option for them as well.
Two days ago I bought a 3/2 for 15k.... 1 5 ... Everytime the seller said somehting bad about the house the economy the weather the price went down...
Investors forget that negotiation skills are one if not the most important quality to have when dealing in reduced priced real estate.. If you cant master that then your only option is to pay a realtor to sell a property to you that is way over priced.
Michael Quarles
I take over payments on homes that are about to go into forclosure. But I am having a very hard time actually finding the deals.
Does anyone out there have any suggestions???
I am looking to flip the properties.
Thank you bayrealtor_510 for you advice.