All Forum Posts by: Charles Jones

Admiral Title and Reliant Title both know how to do assignment contracts/closings

Way too high. Like Jason said, it's not a bad area but not the best either. No investor that I know/work with would touch that. Per the description only 3 of the units have been updated, so immediately you know one of the units needs attention, and one of the units is a 1/1. I can't think of any of the guys I know that would pay $62,500 for a 2 bedroom, much less a 1. MAYBE if it was in W Knoxville...but even that's pushing it. The guys that are looking for rentals around here (in that area) are looking for something around $20-25k/room (not unit but room, and that's if it's rent ready) so they would want to pick this up at $140-$175k and maybe even less than that depending on the unit that still needs updating. A less seasoned landlord might pay $200-225 but not $250k unless they're just cash rich and are desperate for something to roll their money into for tax reasons.

@Heather Bettis I will help you wholesale it if you'd like. Most of my buyers are here in Knox county and not sure if any of them would be interested in Monroe county, but a lot of investors may not care about the location as long as the #'s are right. 

I'll send you a colleague request and if it's something you're interested in just let me know.

@Chris Rusoff here is an example of what I send to my buyers list when I have a property under contract.

"I am a principal party in a valid and assignable Purchase and Sales Agreement which allows me to purchase 123 ABC St. I am offering this Purchase and Sales Agreement to another cash buyer as to allow you the opportunity to buy this home."

Benjamin Barredo most of the time you have to show proof of funds before they will even let you bid.

$3/line per month plus credits (minutes)...100 credits is $5 (you can buy in just about any increment). The more you buy you do get a little bit of a savings.

@Benjamin Barredo I've been using Callfire and had no problems with it. Not really sure how it compares to Vumber or any other because I haven't tried them.

@Benjamin Barredo don't sweat this call, just learn from it and move on. DEFINITELY follow up with him...heck I'd even consider mailing him an offer letter, something like "Thanks for talking to me, here's a cash offer for you to consider." Of course, you can make it a little more personal and detailed, but you get the idea. You'll make mistakes, that's fine, just keep going.

Tip #1...Don't let them (potential sellers) know you're a broke newbie. However, you also don't have to act like you're an experienced real estate investor that has all the answers.

Also when you do get a property under contract, market the contract only. Do not market the property. By marketing the property you are acting as a realtor, and unless you are a licensed realtor, that could potentially get you into some trouble.

I'm there!