All Forum Posts by: Mark Kemp

I know about Cambridge, what would you like to know.

Roland,

My name is Mark. I live in Las Vegas, I've only been here for only 2 monhts. I have 4 Deeds from H/O. You could say I am a flipper but I don't fix them up, I sell them to guys who fix/flip them. I'd be happy to sell you some if you want some. 

I am glad everyone is negative on Vegas, it just leaves more for me. I've done anywhere from 4 - 15 deals per month, every month, since 1995. I've done over 1800 deals in 40 different States here since 1995. Most people don't get how to do this business. I've taught over 180 people how to successfully do this, and I kept records and have a 94% success rate and getting those people to be successful and completed several deals. My response to the 6% that didn't - you just can't fix lazy and stupid. If your willing to work, this payoffs greatly.

Welcome to the neighborhood. You can also do this with no money and no credit.

Mark Kemp

I do 4-6 deals per month. I do all the work myself. I use title only when I have to. I have 15 buyers. 

In the fall, you will see a fall in values, I hope it stays at a 10% maximum drop, but by next spring, I believe the Washington powers that be will create more hardships on the people and the economy that the prices will not bounce back up. I have done Real Estate since the early 80's, seen tons of cycles come and go. As the few of those that saw the crash in 2008 coming, no one believed them until it was too late, no one will agree with me here but time will prove all things.

You'll always get that anytime you do month to month. I like month to month, but each way has it's benefits and disasters.

Mark

Sandy,

Be open to just flipping this deal for a nice profit. Leave money on the table for the fix and flipper. You walk away with a nice profit and now you have cash to do a future deal. There are always good deals out there. Take the money and run.

Just a thought.

Mark

Another option is to do a deal in that much time, striving to double or triple your money. It's enough to get a deed from an owner who is in default, and get them out of the house. Then you can flip it to an investor who will give you $8-12K for the deed.

Mark

Junior,

It's paid to the owner when you close escrow. Whomever buys my deal knows its' $60K plus my fee. He can pay the $10K and leave the $50K loan in place, get a new loan or whatever he chooses. Some buyers leave the loan in place as they are fix & flippers, others are landlords, get the house fixed up and get a nice 80% ltv loan to pull the money they spent buying and the property and the fix up costs back to them.

Mark

Thomas,

Don't worry about 'getting out of a deal'. One day you'll learn you'll always have plenty of buyers and not enough deals to keep them all happy. So focus on just getting into deals.

If you think about the paperwork, no matter the exit plan, from the owner, you'll want a signed Deed and a Power of Attorney. With those 2 documents, you can do a subject to, flip it, turn it into a rental, etc. If you throw only 1 exit plan at the homeowner, you can't change that exit plan, and what if you had a cash buyer that was going to net you $30K? You then are stuck.

See how this works? Just worry about learning how to perfect getting into deals. There will always be tons of buyer 'if' you can perfect 'getting into deals'.

Good Luck.

Mark

Let go of the distance. How far out do you have to go to get real comps? Go with those numbers. It will be worth a little less than that number, as it's in an area of a lot smaller homes. Comps are always just someone's opinion, and like an ***, we all have one. Trust your gut more than anything. Just be clear to value it according to the costs of rehabbing with realistic pricing.

Good Luck.

Mark Kemp