Credit challenged buyers???

[Matthew Paetz]

What's your intentions with credit challenged buyers?

Do you have an exit strategy for them?

Is there a fortune to be made?

[Frank Adams]

I guess most of my buyers have been credit challenged. I NEVER ran a credit check on them (of course this was in TX where foreclosures can be done in less than 60 days), collected a cash downstroke, did the documents myself (and charged for them) had my bank lady notarize the docs and charged a not usurious interest rate.

I've done well over 50 of these and gotten a few of them back. I made more money on every one of those turnovers too.

The buyers that my ads tended to attract (2/2 in running rat acres, owner will finance with $2,000 down) pretty much guaranteed that they didn't care about price (NONE of them ever offered a lower price, and most of them never asked about price), interest rate or terms. They were like people who walk onto a car lot and tell the salesman, "this is how much we can afford per month".

I don't know about a fortune but I quit work in my early 50s with an income about 3 times the average.

Frank