All Forum Posts by: Don Mack

A short sale is different from a REO. I have verbal short sales accepted all the time and have not had one problem with the mitigator changing their word.

I have evened signed contracts with other investors after only getting a verbal with short sales.

With REO the bank has complete control and many people are bidding on the same property. With the short sales i workl, i have complete control thus eliminating the games people play. Also if there is a middle man doing the negotiation you will see things changes because the realtor probably thought they would get the deal for 121 and telling you that.

there are providers that have 30-60-90 day late leads but they cost around .63 cents for each lead with a minimum of 1000.

when you say non compete do you mean that no one can go around your back and steal a property from you or do you mean training a bird dog not to use your methods for a certain amount of time?

i am looking for investors that will help me sale properties in your area, mainly wholesaling. I show you how to sale them.

:boring:

amaizingblu, tell everyone what you thought about the course. Maybe you had a better from motivational experience than i did.

Your comments are sure to help others no matter how you feel about the course.

:violin:

REI,

are you investing in the UK or in the US of A?

If both, how has investing internationally helped you as an investor and would you recommend investing abroad.

Look for a lender that will do something like 203(k) loan. I think that is the name for it. Or try a hard lender maybe.

i would make an offer on the house, the worst that happen is your offer might be accepted.

Heres what i think you should do, offer to catch up the payments give him a 6 month lease. The lease will give him time to get his things organized so he can move on.

You don't want to rent to buy the place back to him because he might develop resentment. That resentment could come back to haunt you in the form of a lawsuit and if you end up getting sued. The whole thing could lead to criminal charges.

The reason i say lease it for 6 months, this will let the owner know that you want the property to make some money. Youre just letting him stay there to allow time to search for another place.

There is no getting the house back, and why would you want to sale the house back to him for $50,000 profit? Does that seem like an ethical way to do business? Whats in it for him, is he getting some of the proceeds? If not you are really find yourself in trouble.

If he doesn't want to sale, then you don't have a motivated seller.

I did purchase his commercial course as well. Its actually a dvd or at least it was last year of a very boring guy that talks non stop for four hours.

It doesn't have any diagrams or anything. His voice never changes pitches and i fell a sleep on on the dvd at least four times trying to keep up. The guy is the same guy that is on his private money dvd and another one of his dvd's i think the short sales dvd.

You will be better off going to the library to get information. The site he turns you onto does have some deals but they are very marginal.