All Forum Posts by: Melodee Lucido

Dean,
Thanks for that I'm going to be assigning this to an investor friend when we can get the details straight with the seller.

This may be a stupid question but I'll ask it any way.
All I have to do is find out what the seller wants;
find out what my buyer needs;
swish the two together so it all blends;
write it out, sign and smile?

My investor/buyer has never written a seller finance deal nor have I (obviously).

Did you use a special contract? Did you use an attorney to close?
The seller is in one state, the prop in another and my buyer and I in a diff state also.

Any help you can give would be great.

Thanks!

K, two things here:

1) I don't know the right forum to post this. So to our beloved BP moderators, please steer me right for future knowledge.

2) PUH Leeeeease lets not get into the whole bird dog debate thing again.

I have a simple request:

I have a home that I will need some assistance with in the Seligman, Az area.
I need signs put up and someone to be there to show the property a few times (I'll be scheduling the people by appointments on certain days).

If you are an agent in the area please do not contact me to list this house.The seller has had it with agents and will not deal with them any more.

Thank you in advance :>

I am ramping up my marketing to sellers and to buyers on CL and was just wondering if there could arise a problem with this frustrating site.

I wish someone would come up with a better system---give them the competition they soooo deserve :<

WOW Najeeb, that's incredible!!!

Yeah, incredible to the point that it blows my mind that you think it's ok to come in here to an awesome investor site and SPAM!! Realllly?

"If it's some pie in the sky stuff then you have to get him down or move on." hahahaha too funny but yeah. Seems everyone I talk to is walking in the clouds. Good learning going on here.

He's only owned it since about July 2011. And he did ask about the tax stuff if I was able to l/o this---which I have little idea how to do---too many numbers to consider. Not my strong suit---yet.

Thank you Joel. I am not looking at this for me. I would want to structure it to flip to someone who knows what they are doing. I could get maybe $1500-2000 as an assignment fee.

The interest is the unknown. I just started brainstorming yesterday about this and wondered if it might be a good addition to my fellow BPer's here.

His very words were, "I don't mind doing owner finance. I don't care so much about a big down but need the monthly to help my fam."

I don't know if he'll go that low but it's worth a try. It will at least open the door for negotiations to begin.

I appreciate your help Joel.

I know I've read about this somewhere but can't find it :/

I am comping from a lease purchase point of view here to find a true arv.

When finding props with comps all over the place or few comps that are diverse from one another do you use the price per sf for calculations?

Do you use this figure regularly or as a cross ref when figuring an offer price?

Thanks for your wisdom!

I am focusing on lease options and in the marketing process other kinds of possible deals pop up. I am of the mindset to master one niche before schooling myself on others.

This came to me this week and I am wondering if it sounds strong enough to make an offer on. And if so how would it be constructed.

I made good rapport with the seller while working on another property he has. I told him I would give him an offer with a couple of options for him to choose from after I looked at the numbers.

So, here's what I have:

It's a duplex in Lake Havasu City (popular retirement & family community).

The man has a dread disease that has forced retirement and is anxious to sell this prop. He would rather have good monthly payments than a big down pmt.
I'd like to put together a win win proposal.

Owner will carry--- all that needs to be worked out are the terms. There is no loan. We can make up any dn pmt and any mo pmt.

Duplex--ea unit is 2+2 about 998 sf; fair market rent is $1000 to $1100
One unit has been totally remodeled---the other is a mess with a long time renter who is a hoarder and only pays $500;

Listed with agent who can be let go anytime;
Price is in the mid 130s

Closest comp is $165k (.24 mi)
Another within .3 mi sold for 155k
2 more comps within .5 mi range @$155-160 and are newer.

I am thinking to offer $107ish: 75% of fmv of $160ish minus 10k to remodel the bad unit and 3k for the eviction stuff (I HAVE NO IDEA what it costs to evict a tenant--I was just guessing it would take 3 months)

then:
evict tenant, rehab the bad unit for 10k, rent units for $1000.

Do you think these are good numbers? Any feed back you could give would be appreciated.

Thanks in advance!

I'd love to know also Shane. I've been thinking about this thread this week because I MUST get my website completed and SEO'd.

I'm going to have to outsource this though. I'm making myself nuts trying to do it all and still work the 9-5.

Tell us how it's working :>

Yes, I didn't understand the reply either.

I just heard her on a podcast and she is awesome. BUT her mkting course is something like $2500 !!

Maybe so she cuts down on the competition??? She's making barrel loads of money I'm not sure why the HIGH ticket price to teach others how to.

Ahh well, when you got the chocolate you can charge whatever you want for it. I just wanted to spiff up my program even more.