All Forum Posts by: Karen R.

Ron S....

Equity purchasers or those "helping" are a far cry from a flipper offering a purchase on the soon to be foreclosed upon home. I am not someone offering to "help". This is where we are differing. I am one who was cold called and I simply stated that if you are cold calling me, and you want to know all this financial and personal info, I'm not telling you anything. If however, you call me and give me an offer... well then, I will listen. 

Since I have experience on the side of a distressed seller, I now can empathize with them when I cold call them. When I said to offer them solutions, thats what I meant. Give them a price, tell them you will pay closing costs, that you don't require a home inspection,etc. This is NOT "an equity purchaser" or one who is "helping". This is an honest offer that can be bargained back and forth until a deal is made. 

An offer to buy, an honest offer. Yes, get the bargain but don't be a shark and don't sound like a shark. Have empathy for their situation and you will not have a hang up. Don't start the conversation with "how can I help you?"... Start the conversation with introductions and then your offer... you won't get a hang up. 

You can quote all the statutes you want, but an offer to buy a property hardly calls for law enforcement. If I, as a buyer, find a property and want to make an offer,why can't I? 

You seem to be more concerned with those who are "shady" than honest buyers. Foreclosure avoidance???? Never said a word about that, nor would I. You seem to think I'm some sort of fly by night vulture preying on unsuspecting owners. I do not,nor would I ever practice such things. I am a buyer. PERIOD.

Again, I was simply relating HOW to approach someone in preforeclosure. That was the topic.

Ron S.   

Hmm... I have no idea what you are talking about. I think we are talking about different things. I'm not asking anyone those questions so I'm not cold calling anyone. I'm telling you what worked for me when I was in pre foreclosure. This was in Florida, so I have no idea why on earth any flipper ... as Joe Citizen .... cannot contact the current owner of a preforeclosure house, to make a VALID offer. In Florida, anyone can make an offer, no license necessary. Not in the real estate business, in the flipping business.

Welcome Christian.. Have you checked out the local forums here? There is one for the Pittsburgh area, lots of good info there. 

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Ron S., why would I need a license to say "I am willing to buy your house as is and you would walk away with ten grand"? Why would I need a license to tell them I can help them? Why wouldn't I need a license if I were asking them what their financial situation is? Why wouldn't I need a license if I am asking them personal questions? I simply stated that if you don't want a hang up on a cold call, then don't start your call with questions, start your call with solutions.

Thanks Alex. I live about 30 miles north of Pittsburgh so I'd need rentals close by here in a good rental area. If I fix house #2, I would gain about 20 grand in sales price, but headaches because I live here now. Do you suggest selling as is, both of them at once? I have quite a bit of experience with "flipping" but it was called "buy-fix-sell" when I started. My ship hasn't been tight because I was the full time caregiver for my brother, 24x7  He is now deceased so I'm just getting my bearings now. What do you think of trading a W.Pa property for the Fl property?

As one who has been through pre foreclosure, I can tell you that your approach will probably get you a hang up. Luckily I was able to get through this on my own, but I did hang up on many who called. To me, they were "vultures"... even though you are not a vulture,that is the mindset of those who are in such financial difficulties. After all the "tricks" of debt collectors, people in pre foreclosure are suspect of anyone who calls. Do not ask "what can I do for you"... TELL them what you can do. Do not ask for personal information. Do not ask for financial information. Just don't ask. You have all the info you need. They are in trouble and you can help them. TELL them that first. Explain what you can do to help them KEEP their house...or buy their house and give them an extra ten grand after the bank is paid off. They aren't stupid, they want the facts. Do not start your conversation with questioning them, start your conversation with how you can help them, and be specific. Hope this helps

I'm in a quandry and just cannot decide what to do. I have a family property with 2 houses on 5 acres in Florida but I now live in Pa. I am retired and need a monthly income but renting so far away from where I live gives me considerable doubt. 

House #1 is 1000 sq ft and is a fixer upper, it sits on 2.35 acres. It needs work. House #2 is 1800 plus sq ft, 3/2 with inground pool and detached garage, sits on 2.5 acres. It needs "lipstick". 

I have received dozens of offers on House #1 from "we buy any house" people. I have not replied to any of them... yet. This is the house visible from the road. House #2 is not visible from the road and has a different address so buyers don't know there are 2 houses on the property. Each house has a separate deed, so can be sold separately, but I think I'd prefer to sell them together. Or not. 

So here is my dilema:

I NEED a monthly income. I would prefer to own property closer to where I live in Pa. but the rental would not be as much as Florida. Yet,if you add in the cost of travelling to Fl,paying for property management, etc.,I don't know if there is an advantage to Fl. 

My options are: 

• A straight up real estate trade, Fl property to Pa property
• Sell house #1 and use the funds to add "lipstick" to house #2
• Sell house #2 after adding "lipstick"
• Rent house #2 after adding "lipstick"
• Sell both houses "as is" then find a duplex close to me in Pa

Any and all suggestions are welcomed. Right now there is a "caretaker" living in house #2 who was supposed to be rehabbing house #1 and I've found out he hasn't done anything of the kind! I'm tired of being ripped off,so I need to fix this problem. Thanks for your input

Kourtne..

 What are the comps for your area and your house? Is the area "up and coming" or is it an old and established neighborhood? I suggest you visit other comps to see what others are offering for the same price and/or location. If you are selling a 3/2 1891 sq ft home for 60k and having problems, you need to take a step back and look at it as though you were a buyer. Hope this helps