All Forum Posts by: Shirley Dufrenne

Braden C. other than talking with an agent is there any other way to get that info? Is there some sort of site or software to purchase to get all that info? How do you do you evaluations?

I went out and saw the property (from the outside). It's on a really nice, quiet tree lined block in a nice area. It is the only single family home on the block. All the other ones are twins. Further down the street is a FSBO. I going to call the FSBO and the other owner to see if I can see the inside either today or tomorrow.

Jeremiah, those are all points I plan to hit once we get to negotiating part. Thanks for that input, now I'm going to calculate all those figures to have them ready for her.

Darrick, what part of Philly do you invest in?

Braden C. I'm not sure yet. I plan on at least just driving through the neighborhood to see if there's any exterior work that needs to be factored in prior to getting access to the inside. She said that I would be able to see the inside, I plan on calling her back today. But the only piece of info I don't have that I feel I need that would help me to negotiate better is knowing how long the other properties that have recently sold took to sell. Would you say I necessarily need that info to make this deal happen?

She did throw out 100k during our conversation; wondering if I would start at that. Also she said that she's not trying to nickel and dime around either. So this to me (just starting out) so like this could be my first deal. She hasn't expressed what her motivation is. There's somewhat a language barrier, she speaks Chinese, but I think we communicated pretty well. I did express the pros of selling to me CASH, FAST closing, no out of pocket expenses. verses the cons of listing with an agent and how long it will take to get paid after putting money in for repairs and paying out commissions etc. And she def doesn't want to list.

There's another house on the same block that just sold for 125k on 4/2/13 and 2 blocks up that one sold for 145k and it' smaller than the 110k one. The 125k is bigger than my subject property (SP).

So just based on this info would you say the ARV is appx 120k? If so, what would be the best offer to give her if I plan on wholesaling this deal?

Sorry this is so long, just wanted to give you all the info I had. :-)

Lance Snedden I'm always looking for a good agent to work with. I actually have a meeting with one on Monday to see how we can wok together. I have not had the best luck with the recent ones I've spoken with. They all have claimed to be on top of their game and that was just clearly not the case. The one I'm meeting with also invests and has a couple of investors and he's in the beginning stages of his career. So I'm hoping that translates into a driven and motivated person who is looking to grow in his real estate career.

Thanks Bill I'm not really sure how that's going to come into play either. Her daughter and her both live in CA so I'm not really sure why she transferred it in the first place. But she did express that she wanted to sell it.

Michael, thanks for the advice I'll def keep you all posted on the progress.

Carlos Ayuso My letters where really simple. It was 2 sentences with spaces in between each line I wrote. And they were all out of state owners. It reads like this:

Hi ( First Name)

My name is Shirley. I would like

to $ BUY $ your house at 123 Main St

in Philly.

Pleas give me a call at (my number)

Thank You!

-Shirley

Adam Weitz Thanks for the kind words. I was really nervous as well and I just kept on saying to myself "Just do it, just do it, just do it".
And I'm glad that I did. Congrats on taking action and I can't to hear about your progress.

Welcome. :-)

Hi all, I sent off my first set of letters on Sunday which was only about 68 letters. My phone started ringing on Tuesday. I was sooo excited because I'm really following my dream and things are starting to happen. I've gone to the
REIA meetings, networked, met new ppl, and have built my buyers list. My phone is ringing and I'm talking to people. not sure that I'm doing everything right but that's part of learning. So someone calls me today and says that they want to sell their house. Everyone else that has called me just asked me for an offer straight off the back and are only willing to sell if the price is right not because there's real motivation there. So the person who called me today lives in CA and there's no mortgage on the house. She transferred the property to her daughter last month and she says she has a friend of hers who lives in the house. Her friend isn't paying her any rent. It's in a nice area and when I looked on Realist I see the house was purchased for 145k. I looked up the comps on Realist as well which gave me about 10 houses w/in .5 miles of the property that sold w/in the last 6mo. and they range from 110k to 176k. She says that the house is really taken care of and doesn't need much repairs, but I plan on going to see it this wknd. But just based on what I saw on Realist, I was thinking about offering 90k. Is that a fair offer? I also asked her if I made you an offer and could close in 2 weeks what would be the least amount you'd accept and she said she wasn't sure yet and she would have to talk to her best friend first and they would get back to me. Is there anything else I should ask her or I should consider or look into before making her an offer to start the negotiating process?
Thanks in advance for any feed back.

Thanks, I'm going to give them a call to upgrade. Do you use them as well or do have another system for comps and making offers?

I need some advise please. I sent my 1st set of letters out on sunday and my phone started ringing on Tuesday. I'm soooo excited that I'm getting some activity. I subscribed to realist and you're supposed to be able to look up comps and you can. However, it doesn't tell you how long it took to sell. I don't know if I'm not using this system correctly or if it just doesn't offer that information. Can anyone shed some light on this system or even advise how I can get the info I need. I plan on using that as a negotiating tool. My phone is ringing now and I just want to be able to offer the right amount for these houses. Any advice/suggestions would be greatly appreciated. Thanks

@Trevor not yet I've been contemplating if it would be feasible for me to attend the meetings. I have a full time job at sherwin williams plus two young kids, but I have a few customers who are. Are u a member?