All Forum Posts by: Shawn Dandridge

I have a seller that wants to unload a few properties. She's elderly and I believe just wants to rid herself of the headaches. My ideal deal would be 20 yr fixed mortgage at 4-6% for the entire asking price with no money down. What strategies can I use to up my chances of getting a deal like this to close?

I fully understand where Phil is coming from. I am a lifelong Memphian. Although I currently don't live in the city now I am very familiar with the area Chris is advertising his property. While I would never even pay anything above thr 25-35k range for a property in the part of town, I do understand the service he is providing.

Not sure why you get so angry though Phil, no one is going to put a gun to anyone's head to buy this property. As an investor they will have to do the due diligence and make an informed decision.

Sounds good Dan, I will PM you with my contact information.

Hey All,

I am finishing up my final few months on active duty (Army) and may be moving to the Raleigh-Durham area. I will be up there for two weeks starting next Monday. I would love to meet up with flippers and take a look around some of their current projects and to find some general insight into the market. Any help would be greatly appreciated. Lunch on me :)

James,

Like I have said before this property has been completely destroyed and I also want to run a title check. Just want to make sure I have enough time to get everything done. You might be right on the 60 days though. 45 days is probably something more acceptable.

Seems like a better option would be to just ask the owner for 60 days of permission to access the property and gather my info. I don't think he would have a problem with this.

Here are the terms of my contract for a home I am interested in. I am paying $500 cash for it because the house is in such bad shape. Are my terms good enough to get me out of the contract if the property would cost too much to fix up. Houses in the neighborhood average about 30K tax assessor value. I don't want to put too much money into but at the same time I plan to buy and hold this one for a while.

1) Buyer will assume ALL liabilities of property upon final closing.

2) Closing to be set as soon as possible for all parties, but no later than 1 August 2011 without written addendum to this agreement. If closing is not executed on or before 1 August 2011, this contract becomes void.

3) Property sold “as is†with no warranties implied or stated from seller.

4) This contract is contingent upon buyer being able to get all needed repairs done and property brought back into code for the sum of no greater than $25,000.00 USD. This will be determined after repair quotes for said property are obtained.

5) Seller is to provide buyer with written permission no later than 24 hours after this document is signed by both parties to access property solely for the purposes of evaluate repairs needed and appraisal of said property. If property is vacant, Seller shall provide Buyer with a key to access property specifically for the reasons above.

6) Any furniture, fixtures, attachments, and debris located in and around property not removed within 1 day of closing become ownership of buyer.

J I have requested you as a colleague.

J,

Sent you a message with the follow request. I have another deal where an older lady is looking to unload her portfolio. Would love to discuss the specifics of this deal with you via "real time" as in Skype or such.

I'm looking for a hard money lender in Memphis. I have talked about the property I am interested in renovating on previous forums. I am looking for about 75% of ARP. Can anyone recommend anyone?