All Forum Posts by: Don Konipol

This basically only works in a market with very little product and many buyers, and easy financing. You can use a modification of this marketing whereby you set a very low minimum price and asks for bids at or above the minimum, in essence having an auction. However, this requires significant extra work, skill and experience to pull off successfully.

The CCIM Institute has an introductory commercial course for $80.00 on DVD. I highly recommend it to anyone interested in commercial investing

Yes, it would be effiective subject to your completion of the property purchase. of course the tenant would have to see a benefit for himslef to be induced to sign a lease modification

There are always people working "on the margins" of real estate. Ususally, a seminar is given on a way to make money in real estate with little or no cash investment. Often, these methods target homeowners in a foreclsoure situation. The problem for the homeowner becomes trying to figure out which are the legitimate players in a sea of con artists. As a private lender I have seen all kinds of nutty schemes that borrowers who are in default pay for. When the scheme doesn't work and we go ahead with the foreclsoure anyway, the borrower is always shocked. Here are a few tips for borrowers considering hiring a third party to help them with their default problems.
1- 3rd party intermediaries have no additional powers than what you have. Almost everything they try you can try yourself.
2- Often, if the 3rd party were to be "successful" in "saving your home", you end up in greater debt than you started.
3- Sometimes it is better to lose your home in foreclosure, move to less expensive quarters, and start accumulating cash again.
4- Most lenders consider the approaches used by 3rd party intermediares "bizarre" and won't even acknowledge them.
5 - Run any of these programs you are considering by an attorney. If you can not afford the $150 fee for the attorney to review the offering, seek hekp at a poverty law center.
6- Never pay for these services up front

Loan MLS

thanks for the analysis jon. i have been investing in real estate, real estate notes and real estate securities since 1979. your analysis is right on as usual. there are no short cuts to being a successful investor. appraisals are all over the board. in the last two years i have seen the widest discrepancy between appraised value and market price (going both ways) in all the 30 + years i have been investing. for example, we just listed a property we thought might sell for $240K (as per appraisal). we had numerous buyers wanting it and have sold it for $310K. yet, we acquired a property in foreclsoure for $255k, that i thought was worth $425 - $450K (appraisal at $515K). after 18 months on the market i have lowered the price to $275K and still just accepted an offer that will result in a $35K loss for us! in this market suffering a large negative cash flow while sitting on "phantom" equity is a perscription for bankruptcy

Allow a much higher % for vacancies than historical average for any property you are considering. Also, assume you will have to lower rents 10% to maintain occupancy. If property comfortably cash flows after these two tests, you will most likely be able to maintain ownership during downturn and reap a large profit once the next phase of the economy takes shape.

Judgements that are sold for pennies on the dollar are the ones that inhouse collectors, collection agencies, attorneys, and work out specialists have all tried to collect on and have been unsuccessful. These are shopworn and without success. Unless you have a truely unique approach chances for profit are small.

Your post shows exactly why it is so difficult to execute a "deal" with no money. Dispite what the nothing down gurus say, trying to extract a profit from a transaction with no money invested takes alot of knowledge and experience. Most would be real estate investors trying to earn a "flip fee" by arranging both sides of the transaction, are basically acting as brokers (usually without a license or brokerage agreement). Successfully pulling this off is difficult; pulling this off with a broker already involved is exceptionally difficult. Perhaps you need to try deciding what added value you can bring to a real estate transaction and see if the market will pay you for that expertise.

Nothing, you can get list of all hard money direct lenders on the scottsmanguide website