All Forum Posts by: Dennis Pressey Jr

@Account Closed I think there may be some research left to do :)

1. You cannot assign a contract on a HUD or any bank owned/short sale. (not that I have seen or even heard of)

2. Auction.com will not be a fast process, and if you are looking for deals like assignments that means quicker returns. Auction.com will require your deposit and you must close on the property in order to resell.

3. I order to get assignment deals, you must market (direct mail and otherwise). Driving for dollars aka driving around looking for vacant houses is a very good method, but takes a lot of time for little volume.

I'd start by reading up a bit more and starting to get your pieces in order. Then look to meet buyers.

@William M. I am in jersey :)

Shoot me a message and we can let you know about our Cape May properties.

$20-$25k can never be a steady rule. If you invested a total of $200k and only make $20k profit, that is a very tight deal. (in a rehab and resale scenario)

Profit should be directly correlated to the risk and amount of money, time involved.

The acceptable profit margin % really is based on those factors - which are specific to you and your lenders.

Simple search can help.

No you cannot assign it. You must close. Then resell and close again. 

The 89% rule will get you accepted, but is it a deal?...usually not.

50% of original listing price is usually a good deal.

I agree with most of those as well.

We never get them more than 50-54% of the list price.

There are a few details that help get offers accepted.

Are you getting countered?

The answer is....it depends.

In a technically correct world, YES. However, I would say it depends on your goals.

You will want to take into account basic keywords for your area or future areas. Example; "sell my house orlando"

So, ideally you would want a domain something like; "sellmyhouseorlando.com"

But...usually those are taken so you will want to find a sensible combination that also is keyword friendly. Example; "sellmyhouseinorlandoquickly.com"

Got one last week. Got another excellent counter we are looking to take.

Not sure its any more than normal. What is your bid frequency?

HUD also has an extension of the 30 day closing period. $375 last I checked.

Clean! Nice job.