All Forum Posts by: Account Closed

125+ units - that's a big deal - are these for you personally?

I have 60 duplex buildings, a total of 120 units 

I would be interested in working out a transactions - Do you believe you could qualify?

Charles Parrish

Please contact me about these properties 

OK Brian - you put,out,the work,thatmyoumare,looking to,work,with a wholesaler. I am OK with a long term relationship.  

My group does about 200 discounted wholesale properties a year.

We use the auction method of markerting. Been doing this for over forty years.

Let me know if you want to work with me.

Charles

Just comment on this issue. Find this post -- 

You may want to make an agreement with a private detective - make him your partner or give hi a percent of your deal. 

I am working on my iPad and was unable to copy and paste the above post. Hope you can find it - lots of ideas on finding owners of vacant houses. 

You could secure their interest with a mortgage document and a first mortgage on the property being secured.

Recite the terms in the mortgage -

• the amount of interest to be paid back 
• Will there be payments during the term (best to make it no payments until sold or refinanced)
• Terms of the mortgage; interest rate and length of the loan (could be for 5 years or until something happens - like sold or refinanced
• You could offer an Equity Kicker.  This is a bonus to the lender 

You could explain or show the lender how to use split notes, or use them in connection with your investors how to leverage your and their position to acquire more real estate using the split notes as DP.

Make sue you package your deal well with

• Good comps
• Holding period
• Estimate time to profit 
• Pictures
• Contractors and their references
• After repair value
• How will you liquidate. Listing - auction - sell as FSBO

You could secure their interest with a mortgage document and a first mortgage on the property being secured.

Recite the terms in the mortgage -

• the amount of interest to be paid back 
• Will there be payments during the term (best to make it no payments until sold or refinanced)
• Terms of the mortgage; interest rate and length of the loan (could be for 5 years or until something happens - like sold or refinanced
• You could offer an Equity Kicker.  This is a bonus to the lender 

You could explain or show the lender how to use split notes, or use them in connection with your investors how to leverage your and their position to acquire more real estate using the split notes as DP.

Make sue you package your deal well with

• Good comps
• Holding period
• Estimate time to profit 
• Pictures
• Contractors and their references
• After repair value
• How will you liquidate. Listing - auction - sell as FSBO

The freedom here is representing  yourself - you are your best client! B U T - when you represent others for a fee or commission, you have to conform to the standard contract where you fill in the blanks .... Agents can't write contracts - only lawyers can if you are acting as an agent - agents can only fill in the blanks on a standard form. 

Once you get too deep into brokege - it is hard to break away from it - B U T - once you perfect the art of working with a "Skinny" contract offer the freedom from regulations by others (laws - your broker - the commission - the board etc) will set you FREE ---- The money and wealth will come abundantly. 

When you are representing yourself - you can write your own offers on a one page contract - called a Skinny ( My creation from years ago when financial freedom was discovered), when you represent others - you are restricted by what you can do and how much money you can make! 

As an investor you can write an offer on a napkin if you want - you can say anything you want - no one can stop you. 

Some things you can write in --

• right of possession
• Automatic extension
• Delayed settlement agreement (this one will make you really happy when you understand it)
• Interest free seller  financing with automatic discounts
• Study periods with possession and cash flow
• Vertical break up to discount commercial properties 
• Any off the wall creative clause you can think of that will benefit you - the investor

Financial Freedom is within your reach when you represent yourself and not others -- you are the only client you need!

Do this and you'll love the real estate business --

• Design a skinny contract for yourself
• Make one offer a day using you skinny contract
• Learn and practice using contact clauses that benefit you
• Practice second stage negotiating 
• Use Hybrid terms in your offer to close more transactions
• Talk to 5 sellers or agents everyday. Set a goal to find the sellers mortgage balance. 
• Creative financing understand ten of them - carry them with you

Make full disclosures - have fun - don't take yourself too seriously. 

Charles - Baltimore 

I get leads from housing inspectors - many of them are vacant houses, 

• talked to neighbors on either side of the house and also across the street, 
• if they are not home leave a note.
• Check the tax sale list
• Do a "bring to date" title report, see if there is a mortgage or lien 
• Try to put yourself In the chain of title, buy a lien, foreclose. 
• Leave a note on the door.
• Check with the register of wills
• Check MLS - see if it has been listed - call agent
• Put a for sale sign on the property :-) see if anyone calls you
• Get SDAT info - call everyone with that last name. 
• Again check tax sale - if the tax cert. has been sold, try to take assignment of it
• You need to lots of work on these vacant houses, but let tell you, it could be well worth it. Don't quit - play detective 
• Hire a private detective to help you. 
• Not easy, but you'll get rich if you are successful - a vacant house is un-loved and abandoned house - focus on this and you will make money!

any time you need help or an equity partner, I am here for you or anyone - my goal is to make a reasonable profit. Let me know if you need leads in ur area - I have a lead system that may help u. 

I get leads from housing inspectors - many of them are vacant houses, 

• talked to neighbors on either side of the house and also across the street, 
• if they are not home leave a note.
• Check the tax sale list
• Do a "bring to date" title report, see if there is a mortgage or lien 
• Try to put yourself In the chain of title, buy a lien, foreclose. 
• Leave a note on the door.
• Check with the register of wills
• Check MLS - see if it has been listed - call agent
• Put a for sale sign on the property :-) see if anyone calls you
• Get SDAT info - call everyone with that last name. 
• Again check tax sale - if the tax cert. has been sold, try to take assignment of it
• You need to lots of work on these vacant houses, but let tell you, it could be well worth it. Don't quit - play detective 
• Hire a private detective to help you. 
• Not easy, but you'll get rich if you are successful - a vacant house is un-loved and abandoned house - focus on this and you will make money!

I get leads from housing inspectors - many of them are vacant houses, 

• talked to neighbors on either side of the house and also across the street, 
• if they are not home leave a note.
• Check the tax sale list
• Do a "bring to date" title report, see if there is a mortgage or lien 
• Try to put yourself In the chain of title, buy a lien, foreclose. 
• Leave a note on the door.
• Check with the register of wills
• Check MLS - see if it has been listed - call agent
• Put a for sale sign on the property :-) see if anyone calls you
• Get SDAT info - call everyone with that last name. 
• Again check tax sale - if the tax cert. has been sold, try to take assignment of it
• You need to lots of work on these vacant houses, but let tell you, it could be well worth it. Don't quit - play detective 
• Hire a private detective to help you. 
• Not easy, but you'll get rich if you are successful - a vacant house is un-loved and abandoned house - focus on this and you will make money!