All Forum Posts by: Lee Haenschen

Sounds like it will take a LONG time for the area to turn around and the property to have any additional value. Also sounds like if you buy for 50K it will only be worth 50K or LESS in lets say 10 years? How much headache are you willing to put up with ? 

Anyone tried the drivebuyrei app? Seems right up my alley. I don't have any free time to "drive for dollars" With being on the road for work 6 days a week I pass a lot of homes that are vacant. I don't really have time to double back and get addresses and visit the properties because I am usually driving for work with a large trailer behind me. BUT this app looks like you can bring the house up on a map, drop a pin on the house & with one click the APP will send a letter to the homeowner with a solicitation to make an offer on the home. 

Curious if anyone has tried the app? Seems like the prices are decent for the service as well. 

When you make an offer on a off market deal, how much do you explain to the seller? What I mean is let's say you offer 110K On a house....well below market value and the current owner will assume you are low balling them. The house needs repairs so your offer is based off this.

Do you explain WHY you are offering well below market value? That the house needs a new roof, new A/C, walls need to be removed, paint etc.. etc.. ? Or do you just hand them the offer and tell them to look it over and walk away? 

I own a landscaping business so I am no stranger to sales interactions with people, but with my business the more talking I do to explain to people what we are doing the better. I am not sure if less is more when it comes to buying off market homes? Or should I spend 30 minutes explaining why we offered 110K for your home when market value is 250K

I do have the BP rental book on audio. Didn't remember any chapters in particular that went into detail of what to do between the offer being accepted and the closing day. I will go back and listen to the book again.

So I think I've nailed down one of the things that has been holding me back from real estate investing. I'm comfortable with negotiating, inspections & talking with contractors etc...

What I cant seem to figure out is: the next step after a offer has been made on an off market deal and excepted by the homeowner.

Is there any good books that go over this? 

Do you call a closing attorney and set up a closing date, hand over all paper work and he/she  takes it from there? 

Do I need to do a title search myself?

I understand the money part and that it would be in my best intrest to have the home inspected. 

I did get a hold of the daughter of the diseased owner. No go on price, she is asking nearly full market price for a house that hasn't seen a hammer since 2002. Found out she did hire a realtor recently as well (house had been vacant since march 2018) 

Do mortgage companies generally let you speak on the owners behalf when it is in pre-foreclosure or foreclosure? 

If not how would you negotiate on a house that is in some stage of foreclosure? 

So a house down the road from me has been vacant for close to a year now. I've noticed recently that their has been a sheriff door hanger placed on the door.

I looked up the tax record and the owner (when googled) had died March of 2018. Just before her death the house was put into her daughters name, who lives about 2 hours from the house. I have no phone numbers of the daughter but I did find her on facebook. Is it unethical to contact her through facebook to start a conversation?

Also with sheriff notice already on the door I am assuming that is to give notice of foreclosure. Is it to late and a waste of my time to pursue? I am a newbie and don't move very quickly on deals. 

IF she were to contact us back.....what would be the next step? Would I try to contact bank to let them know that we are interested in buying the home and to please delay any foreclosure proceedings for 30 days? 

I've been a landscape maintenance contractor for 20 years now. We use generic roundup products with burning agents daily....like 100+ gallons a week. There is plenty of more dangerous chemicals out there, the media and public just chose the largest company to fixate on for the moment. 

If the client has an issue we will spray Vinegar. Be expected that it does not act the same as roundup. It will make the soil so acidic nothing will grow in it for quite some time. And it spreads while in the soil to the surrounding root zone. So do not spray close to drip zone of plants you want to keep. Where as roundup you can spray right up against something you want to keep, vinegar is a different animal. 

I've noticed some of the homes that are noticeably vacant are an enigma on the tax system ! How do I combat this? I write down the address, take pictures of the homes and when I get home to search the city/county tax platform, I come up empty handed.

Even google searches come up with very vague info. Nothing on zillow or any real estate sites but usually when I google the address it will come up with "people search" results which will state the exact address that I am searching.