All Forum Posts by: Account Closed

I door knocked preforclosures today and I ran into 2 houses that showed signs of nobody being there for a week or longer. I signed up to people smart and tried looking up their phone numbers but none of them were the current phone number. The second house I asked a neighbor if he knew the neighbors but no luck. What else can I do to get ahold of the homeowner?

Im a little shocked after hearing 80% minus repairs. That puts an offer of 18k higher then what I contracted for. I'm guessing in this market its all about hitting singles/bunts. Thanks for pointing out what you have seen out there. 

Someone is cutting off the corner of the bandit sign so the phone number can't be read. And placing an orange sticker/8x11 flyer over it as well which reads RIP OFF. I was wondering if it was a wholesaler taking advantage of a new house flipper and overcharging a fix and flip. I recently lost a deal to another investor and I came in right at 70% minus repairs and contract in escrow. Im waiting to see the updated sale price on the property to find out how much more they offered than me. Im wondering if wholesalers in my area are getting away with higher prices to other investors or figure out the reasoning for their offer price so I can adjust my offers on the next house that gets swarmed with investors. And I just wanted to see if other investors on BP had any stories from Denver. 

The ones I've seen have been in lakewood/east Denver. Mainly up and down Wadsworth. 

Is anyone in the Denver area noticing certain bandit signs getting tagged over with a orange sign, "RIP OFF"?  I've seen the bandit signs consistently being put up and consistently tagged over with "RIP OFF". Anyone in the area know what companies they are? Or run into what they are doing?  

and all that is before the auction date. 

i take my contract and 3rd party authorization form down to the law firm that is handling the case. They take copies and ask the bank for a final pay off and extension so you can close. Once you get the final payoff you can amend the contract from there if other liens came back the homeowner forgot to mention. Or if you get green lights, fall forward and purchase it. 

I thought I'd give an update. I lost the contract to another investor. Anyone have advice on to help avoid this in the future? It seems other investors in this situation will just make a slightly higher offer than what might of been accepted. All around the block of the house now are hand written signs with "3/2 bedroom. MOTIVATED!!!" I only imagine its a wholesaler marketing it now. 

I did my first deal and got the contract and took it to escrow. This was a pre-forclosure so in CO the homeowner has 3 days to cancel. While I was getting the contract signed another investor door knocked the house. When the homeowner told me he was going to cancel the contract I went to his house to ask why and pick up his cancellation. He wasn't there and stopped answering my phone calls and texts. While I was there I saw 2 other investors driving by slowly and staring at me. What can  I do in the future to avoid this? Or is this apart of preforclosures to where I can get a contract and hope to close everytime? 

I purchase a 3 bed 2 bath for 110k. ARV comps suggest 185k. With repairs I'm rounding up to 20k that already had a built in cushion from 17k. I feel confident that I can resell it in its condition beween 160-170k as last week a 3/2 house in the area sold for 177k cash. That house was 1100sq feet and this one is 2000sq. Do i have a deal?