All Forum Posts by: Account Closed

@Storm Daniels Look into a VA Mirror wrap. It is ideal for what he wants to do. Thanks for your service.

I'd talk to a real estate attorney in your state and any state you want to do business in, to see what is legal. In Washington State it is not legal.

It's interesting to me that some places still have a long way to go before they reach where they were.

Now, a new tabulation of home-price data by Harvard University's Joint Center for Housing Studies provides a granular look at the unevenness of the recovery from county to county. A quick glance at the map reveals how home-prices – a worthy proxy for wealth inequality – have risen dramatically along the coasts, while

The data show that home prices increased by 40 percent or more in 153 metros (16 percent), including twelve metros where home prices doubled. And in nearly 300 markets, prices increased - but more modestly—by less than 20 percent. Meanwhile, real prices declined in about 280 metros. In another 200 markets, prices increased by 20-to-39 percent.

San Francisco, Nashville and Pittsburgh are among the 15 percent of housing markets around the country where prices have actually risen above their prior peaks in the mid-2000s after adjusting for inflation. Less fortunate are Cleveland, Phoenix and much of Florida, where prices are still at least 26 percent below where they were before the bubble burst.

However, examining the data in real terms tells a different story: adjusted for inflation, home prices remain nearly 20% below their pre-crisis peak.

Americans curious to see how inflation-adjusted home prices are doing in various parts of the country, can find the answer courtesy of this interactive map from Harvard University's Joint Center for Housing Studies, which reveals what prices are doing in various parts of the country.

http://www.zerohedge.com/news/2017-07-09/mapping-a...

From New Harvard Study via Zerohedge

Now, a new tabulation of home-price data by Harvard University's Joint Center for Housing Studies provides a granular look at the unevenness of the recovery from county to county. A quick glance at the map reveals how home-prices – a worthy proxy for wealth inequality – have risen dramatically along the coasts, while

The data show that home prices increased by 40 percent or more in 153 metros (16 percent), including twelve metros where home prices doubled. And in nearly 300 markets, prices increased - but more modestly—by less than 20 percent. Meanwhile, real prices declined in about 280 metros. In another 200 markets, prices increased by 20-to-39 percent.

San Francisco, Nashville and Pittsburgh are among the 15 percent of housing markets around the country where prices have actually risen above their prior peaks in the mid-2000s after adjusting for inflation. Less fortunate are Cleveland, Phoenix and much of Florida, where prices are still at least 26 percent below where they were before the bubble burst.

However, examining the data in real terms tells a different story: adjusted for inflation, home prices remain nearly 20% below their pre-crisis peak.

Americans curious to see how inflation-adjusted home prices are doing in various parts of the country, can find the answer courtesy of this interactive map from Harvard University's Joint Center for Housing Studies, which reveals what prices are doing in various parts of the country.

http://www.zerohedge.com/news/2017-07-09/mapping-a...

@John Caviness Need a little more specific info. How many units and what price range? What kind of neighborhood? Are you willing to take Section 8? Do you want it "ready to go" or do you want a rehab?

@Ron Fletcher When I was doing pre-foreclosure purchases I would give the seller 1/2 of the money so they could afford to move and the other half after they left the property and it was "swept clean". I had no problems.

@Reg H. Sometimes there is just no explaining human nature. From his point of view though, unless you are already approved at a bank and can close the same day as your "all cash" offer, he simply thinks he is being played. Do you actually have approval and can you actually close on the same day? If both of those are true, and we don't know yet if that is the situation, my opinion is that he overreacted. 

However, if you now have to go and get financing, he will feel lied to and I'd understand his not wanting anything more to do with your offer. He doesn't know what would come next.

@Eric C. Try FirstBank at about N 50th Ave and Bell in North Phoenix. They are investor friendly. Are you looking to partnerup with someone in the area or are you coming in from GJ?

@Andy Cross @Scott T. @Ray Lai @David Dachtera @Matt McConkey

I was able to find my post. Here is most of it with the link for the rest.

https://www.biggerpockets.com/forums/223/topics/215784-preforeclosure?page=1#p2650282

My letter made me a Million Dollars.

I Titled it "7 ways To Avoid Foreclosure" with me buying the property as option 3 so I didn't look too self serving. I used legal size double window envelopes at $50 per 500 and had the message show through in the top window. I sorted the database for the zips I wanted and I mail merged the names and addresses.

The letter was one side of one page printed on 24# paper printed and tri-folded at Staples so the address showed out the window when inserted. I mailed on mondays so they got it on wednesday or thursday so it didn't compete with the thick monday's mail. I put a 1st class stamp on the envelope. I sent out about 500 every week. Yep. It cost me about $1 per mailer. So, I spent about $500 per week advertising. My wife and I would watch "Flip this House" while we stuffed and sealed and stamped. I was one of the highest users of services at Staples and I have a platinum discount. I had my cell phone number on the insert and picked up the phone every time it range regardless if it was 7:00am or 10:00pm

I would ask "which item number do you have an interest in?" and direct them in that solution. Obviously, if they said #3 I would schedule a meeting at the house with all owners of title present.

If they said any other item number, I would advise them of those options as best as suited their situation and I would tell them that if they needed help, let me know or if they decided to sell, give me a call. I treated them fairly and with respect and I made a million, literally.

Sometimes I was able to help them keep their house without costing them a dime. Sometimes I would get a call back a year later from them wanting to sell their house to me. I got lots of business. But always, I was respectful of them and of a tough situation, offering honest solutions and we both benefited . . .

click on link above for rest of post.

Ken