Finding the niche

4 Replies

Well my partner and I have made good progress our first two weeks. We have turned to BP for many things podcast, calculators, and forums all of which have been really helpful. So we were not able to get the home owner to accept the contract he backed out on the day of the signing. His reason he at that moment decided he wanted more of money in hand deal. Which lead me to my point I think he wasn't motivated enough so we are no looking at pre foclusures people with equity and 60 days or so in default. Just wanted to share our journey and any advice is welcome.

On the deal that fell through, could you expand on the type (house?), purchase price, and down payment/terms?  I'm sure we could help analyze better with that info @Curry Forrer .

I have invested in pre-foreclosures as well.  In my experience those are value plays, but require quite a bit of money to catch up the arrears and lots of title research experience.  Not saying you shouldn't do it, just something to be aware of.  Thanks for sharing! 

Originally posted by @Steve Vaughan :

On the deal that fell through, could you expand on the type (house?), purchase price, and down payment/terms?  I'm sure we could help analyze better with that info @Curry Forrer.

I have invested in pre-foreclosures as well.  In my experience those are value plays, but require quite a bit of money to catch up the arrears and lots of title research experience.  Not saying you shouldn't do it, just something to be aware of.  Thanks for sharing! 

Thanks Steve The house was listed 244000 we agreed on 215k he had VA loan and owned the house for 6years so he had some equity in the home. My partner and I we're going to place the home under contract for 35 days and bring the home to some cash investors for the sale. Doing a double closing and taking our cut.

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