Select a State · Member since 2009 · 156 posts · 17 votes
I'm just a little disappointed this morning because I found out another of my low 50% rule offers was rejected. This is my 6th rejection in the last 3 weeks. I was hoping that this one would get accepted because I really liked the location. I am beginning to get frustrated. I guess if it was easy everyone would be doing it.
The houses that I have looked at that I feel I could get in at the 50% rule are either rougher neighborhoods or in terrible condition (yet rented).
Do you guys think I should go to a boot camp seminar or something asap?!?
Edmonton, Alberta · Member since 2009 · 32 posts · 1 vote
17y
So you're trying to get property for 50% off the purchase price? I'd say that might be difficult in any economy. Sellers that desperate are in foreclosure situations or sell out to those home buying companies, or to their realtors. I'd say go for 25% off you'll get more yes's.
Investor · Lehigh Valley, PA · Member since 2008 · 97 posts · 38 votes
17y
Originally posted by Matt H:
So you're trying to get property for 50% off the purchase price? I'd say that might be difficult in any economy. Sellers that desperate are in foreclosure situations or sell out to those home buying companies, or to their realtors. I'd say go for 25% off you'll get more yes's.
50% off the purchase/asking price? If that we're so your right Matt. You should be making offers of 50-65% off of the ARV based on accurate and good comps from the neighborhood. Good meaning already rehabbed properties, not ones that are in the same condition as a fixer upper. Even off the MLS the asking prices are sometimes at 70% of the ARV if they are fixer upper's and in this market it's shouldn't be that difficult. Just make sure you are staying conservative on the ARV's.
Real Estate Investor · Austin, TX · Member since 2009 · 75 posts · 38 votes
17y
What are some of the top 3 ways that people on here are FINDING the motivated sellers in the first place? How are you making them call you? What type of marketing is most effective to get the phone ringing?