All Forum Posts by: Tommy R

oh and it is cashflowing $200 a month for me as well steadily

This just sounds silly, just because it made it to the MLS does not mean its not a good deal.

It may not be a KILLER deal, but that doesn't mean its not a good deal.

ie: I bought a property 4 years ago for 5k down, a 100k property, now its worth 150k+

And even just 2 years ago it was still worth about 100k, its only the past 2 years it went up in value.

I bought the property off the MLS.

I would consider this deal just fine. It's not a killer deal, but low and behold I made a relative sweet return on my capital. (nearly 100% a year over the past 4 years in appreciation).

another idea I have is to offer a higher interest rate to the seller like 8% but again with little down like 5% down

Anyone else have any feedback?

would like to catch the appreciation of the property and very ideally have it be a good enough deal that it cashflows

Joel- that is why I'm seeking fsbo, otherwise 5, maybe 10% even could find some interested sellers I would imagine

I mean I want to offer no money down, (and no cash), but then switching to offering 5% down to alleviate their worry

Another way of doing this I thought is that I could offer a handsome interest rate, like 8%, but in return I want only 5% down (and then for my own sale I could ensure there's no prepayment penalty just in case I want to pay it off/sell it in the future)

I've been entertaining this idea recently of approaching for-sale-by-owner properties and offering ~10% more than their asking price (assuming it was a good deal from the get-go), but then offering nothing down or say 5% to eliminate the sellers risk,

Obviously I know many sellers won't be open to this or like this but I believe some would, I wanted to get your guys' feedback on this, is anyone doing this or has anyone does this? What has your experience been like / and is what is your feedback

Happy holidays~

well lets hear it, no time like the present!

I know there have been several threads on this but I'm struggling with it-

The situation: I find an abandoned property
Goal: to get in contact with the owner/decision maker

Please help me clearly establish a roadmap from start to finish

I know the county website can provide some info- like the owner- but then how can you get their phone number/more contact info to reach them at? Do you guts use specific websites to get more info on them (which is ideally easily accessible and cheap/free)

Thanks in advance!

I now have a solid:
Purchase Agreement
Assignment
and
Sub-Assignment (for other wholesalers who I'll offer $X(ie: $5k) to help me find a buyer)

I've worked hard getting these set up the way I want (to provide safety yet stay short and look aesthetically pleasing), but I feel like they're pretty solid,look good, and are concise. They're designed for the state of California.

If you want to critique them and think you have educated/experienced valuable feedback message me with your email and I'll send em over.

-Tommy