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Author Topic: When will prices start dropping?  (Read 3099 times)

Offline Gifted Invictus LLC

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Re: When will prices start dropping?
« Reply #15 on: September 05, 2020, 10:00:09 am »
Yes, the prices will drop soon. Be prepared!!!!


« Last Edit: September 05, 2020, 12:20:17 pm by Mdhaas »

Offline Randoskie

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Re: When will prices start dropping?
« Reply #16 on: September 12, 2020, 11:26:12 am »
Several of my former buyers have txted and emailed me asking if I have any wholesale deals available. They tell me there is low inventory. I tell them I've been waiting for the SHTF, with evictions and foreclosures. Then they remind me that our Ca Governor nukem has extended the moratorium on evictions till nex Feb.
My ol buddy and wholesaling partner Bob sent me photo's of an old farm house that looks like it was once a mansion.
He tells me it was built in 1925 and sits on 1 1/4 acres in the middle of some almond orchards in a one horse town called Exeter. The place is def rural and secluded. It's a gorgeous old home that has been upgraded and repaired along the way. It def needs 60-80K in new repairs and upgrades. After drooling over the photos I tell Bob to go get it on contract, but he claims none of our local investors want it at the 275K price, especially cuz it needs extensive repairs, but hell, after repair value is 450K, Bob says the price is too high and sev investors that seen it ran for the hills. He dont want to piss off the realtor investor if we cant sell it. I tell him to give it to me and I'll show you how it's done. Now he wants it. But says we cant market it on CL, I tell Bob, no Dude, we need an out of town buyer, from San Fan or Portland or LA. And that these people are fed up with the city crime and lock downs ext.
I tell Bob to get this property locked down for 270 and we will sell it for 320K
Bob is scared of this one, cuz the realtor/investor might get pissed off if we cant sell it. He's called a few times, I had to hold his hand and bottle feed him some soothing words.
I don't know if we can sell it, a lot of the houses we previously had I never thought they wud sell. But they did.
And it sure be fun trying.

Offline Randoskie

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Re: When will prices start dropping?
« Reply #17 on: September 12, 2020, 04:27:24 pm »
I just watched the most fascinating webinar. I admit I'm skeptical as all get out, even though I've made tons of money from a late night TV commercial selling a 20 dollar book on real estate that got me started.
Well, this is a method of doing real estate deals that I never heard of and it is frikin outrageous.
Imagine this.. We find properties that have mechanics liens on them that are up for sale.
Why the hell wud we want that?
Here is the concept in simple terms and even I cud almost understand it.
We contact the lien holders by mail or phone, and negotiate a pennies on the dollar payment.
This is an old debt he had given up on and cud be ready to grab some fast cash and run on a debt that he gave up on..
We somehow know that the house is being sold or is in pre-foreclosure.
Then we get the documents signed and submit to the Title company. I speculate u hav to record the contract but that's a $25 fee in my city.
It sounds so insanely easy and doable. The course costs $1,497 buks. It includes full instructions with all contracts needed.
I need some partners on this one to share the cost and rewards.
The webmaster kept saying how you will be helping people get their money.
But I'm seeing the dark side. How ethical is it to convince a lien holder to accept 10-15 cents on the dollar to go in your pocket when the property sells?
It sounds even sleezier than the bottom feeding wholesaling deals I've been doing.
And I admit, it's just my kind of business.
It's all done virtually, contracts sent and signed with emails, even notaries online now with video verification. We can buy lists of properties w liens and use virtual assistants to do much of the grunt work.
We dont have to meet homeowners or sellers or anybody, I can rotate on my thumb doing this business.
The price tag of the course is high, and I question, do I buy this course and risk my food and mortgage money?
But then...
Cud this be the baddest ass business that I never heard of? And get me to where I want to be?
 

Offline Randoskie

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Re: When will prices start dropping?
« Reply #18 on: October 08, 2020, 10:49:24 am »
My wholesaling buddy Bob just slam dunked a mountain house, I thought it was an outrageously insane price for an old fixer but he sold it in 2 days and is making 10 frikin Grand. His realtor buddy that had it listed is making 50 frikin grand.
What is my excuse?
I'm thinking city dwellers want out and buying everything in sight. Price don't matter.

Offline Luke9686

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Re: When will prices start dropping?
« Reply #19 on: October 29, 2020, 10:33:05 am »
I just watched the most fascinating webinar. I admit I'm skeptical as all get out, even though I've made tons of money from a late night TV commercial selling a 20 dollar book on real estate that got me started.
Well, this is a method of doing real estate deals that I never heard of and it is frikin outrageous.
Imagine this.. We find properties that have mechanics liens on them that are up for sale.
Why the hell wud we want that?
Here is the concept in simple terms and even I cud almost understand it.
We contact the lien holders by mail or phone, and negotiate a pennies on the dollar payment.
This is an old debt he had given up on and cud be ready to grab some fast cash and run on a debt that he gave up on..
We somehow know that the house is being sold or is in pre-foreclosure.
Then we get the documents signed and submit to the Title company. I speculate u hav to record the contract but that's a $25 fee in my city.
It sounds so insanely easy and doable. The course costs $1,497 buks. It includes full instructions with all contracts needed.
I need some partners on this one to share the cost and rewards.
The webmaster kept saying how you will be helping people get their money.
But I'm seeing the dark side. How ethical is it to convince a lien holder to accept 10-15 cents on the dollar to go in your pocket when the property sells?
It sounds even sleezier than the bottom feeding wholesaling deals I've been doing.
And I admit, it's just my kind of business.
It's all done virtually, contracts sent and signed with emails, even notaries online now with video verification. We can buy lists of properties w liens and use virtual assistants to do much of the grunt work.
We dont have to meet homeowners or sellers or anybody, I can rotate on my thumb doing this business.
The price tag of the course is high, and I question, do I buy this course and risk my food and mortgage money?
But then...
Cud this be the baddest ass business that I never heard of? And get me to where I want to be?

Rando, there are actually a couple other options to deal with these liens.  One is to just buy the house subject to the lien, in which the lien will expire at some point.  Usually 10 years from the date it was filed (in most states).  The other is to send the lien holder a lien release with a demand letter, telling them they are holding up clear title.  I've used the lien release option a few times, and each time the lien holder signed, notarized, and returned it so it could be filed.  They were all medical liens, each in excess of $5K.

Offline turulob95

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Re: When will prices start dropping?
« Reply #20 on: November 12, 2020, 02:56:35 pm »
I'm thinking there will be lots of houses apartments available but the working class people are out in a tent poopin on the sidewalk. These potential renters and buyers can not afford to live in a house or Apt cuz they got no frikin jobs. The landlords are losing income and equity, and can't pay their mortgages. Who you going to blame? Trump? The Virus? China?

 




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