C.R.E. in sellers market? - Posted by Mike Ross

Real Estate Investing Real Estate Gurus
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Posted by Rob FL on May 12, 1999 at 11:34:25:

If the city is very small, you may want to consider targeting the nearest large town.

Otherwise look for motivated sellers. Read some of the how to articles for ways to do this.

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C.R.E. in sellers market? - Posted by Mike Ross

Posted by Mike Ross on May 11, 1999 at 14:51:35:

Hello to all,
Could anyone please tell me the best
way to use C.R.E. in a small city where there is now an
extreme sellers market?

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Re: C.R.E. in sellers market? - Posted by Mike Oldfield

Posted by Mike Oldfield on May 14, 1999 at 01:12:36:

Please take this to heart. Buy into it. If you dont you are going to have a very hard time.

There are motivated sellers in every city in the united states. The only difference between a hot market and a dead one is you must move faster.

Set up for speed. Establish a line of credit so you can move fast. Get the owner finance, freely assuamble (rare nowadays) or land contracts going then use the line for down payments.

OR

Use a bigger line for a cash today type offer with a decent discount and then refinance at full appraised value soon after to restore the line and do it again. The key is to take the deal out of the market before any one else can get a cotract drawn up. Most buyers need a mortgage contingent. They simply can not compete with you. You just too fast.

I have worked in hot markets and lousy ones. Hot markets are more fun because you have to pull out all the stops and I like the challenge. I get really excited to be one step ahead of everybody else. They cant keep up bacause …

I HAVE A NEED FOR SPEED.

I would feel sorry for my competitors if there were any. I crush them all. I have the deal under wraps before they know its for sale.

Get a firm grasp on the fundemental strategies. Then go out and kick the dickens out of your competition. I am getting excited just writing this post. Churn and Burn. Take no prisoners mikey. YOU CAN DO IT

Good Luck

Mike Oldfield

P.S. I just bought 6 props with 21 units this week in four separate deals. Best week ever. I lovew this business. CRUSH EM