All Forum Posts by: Corey Demuth

make an offer and let them know you're serious and that you really can't make a deal work for any higher, because you don't want to be associated with that category of investors who just throw out lowball offers like they're fishing with dynamite.

if they don't take it, move on to a more motivated seller... nothing is more frustrating or time-consuming, as a newbie in this business, than dealing with an idiot who has an inflated perceived value of their property.

good luck

*edit* also, you may want to offer them 80 on the first round, so that there is room to negotiate up to 87,900 as Jon outlined for you... everyone always want to feel like negotiating is some big compromise and that both sides gave something. others may disagree with this, but it's just my personal opinion.

as a digression, while working at a law firm I once saw a case where the opposing client had nothing and I mean NOTHING going for him but was trying to settle. so the lawyers came up with a figure and he suggested a lower amount, to which they of course said no. it turned into a huge argument and all he kept saying was that "in the spirit of negotiation" they should come down a little so that both parties would have conceded something.

In the end they came down 5%... so he took the offer at 95% which was frankly not a hell of a lot cheaper but clearly he just wanted to feel like he got a "deal" somehow. it's the same reason every price nowadays ends in ninety-nine cents, and macys has a "one day sale" just about every day of the year...

at age 50 too... what is with people dying young lately??

so I've been busy building up a nest egg to invest and as a result haven't been on the forums for a while...

what's this "influence" thing all about?

I was wondering why 3 out of the 5 radio stations I usually alternate between on my morning commute were playing MJ music this morning... then I walked into the office and everyone was shocked I didn't already know.

Originally posted by Dean Julie:

Anyways, the real big question remains: Is all of this stuff fun? And if its not, why do it? Thinking about it now, I have not ever heard any real-estate investor ever say something even remotely along the lines of, "Dude, this real-estate stuff is so much fun! You have GOT to come try this!" I have heard people say that about things like water skiing. I've heard people say that about Wii Sports.

grow up. life isn't about fun. paying taxes isn't fun. being by a family member's side while they die isn't fun. sticking up for your brother or friend getting picked on at school and getting your *** kicked isn't fun. working out the problems every couple has in a relationship isn't fun. you do these things, because they are the right thing to do.

if you want to just "have fun" then go sell drugs and eventually get caught, go to jail, and see how much "fun" you have when you find yourself all alone in the shower with "bubba" the serial rapist

and you don't generally get paid to play wii sports, now do you. god do you actually read your posts before you click the submit button?

have a FUN day

this guy just wants to ramble on and on about his boring *** life story, stop giving him attention

ps... your postings read like my sister's blog posts... no offense but.. we're not really interested in the intimate details of your personal life...

did you really expect anything else? go read some of

the... other...

subject...

3...

financing... threads...

man....

dude... like .. wow...

are you talking about assigning? you can't assign REO's

I think wholesaling REOs may be bad right now but wholesaling in general, at least in theory, should always be viable. The market is low so prices are low, I have been getting a TON of interest from investors (buyers) because they know they can get property cheap right now.

And, on the selling side, people who are about to foreclose or can't move a property that is destroying their finances/credit, eventually have to face the facts and sell for whatever they can get.

Originally posted by Jon Holdman:

Around here, there's no way I would bother showing a REO to someone else until I have a contract. That's because most (90-95%) REO offers don't go anywhere.

Thank you so much for saying that. Every time I put down REO's I get a litany of responses about how wonderful they are and how so-and-so buys them all the time for less than half price and bla bla bla... I really think these people have NEVER actually closed a REO deal. In reality the banks tend to have a lot of cash investors making highly qualified offers so yours looks like crap if you don't have proof of funds and a decent offer.

Putting offers out on REO's is like trying to get your money back from a real estate guru... you make a whole lot of effort but you rarely hear anything back for months; when you finally do, it's not what you want to hear..