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JerseyGirl
03-29-2005, 01:03 PM
Hey Everyone!

I know that I haven't been on the boards for a while, but here I am with something new...I hope

For the longest time, while on the way to my aunt's house I noticed this FSBO house & I sorta placed it in the back of my mind & kept going

A few weeks went by where I hadn't visited my aunt so I decided that last weekend I'd go check her out so I drive by this house again & the sign is still out there but the house was completely vacant! I almost hit the breaks but again I drove by (yeah I know...sucks)

Well yesterday I actually took a closer look, I didn't get out but I sat there taking notes on the house

Its a small house on a dead end street.

The only thing left in the house was a lamp & there was a sticker on the door.
I should have gotten out & looked at it but it was raining cats & dogs and I didn't want to look all suspicious :-X

The sticker was like this bright orange thing, not big but definitely visible

The house is located on a dead end street BUT on this side of the street it was the only house there. So I was thinking, Ohhh man...it might be tough to sell that house!

It doesn't look bad but the area isn't really great. Its near a wooded area, but its a good area, plenty of shopping centers,fast food places around but its on a fairly busy street which might not allow for kids to play out front, if you know what I mean

I don't know that it would be ideal for a couple with kids, maybe for someone who isn't interested in kids but has animals instead? The wooded area isn't gigantic, I'm sure the right person with some money can do alot with it, but for now it looks...BLECH!

There are maybe 2 daycares in the area, plus a YMCA so an actual school has to be around there somewhere.

I don't know if I'D live there with kids UNLESS that place was fixed up, especially that darn wooded area! It looks really weird sitting there in that area, almost like its by itself but its not! Its that dang wood stuff! lol

I called my investor, interesting guy. He said something that really struck a cord with me.

I told him about the house & that I was gonna get the number, check it out, etc etc...he said that he had a few appointments but he'd call me back later...he didn't but thats ok

But then he said "Or you could call them"

I had this lightbulb moment when he said that. It was like he was telling me to do the work, do it myself. He said it in a very offhand kinda way but it still hit me in the chest where all my fear lives. I think I'm afraid to do the work because either I'll suck at it or I'll actually be good at it?
I guess I was sorta thinking (hoping) he'd hold my hand through the whole thing...guess not! lol

I looked up the house online but I don't really know what it all means in terms of what I read

It has the OWNER as a woman in Florida, but the contact information is a man from that area

It says its assessed at $53,000 but priced at $131,000

Any suggestions? I want to call the guy but I don't know if this is anything worthwhile

HELP!

Frank J. Festa, Jr.
03-29-2005, 01:41 PM
Hi Jersey Girl:

I am a REI from North Jersey, do you need assistance or partner?

Regards, Frank

dealmaker
03-29-2005, 01:42 PM
Now putting on my "dutch uncle" hat.

Well JG you're asking us to "solve the crime", but you're the detective on scene.

You are the one to interview witnesses!

You are the one to analyze the crime scene!

You are the one study the forensics!

You are the one to talk to the coroner!

Sorry, too many evenings watching "Law And Order".

Do you get the picture? Drive by the house, get out, walk up to the front door and see what the sign says. It may be a notice of missed delivery from UPS, it may a notice that the house has been winterized, it may be a notice of pending foreclosure. But NONE OF US can read it from here.

You said the house is "assessed" at $53K but priced at $131K. Priced where, is it for sale? BTW, assessments mean ABSOLUTELY NOTHING in terms of market value.

If you've got a local number call it. Ask what their plans are. If you can't get them call the Florida person, 2.9 cents a minute is cheap. Ask what their plans are. Worrying about the number of day cares, schools and shopping in this day and age is silly. Almost any place in the US is pretty close to all of them. Some people like woodsy areas, some people don't, it doesn't matter to people who want to make a profit.

DO YOU WANT TO MAKE A PROFIT?

Anyway it's time to do something.

dealmaker, now taking off his "dutch uncle" hat

JerseyGirl
03-29-2005, 06:02 PM
I agree Dealmaker, it is time to do something

I just hate being the "new girl" I hate feeling like I have no clue what I'm doing & if I have some clue, all the clues leave out of nervousness :SM031:

However, I did call the owner & left him a message :SM088:

steve55121
03-29-2005, 06:29 PM
Hello,

Sounds to me the house went back to the lender. I have worked several deals and it seems once the house is empty the owner can lose the redemption period and it forcloses faster.

-Steve

REIrob
03-29-2005, 07:42 PM
jersey girl,
just go out there and do it. 'no' doesn't hurt. i have placed an ad. And will be direct mailing 200 foreclosures. I don't know what's going to happen but the quicker I get over this clumsy, "what do i do next", feeling the quicker I can gain my confidence. So, GO FOR IT, GIRL.

JerseyGirl
03-29-2005, 08:07 PM
Hello,

Sounds to me the house went back to the lender. I have worked several deals and it seems once the house is empty the owner can lose the redemption period and it forcloses faster.

-Steve

Hey Steve!

Thanx for the info, I knew that sticker had to mean something! :punk:

JerseyGirl
03-29-2005, 08:15 PM
jersey girl,
just go out there and do it. 'no' doesn't hurt. i have placed an ad. And will be direct mailing 200 foreclosures. I don't know what's going to happen but the quicker I get over this clumsy, "what do i do next", feeling the quicker I can gain my confidence. So, GO FOR IT, GIRL.

Hey Rob :SM009:

I know what you mean about that clumsy feeling, that's why I'm trying to push past that by making calls

Ugghh I hate this but it has to be done, I didn't become "good" at anything overnight!

REIrob
03-29-2005, 08:49 PM
I grew up in Washington Township. Ever heard of it?

JerseyGirl
03-29-2005, 09:26 PM
I grew up in Washington Township. Ever heard of it?

Of course, not sure exactly where it is, for all I know I drive through it/past it everyday :smiley7:

REIrob
03-29-2005, 09:48 PM
Turnersville, NJ. Route 42. My old stomping grounds.

JerseyGirl
03-29-2005, 10:23 PM
Turnersville, NJ. Route 42. My old stomping grounds.

Ohhhh okay, not bad

Now you're a Georgia Peach huh? :SM139:

JerseyGirl
03-30-2005, 04:21 PM
Well, I called the guy twice & left 2 messages :SM025:

Now what?

Do I keep calling or cut the guy some slack?

Do I send a letter to the address that I found online?

:SM106:

JerseyGirl
03-30-2005, 06:41 PM
Ok the guy called me back & I believe that he's also an investor

He told me that the house was completely redone & its ready to be moved into

He either wants to rent it out or have someone buy it

I was so nervous on the phone :smiley11:

Then I felt like a complete retard :smiley7:

And to think, I have to keep doing this until I land one :cussing:

lol

AIR
06-09-2008, 01:47 AM
Jersey,

I think your missing a larger more important part of this deal...how are you going to finance it??? It doesn't matter if you find the best deal in the world if you can't finance it you have no deal. If your investor friend isn't interested in the deal that should through up a red flag. I have found that financing the deals requires more planning and time then actually finding the deals. Don't get nervous when your on the phone, think positively and have confidence, if your not sure about something ask questions explain your situation everyone needs to start somewhere.

mike_mn
06-09-2008, 03:51 AM
Old thread alert!

Air, this is a 3 year old thread...I don't think JerseyGirl has even been on the board for a couple years or more. Good advice, but falling on deaf ears in this case methinks.

AIR
06-09-2008, 01:58 PM
wow, lol I didn't even notice. Jersey is back on the board though.

mike_mn
06-09-2008, 02:20 PM
Her last post was 10-2005...sure your not thinking of someone else?

Debbie
06-09-2008, 04:36 PM
wow, lol I didn't even notice. Jersey is back on the board though.

Her last post was 10-2005...sure your not thinking of someone else?

Hee, hee. Methinks Ryan has been "checking" her out. :SM083: Bad boy!

Mike is correct but her last activity here was June 2, 2008 hence may have caught Ryan's attention.

AIR
06-10-2008, 02:39 AM
HAHAHA! I have eyes for only one girl on this board...DEBBIE! jk

Debbie
06-10-2008, 01:35 PM
HAHAHA! I have eyes for only one girl on this board...DEBBIE! jk

Be still my heart. :SM120:

Everlast Solutions
06-10-2008, 03:25 PM
Hi everyone, I'm Tom w.central fla. I'm helping my friend with her first purchase she is getting approvals from the USDA plan 502 100% fin. no $ down, . We're looking to capitalize on a preforclosure, reo ect. I have been doing alot of homework read Dans articles along with countless others. We're now ready to tackle the world. I do have access to funds I would like not invest more then ten on this first deal. I have letters going out to outa state owners along with ride by specs. Looking for advise on what deal to look for and will we have any problems with the govt guidelines. Built for 27 years residential, no questions I have a masters in every phase to estimate and rehab propertys. So whats the fastest way to a possitive turn around. We do have alot of potential investors watching, want to make it a great one. Oh yeh We're not affraid to work for it Thankx Tom