All Forum Posts by: Account Closed

I tried calling the seller once more, but all I got was a voicemail. I left them a message to express my interest in their property. With how the outcome is coming about, it would seem that the seller may not be all that motivated.

Thanks for all the help and input! I will move ahead.

Thank you for the sound advice! They haven't returned my call yet, so I'm just waiting and will call again and try that line if I'm able to speak with them.

I appreciate it Wheatie. This FSBO definitely gave me a feel of sellers may not be very motivated. I take it that this is a potential deal.

I'm calling the sellers tomorrow.

I found a FSBO property in my neighborhood. It's been in the market for 2 weeks or so. I ran a title search and the property is fully paid.

Average selling price in the area is $654K. House is well kept, 3 bedroom/3 bathroom.

I have yet to call the seller and make an offer. I would like to get some input or suggestions for a more successful negotiation with the seller.

What I have in mind is make an offer at 65% of the ARV, $10K-15K as my assignment fee and the repair costs (if any at all). Do you think I may have a deal?

Thanks REI_Kevin!

Update: 6/24

I sent letter to express interest to the owners. I now have a couple of empty houses that I will send letters to and hopefully the owners will reply.

Update: 6/30

After nearly a week of sending out letters, I still haven't heard anything from the 5 owners I wrote to. I will give it another 2 weeks before I send a follow up letter to them. Until then, I'm driving around the neighborhood this week for more potential properties.

djdemers... yea, I do realize wholesale is a numbers game. At this point, this is probably one of the best things I can do for now since I do not have the capital to put on marketing.

REI_Kevin... thanks for sharing your experience. I have 2 other empty properties I found. Apparently, their mailing address is the same as the property. I assume a visit to a county assessor's office will show me their current address and even their phone number?!

Thank you for an awesome advice. This whole time I'm asking myself how I should follow up on my letter since I lack the owner's phone number. Awesome, it's a sound advice... thanks!

If things goes well, this will be my first wholesale deal. I will post results as things unfold.

I was driving around my town to farm the area I was interested in and I found an empty property. According to the title search, it's a 3 bedroom, 2 bath, ranch-type, SFR. The owner had moved to CT and I think they've moved for a few years now. I used to live in the same street 2-3 years ago and I noticed the house became empty at the time.

My course of action is to send the owner a letter to express my interest on their property. I kindly ask some guidance in to this matter. How can I go about sending the owner a letter? What would you suggest for a higher chance of success?

Thanks!

Awesome! Thanks for the warm welcome! For the pass few days I spent reading threads, especially on REO's and Wholesaling, have been a most rewarding time I ever spent in a forum. The amount of information and real-life experiences from people are very valuable for me personally. It help me set my personal expectations out of my REI career.

This is a very, very good rei forums!

Hi everyone! I'm the from the San Bruno (Bay Area), California!

I just recently joined this community. So far, I am learning more real-life experience from the forums and the "do's and don'ts". An awesome community and I look forward to talking with some of you and perhaps do some deals from time to time!

I wish you all the best in your business! Nice meeting you all! :D