All Forum Posts by: Cristina Ortega

hey! wanted to see if anyone in here has had experience marketing with "Lucky Buys Yucky Houses"

I was approached by them to buy ad space for tv commercials so I wanted to do a little due diligence and see if anyone can vouch whether they are legit or not or if anyone can share about their experiences working with them. Thanks!

Hi @RayADelphi

I do have a license but it's not active. I used the word showing but I mean it as an inspection. Since the property was still being occupied by the owner and they were not moving until the closing date, I told them I needed a few hours to have my buyers come by and take a look. He was present at the showing and perfectly fine with everything, as I told him everything that he could expect. The were not any brokers involved, I went with a cash buyer.

Investment Info:

Single-family residence wholesale investment in Lancaster.

Purchase price: $200,000
Sale price: $220,000

Lancaster CA Wholesale deal

What made you interested in investing in this type of deal?

I am a wholesaler and come across deals like this all the time!

How did you find this deal and how did you negotiate it?

This deal came to me via my website. This deal was negotiated over the phone with the seller. We went back and forth on price a bit and then finally settled on $200,000.

How did you finance this deal?

I worked with a buyer in my network who used cash to purchase the property.

How did you add value to the deal?

I added value by sourcing it, negotiating the price, and then setting up a showing to find the right buyer to fund the deal. I vetted all the offers and determined who would be most able to close on the deal.

What was the outcome?

A win-win deal for all. The seller was happy with his price, me with my assignment fee, and the buyer was excited to get a property that needed minimal work and could be turned for a quick profit.

Lessons learned? Challenges?

Make sure your paper work is clear! At closing, the seller said that he was under the impression that through the sale, we would be taking over the payments of the solar panel loan he had in place. Out paperwork clearly stated that the solar loan was supposed to be paid off through the sale. Unfortunately, after the sale the seller was disappointed to learn he was short on what he'd been expecting to get at closing. But after reviewing paperwork it was clear that that wasn't the agreement.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Greater LA Escrow in Sherman Oaks. Andrea and Dilyara are the best!

Investment Info:

Single-family residence wholesale investment.

Purchase price: $228,000
Cash invested: $150
Sale price: $265,000

This is a recent wholesale I did that ended up being a win for all involved! The seller's were happy because we let them stay in the property for an extra week after closing to assist in their move out of the country. The buyer's were happy to get an awesome deal on a property that is going to make a great, fast flip. And I walked away securing an assignment fee and gaining more experience on another deal.

What made you interested in investing in this type of deal?

Wholesaling is my main strategy. I come across a lot of deals that I am able to pass over to investors.

How did you find this deal and how did you negotiate it?

I got this deal from my website, they submitted a form that said they wanted to sell and I contacted them that same day and then set up the appointment for their earliest opportunity.

How did you finance this deal?

A buyer in my network is who actually purchased and closed on the property.

How did you add value to the deal?

I sourced the deal, and worked with the sellers through the entire process since this was their first time selling a house. I set them up with my escrow company and helped them understand all of what escrow needed from them. I also found the buyer and vetted him to make sure that he was well qualified to perform and purchase the property. I handled all of the paper and basically orchestrated the deal from start to finish and made sure it would close on time.

What was the outcome?

The sale was completed and all parties involved got what they were promised.

Lessons learned? Challenges?

After getting this property under contract, I accepted an offer, just because it was sight unseen and that way I could skip doing the inspection - even though my inspection was already set. I ended up accepting the offer too early and found out I could have probably gotten a lot more for it. Always do an inspection!!! Unless there is some weird circumstances preventing, but most likely get a higher price with inspection.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Greater LA Escrow in Sherman Oaks! They are the best.

@Joe Davalos

thats too bad to hear! I just requested a demo today for next week so we'll see. They advertise that you can try it out for up to 3 months and get your money back so I figure its at least worth a try. I'll let you know if it ends up being anything special. I've used TLO in the past and that was good but trying to make sure that I find the best. I need to look into LexisNexis too. Let me know if you like the skip tracer you hired, I'd be interested in looking into something like that. 

I agree! I have tried everything under the sun and cold calling, in my option, is the best! 

I am considering trying out this company for skip tracing, I was wondering if anyone else has had good or bad experiences with them?

Or if you have any other advice in regards to other good companies. 

I am just trying to find phone numbers --

Thanks! 

@Account Closed

I have read in these forums before about a company (I don't know the name) that you can give a list to and they will find their numbers, call them for you to gauge interest in selling and then will let you know which leads are hot. I believe the minimum list they will do is 1000 at a time and it is pricey. I can't for the life of me find the name of this company. Does anyone know what I company I am referring to and can give me the name?

Also if you anyone has any experience working with this company it would be awesome to know what your experience has been.

Thanks!

@debbie Lee

@Debbie Lee

Were you ever able to get your money back? Who was the guru?

@James Green really insightful, thanks so much!!