All Forum Posts by: Jason Cousar

can this deal be done for rental homes? i have 5 properties that i paid cash for. no liens. total investment -- $200k. looking for a blanket line of credit for all 5 properties.

I understand this is a wholesaling forum, however, the thread titled "top 10 ways to secure a buyers list" was awesome! kudos, to everyone that chimed in!

i would love to hear everyone's thoughts on a "retail buyer" list.

is just listing on mls your only strategy? what do you do when retail buyers call your wholesale ads?

do you hit up mortgage companies for any of their walkins?

would love everyone's thoughts and prehaps create a list like the other thread.

Thanks

jason

I'll probably end up taking a 2nd for 5k. The buyer loves the house and we both know its worth 55k, that is why she agreed to the price. Thaks for the help.

5 recent sells b/w 44-50k are all foreclosures and none of the properties have been remodeled...we spent $12,000 on ours and are selling it for 55,000....doesnt make sense to me!

I just had an appraisal come back for 50K and the sales price is 55k?

Is there anything we can do? or is the deal dead???

guess its not very smart but I dont check credit...i assume all rents have below avg credit, if they had good credit, they would have got a house back when they lent everyone money.

i take each situation and analyze them individually..i think the credit score system is partially to blame for the housing mess we currently have.

one deal started in april and the other in may...so far so good.

Ok, here are 2 deals I did when I 1st moved to Memphis. Not enough equity for investors initially so I did a lease purchase on each 1.

Deal 1: ARV - 65k
Cost + Rehab - 42k
Sales Price - 55k
Down Payment - 2500
Owner Finance - 52500 15yr @ 8.9% apr

Deal 2: ARV - 60k
Cost + Rehab - 40k
Sales Price - 55k
DPymt - 3000
Owner Finance - 52k 10yr @ 8.9% apr

Question: Did I do ok here?
Question: What would an investor pay for these notes?

Thanks

jc

I will be promoting our company this weekend at a trade show. This will be my 1st marketing campaign in this type of setting. Most of our sales have been simply word of mouth up to this point. However, we are wanting to significantly increase our wholesale inventory, thus we are stepping up our marketing efforts.

Anyone had success at tradeshows?
Is it better to let people come to you or actively approach potential clients?

Any and all help is appreciated!

Jason

Welcome Chris! Much success to ya!

Hello Llmar,

I agree w/Jon and suggest start working w/a high volume reo realtor in your area...

We offer investment properties in Memphis and Atlanta. We occasionally sell to new investors but all our new investors take a tour of our properties before and after rehab.

Good Luck

Jason