All Forum Posts by: Braden C.

Welcome to BP! What types of properties are you looking for in Orlando? I have two condos right now, was actually just getting ready to put them on the MLS. They are low end, nothing special. We should still connect even if it's not something you're looking for, I come across stuff from time to time in Orlando.

I am not at all familiar with the current seasoning laws. If we pay all cash for a property, how long is the current required time period until we can obtain a conventional loan?

If I am reading it correctly, the seller couldn't perform due to the title issues. Even if you were willing and able to close, it couldn't happen due to the clouds in the title.

There are always two sides to a story, but the side you told sounds like you should receive your EMD back.

I've bought numerous properties from Hubzu/Altisource and while I've always bought for a deal, they've always been a headache once I get to closing. The title company they use in India is HORRIBLE. I recently started making bids with the buyer choosing and paying title so I am curious to see how that goes.

I currently have an offer on a duplex that they've countered me on 5 times. My counter back has always remained the same. Their latest counter was $61k, I rejected and sent a counter back, 30 minutes later the price was reduced on the site to $56k. My offer is $48k and is well within reason, maybe even a little high.

Last month I bought a lot that they had listed for $12k, I offered $1,500, they rejected and 3 weeks later came back and asked if I would still take it. I did and it worked out to be a good deal for me, especially since there was a $1,250 commission :).

Since you're someone who hasn't done a mailing before I would suggest 250-500 per week to get started. There are plenty of templates on the web that you can use for your letter but you really need to critique yourself after each call. After a couple of hundred calls you will know what to say and what not to say. Reflect on each call and ask yourself at what point did the conversation get go in a good or a bad direction. That really worked for me when I was starting out. The first few calls will be terrible because you're so nervous but don't worry, they get easier.

I am to a point now that 99% of the time I can tell within the first sentence from the caller if it's going anywhere. I have certain buzz words that I love like, "it's a tear down" "I can't take being a landlord anymore" "I haven't seen it in years" "I just inherited it" ect. I know that I can almost always turn these into deals.

My favorite is, "it's the nicest house/condo in the entire neighborhood" Those sellers will NEVER be a deal for me. I hear this at least 3-4 times per week.

They're illegal almost everywhere and there are much better, and professional, ways to build a buyers list if that's your purpose.

If your list is good, I wouldn't expect more than 1 or 2 deals from your mailing of 1,500. I send out 1,000 letters per week and am pretty darn happy if I get 4 letter deals per month. I count on other sources to provide the rest of my deals each month.

Good luck!!

I am not sure about other states but I know on the Florida FAR/BAR as-is contract there is the option of allowing the buyer to assign the contract but still be liable or assign the contract and be released from liability. Of course there is also the option to not allow the buyer to assign the contract.

Oh, that's fine then. Yes, you should send the original contract to them. I always give a copy of the original contract to the person I am assigning the contract to.

What type of loan is he getting? I've never seen a bank approve a loan with an assignment. Not saying it's not possible, but I've never seen it. I've had a small community bank say once that they could do it but as soon as it got to underwriting the deal was killed.

Best $50 I ever spent was on a lock pick gun. I mostly use it when out of state sellers say they don't have a key and neither does anyone else that they know of. It's come in handy more than once when keys "disappear" from lockboxes as well.