Posted by tang-0-rang on March 25, 2002 at 14:27:27:
Things are going well.I am taking the time to learn a few things before diving in to deep. About 6 months ago, while trying to get my feet wet with a L/O, I nearly drowned. Now I’m just trying to understand all that I can and get into the forclosure game.thanks for asking.
How are you doing? is it getting hot up there yet?
Todd Williamson (CO)
Am I dreaming? - Posted by Zac
Posted by Zac on March 23, 2002 at 16:50:31:
Hears the deal: my brother in Arizona in desperate to sell his house. Says its recently been appraised at $200,000. Says he’s got $50,000 in equity in it. He knows I’ve been studying RE investing and he says he wants to be my 1st deal!! Problem? 1. Im in Michigan. 2.I have no contracts of ANY kind to fax him. 3. I have no fax machine,computer or course material except for the Ron LeGrand “Cashflow Generator” I ordered off the infomercial (which dosent equip me to do any kind of deals). He refuses to list with an agent/broker cause he believes in me.This looks to me like the blueprint for a “subject to” deal…or am I dreaming? Im burning to do this deal…if there is a deal to be done…but I have no material. Can somebody tell me where I can get downloadable/free copies of the necessary forms? I think this is a prime opportunity. What yall think? Hit me back and give me your scope on this. Thanx.
Stacy (AZ) - Posted by tang-0-rang
Posted by tang-0-rang on March 24, 2002 at 16:47:42:
If he see’s your post maybe he can work with you on the deal and split whatever profit comes from a sale.
just a thought
Todd Williamson (CO)
what to do - Posted by Dean
Posted by Dean on March 24, 2002 at 09:39:15:
I may be able to help. email me.
Dean
pinch yourself… - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on March 23, 2002 at 23:59:12:
honestly, you would be in WAY over your head on this…do
yourself and your brother a favor and pass so neither one of you
gets into a bad situation.
BMP
Re: Am I dreaming? - Posted by Michael Factor
Posted by Michael Factor on March 23, 2002 at 18:45:55:
Kinkos can fax anything to anyone, anytime…
Office Max has the forms…
Or you can draw your own, anything will do as long as the title co. can read it.
Re: Am I dreaming? - Posted by Erich
Posted by Erich on March 23, 2002 at 17:29:12:
Zac,
For 50 grand and to help your brother, get on a plane and spend a couple of working days with your brother.
Here is the plan. Go directly to the title company of your choice. First American Title Company will do fine. Tell them you need a blank contract to purchase and then open an escrow account. Then do the “subject-to” deal. You should be able to close within a day or two as soon as the title search is done.
Next, your exit stradegy. List with a realitor, or get a managment company to manage and rent out.
Good luck!
By the way, do this NOW!!! Or the deal will be gone.
Re: Stacy (AZ) - Posted by Stacy (AZ)
Posted by Stacy (AZ) on March 25, 2002 at 11:49:22:
Thanks, Todd. I emailed Zac.
BTW: how’s it going?
Re: what to do - Posted by Zac
Posted by Zac on March 27, 2002 at 13:00:52:
Hey Dean!!
Whats up? Sorry I took so long getting back. I have to use the library computers, so…you know how that can be. But, anyway…you saw the specs on my brother’s situation. What do you think about it? I am CONVINCED that a deal can be done here! He’s hot to sell…ASAP…and he wants to do a deal with me!! It was my understanding that a motivated seller is a prime candidate for a “subject to” deal. What about this am I missing? Im no idiot…I KNOW theres a deal here. If I am off base …please explain things to me…but I dont think I am. By the way, Im glad someone picked up my signal. Thank you for listening, Dean. Look forward to your reply.
Your “brother-in-the-struggle”,
Zac
PS:(I know Im in Michigan and he’s in Arizona…but Im sure there has to be a way to deal with the location issue. Any ideas?)
Re: Am I dreaming? - Posted by Zac
Posted by Zac on March 27, 2002 at 13:10:14:
Thats good to know…but are Kinkos forms detailed enough (Ive never seen one)? Also…what about the location issue (me Michigan, he Arizona)? Is that a problem…and is there a deal here? Ive been told to skip it…there is no deal. I disagree because of the simple fact that he is a HIGHLY MOTIVATED seller. How can a deal not exist when the seller is motivated? I eagerly await any and all feedback on this matter. Thanx for listening, Michael.
I gotta get in the game!! Ive been on the sideline way too long. Can you feel me?
Re: Am I dreaming? - Posted by Zac
Posted by Zac on March 27, 2002 at 13:28:52:
The ALMIGHTY felt my pain…and heard my cry!! Finally!! A voice of reason in the vast wilderness!! I knew I wasnt wrong. As with any other facet of society, this news group is not without its share of the “HATERS” (you know who you are). Ive been reading post after post after post. Ive read Kiyosaki, Robert Allen, Bill Bronchick, Tyler Hicks and many others. I have literally LIVED in RE books since last June on the advice that I should read and educate myself as much as possible (which Ive done with a THIRST). Now its time to mix education with ACTION. I knew I had a deal staring at me…I just needed confirmation (which youve so kindly provided, Erich). Thank you so very much. I will be consulting with you often if you dont mind. You have placed my soul at ease and my mind to rest. I will follow your advice to the letter.
Thank you my “brother-in-arms”
Sincerely,
Zac