All Forum Posts by: James Danchus

BP,

Real quick question regarding a D4D lead that I got a hold of. The owner died in February. Before that they refinanced the mortgage. The lady I spoke to (the grand daughter) said her grandma just wants to sell for what they owe, which is around $171K according to her. Zestimate on the house is $175K. She said it's a 2 level house even though it looks like a ranch from the outside.

My question: Do I have any strategies available to me to wholesale this house? I'm pretty sure I don't but I have no idea what I'm doing so I figured I'd ask.  

Originally posted by @Larry Turowski:

@James Danchus Most investors make an offer and negotiate verbally and then write it up when price is agreed.  But some investors do make a more formal, written offer, more so when a verbal offer is declined.  The thinking is the seller has a firm offer in hand and may change their mind.

That's my line of thought. I keep hearing how you want to get as many offers out as possible so what I'm thinking of doing is just using the BP Wholesaling Calculator and exporting the proposal sheet at the end.

BP, How do you make an offer on a house? Is there any kind of protocol you need to follow or do you just email a number?

BP, Got a quick little conundrum here for ya. So I have a handful of D4D leads that I am running through the county assessor's WS. Seeing what kind of info I can find on them. Correct me if I'm wrong but the only way to predict the kind of equity the lead has is by looking at the "last sale date" right?

If you can't get comps from a RE Agent, I've heard that a lot of people do it off Redfin or Zillow.

Based on what I can see, the trust has the same address as the house on the county appraiser's website. Maybe a letter would be forwarded?

BP, Got a common problem I was hoping someone could help me out with. So I found a property while D4D one day. Took down the address, ran through the county accessor's database, and the last sale came up to a " John Doe Family Trust." I did a Google search and found a obituary but nothing on a lawyer or anything. Where else should/can I look?

Originally posted by @Doug P.:

@James Danchus What "other offer" are you making? They want to sell and/or rent their property and that's exactly what you're calling them about, isn't it?

No I'll never call someone to rent their place just to buy it. If someone posts an ad asking for a renter, that doesn't mean "for sale."

But that brings me to another question for you: how do you position your offer when you are talking to FSBOs. They're typically cheap, right? So how do I call and ask them to sell at a big discount?      

We'll see. Most of the ads on there ask not to be solicited with other offers. Not sure that's the best way to start a relationship with a potential seller. (ie ignoring them)  

I was listening to a podcast the other day and Tom Krol said he had a bird-dog find a deal for him by cold calling Craigslist. Has anyone here ever tried that? What ads are you calling?