HOW ARE YOU GUYS??!!

General Real Estate Investing
1

Hello to all

I would like to know how are you guys coming across deals in your local area? FSBO, REO, PRE-FORECLOSURE ETC. I notice that most of the defaulted loans now are loans that where made in the time of the boom and the begining of the downturn 05-07. So how are you picking up great deals?

2

pjm, this is discussed in the marketing section.

3

I’m not asking how to market I’m asking are you guys buying REO’S OR PRE-FORECLOSURES, FSBO which of these do you find most of the good deals at. IT’S NOT A MARKETING QUESTION

4

Sounds like somebody needs to take a walk away from the coffee pot! LOL!!

pjm, I have bought reos and fsbos. I have found reos by looking on the mls. I have found fsbos by MARKETING for motivated sellers. I have found deals for others by MARKETING. If your looking for great deals you need to learn how to…

wait for it…

MARKET.

Have a great day! :slight_smile:

5

Ok let me take a second shot at it. Sounds like you are MARKETING but you are finding that the deals are upside down and not finding enough equity is that it?

Not every market is the same, and usually good deals are hard to come by in some situations. Some options you have are:

  1. continue to market to them and hopefully you will find some with good equity to buy. It is numbers game
  2. negotiate short sales on preforeclosures and build the equity yourself
  3. negotiate with the lenders of REOs and see if they will take much lower price. One strategy is to build solid relationships with REO realtors to give you heads up about new properties before they get listed. Good REO deals get snatched before they even get listed and get listed for contractual agreements.
  4. target properties where the owner owned them for X number of years where X is enough number of years for them to build equity and not get affected by the downturn
  5. target free and clear properties

my market is not bad, so I can find deals. so it is market specific. I know a good wholesaler in LA who is finding deals all the time still, he just has to work harder at it.

6

I misread the title as “HOW ARE YOU GAY??” lol

7

LOL @ aares

Oh well, I heard before that gay are the better gender in sales and marketing! :slight_smile:

8

What?

9

camilleb

No one here in gay someone was just being a a@#$ hole. Where on here to talk about real estate. Not anyone sexual perference.

10

I know guys, I was just saying that gay people are also good in marketing… :slight_smile:

11

To answer the question: I’m good, still learning the basics of real estate industry and I’m happy that there are a lot people willing to give information and share knowledge in this forum… unlike other forums lol