Whats up folks,
I felt like starting a journal, your welcome to comment, ask questions. Let’s see how long this will last for. lol
Right now I’m in a buying on Land Contract phase. I purchased this course by Nicholas Modarelli, maybe some of you have it also. Anyways, it has some cool stuff, it was a good supplement to all my other courses by Ron LeGrand and Kris Kirschner. I was talking with this Seller Thursday who may sell it to me on LC, in fact I already talked with him a few times and I’m going to research the comps this weekend… it’s just a little far but maybe I’ll do it tomorrow at night so there are less cars.
So this guy has a single family and he thinks it’s worth around 490k but I don’t trust him on that analysis, but I do think he’s flexible and he’s just trying to get the best deal he can get. So I want to give him full market value, will probably get a 7 year term, then I’m going to raise the price 10%, collect half the down payment, give him the other half, and then split, or maybe stay in the game and collect the payment spread through a sandwich contract thing… not sure.
Well, that’s the plan anyways… lol. So if I get it under contract, ad in paper “No Bank Qualifying, 4/2.5 , excellent condition etc…”
Something like that. I found that talking with buyers is usually alot more fun than talking with sellers. lol It’s probably just because I’ve talked with too many unmotivated sellers, but they were all valuable experiences though, even if it was simply character strengthening. That strength will then guide you to negotiate better with flexible sellers.
I also want to go to the courthouse soon and get some default leads, I’m about to set up my live operating service again and also mail out my expired listings, I just need to stuff my envelopes which will probably take like 3 hours. The address and return address is already on all of them. Thoughts?