All Forum Posts by: Account Closed

Same here Michael. It's all about the money, although it's been years since I've had to deal with homeowners directly.

I don't recommend Terry's program.

He portrays himself as your "Financial Partner" and acts as your go-to guy for notes that you obtain. Problem is, Terry doesn't have the $50 mil proof of funds he used to have from a Hedge Fund he was affiliated with.

He teaches you go find people facing foreclosure, get an authorization to speak to their banks, Terry then uses that information so he can approach the bank as an outside investor, and makes an offer to that bank.

While he's making money on what you get him, he's spoon feeding you information and constantly reminding you that he is the all might investor that has more experience than you do.

There are many articles here (i wish i would have read 1st) that provide more then what you would get out of his course.

Run....

David!!

That is truly OUTSTANDING my friend. Keep up the good work..

Eddie

You guys are the best, thank you much for all the feedback..

@Shaun Reilly

This is a straight OPTION contract. Priced at A and hopefully to sell at B. This home is very unique to the area. I was hoping to wholesale this for a small fee considering the little equity it has. The owners are not interested in L/O.. Thanks for the lengthy feedback

@Todd Plambeck and @Wayne Brooks

Thanks for the feedback as well. I appreciate it.

@ Wayne - If they paid it off and it's worth 340 according to an appraisal, would it be 55k in equity?

@Ann - I listed to your podcast, show episode 9.. great great info.. Regarding this deal, although the comps are much lower, would you honor the appraisal or is it a case of them over improving the property?

I may try to renegotiate a lower price and hope they bite before running..

Greetings all,

What could turn out to be my 1st deal may just be a dud. I put a house under the "option contract". The home is not the everyday home you see in the cookie cutter neighborhoods.

This is a log home with no drywall inside. 3800 sqft, 4/3 bedroom with a loft (the loft has a closet). The lot is shy of 1 acre and very woodsy. It also has access to a private beach.

Last year it appraised at 340k, They wanted 320k for it, I put it under contract for 285k. The home is paid off.

If you run comps on this property you will find they are 165k at the low and 215 at the high for Sell Price Statistics.

The problem with this property is that it will take a nitch buyer (Someone who really really love log homes). I'm considering using an auction to move it but a little worried about marketing cost.

Would you be excited about the equity if i presented this to you?

Respectfully

Eddie

Good Job Brandon.. Love the end w/credits..lol