Cheapest add I NEVER placed.

[dealmaker]

If this deal works out it'll be the chepest add I NEVER placed! Yesterday I was working away on a place I closed on a couple of weeks ago, (see my thread "Help me shine this puppy up") and I guy stops his truck and comes to the door.

"Hey, is this house for sale or not?"

Yeah I said, it sure is!

"Oh, well I called the number on the sign a couple of weeks ago and no one ever called me back" (The guy always took at least a week to call me back, but I'm more patient)

Yeah I know, that's David's number, he's pretty bad about that, that's why I'm here now! I didn't point out that David was the former owner.

I let the guy look around, he said he really liked it and was sure his wife would too. His eyes lit up when I told him I'd seller finance him with $3K down!

We made a tentative appointment for Sunday afternoon.

And I'm not done working on it yet!

Shweeeeeeeeeet!

dealmaker

[Debbie]

Well worth the money NOT spent!

Let us know what happens tomorrow afternoon!

[lpittenger]

How sweet it is when you get a deal to fall in your lap! I have one happening for me right now, just fell out of the sky, so to speak!

Well I'll be rooting for your deal to close and you root for my deal to close and with all this rooting going on, :thumbup: something good has to happen! :SM023:

I am so happy to hear these types of stories! Keep us posted!

[SPIVALAW]

Id ask for a refund.

[Dan Auito]

Frank, howsabout writing some off the cuff words of wisdom so I can turn it into an e book and make you a few bucks for dispensing that wisdom. You've got it in you brother!

[Ceres]

It its good to hear of deals like that.

On my first Real Estate deal. I had this house I did a lease option on. The buyer pulled all my signs, info tube and didn't find out until a week later after she moved in. She was great, paid the rent a week early and bought the place. She told me later she fell in love with the place and took my signs cause she had to have it. . I was happy to hear that.

She fell in love with the place, words I heard from Jeffery Taylor in my early education.

John

[Coursms]

Good going! Best of luck to you on the transaction.

Mike

[Tantric Realty]

dealmaker, were you in a hurry to sell or had no equity? I thought you should be receiving at least 10% down when doing a seller financed sale.

Thanks, I ask because I am thinking offering the house I have under contract seller financed... and 3K down doesn't even seem enough for a Lease Option Fee, let alone a Seller Financed down payment.

Scott

[dealmaker]

Hurry to sell? NO.

No equity? NO.

That type of sale is my SOP. It's how I earn my living. This case was pretty typical; 1000, sq ft, 2/2, needed a roof, exterior paint and some "freshening". I purchased it for $50K CASH, put about $3700 into it, including utilities and insurance and sold it for $70K.

$2K down payment ads bring a ton of response. Generally it takes less than a week to get them sold. The buyers gets a nice house with a small downstroke and no credit check, I get 30 amortized/10 year balloon loan @ 9%, which is yielding me about 13%!

dealmaker

[Tantric Realty]

ahh ok, so your just getting cashflows. not a bad strategy. plus you can sell a seasoned note to a contract buyer...

I am very interested in doing owner financed deals, for they seam to be "where its at" on selling :smiley:

[dealmaker]

Yep, IMO it's the best profit potential there is, it ranks up there with (1) pawnshops (2) rent to own (which it's pretty close to), and (3) junkyards.

Tantric wrote; plus you can sell a seasoned note

Except I would never be that stupid!

delamaker

[DAM]

Frank, howsabout writing some off the cuff words of wisdom so I can turn it into an e book and make you a few bucks for dispensing that wisdom. You've got it in you brother!


I'd be very interested in this type of work Dan.