Posted by Bronchick on April 02, 2002 at 14:16:12:
Both - there are some areas of Jersey that are so hot that you may not be able to get more than a 10% discount. But, if things are that hot, you can get MORE than market price.
FLIPPING COURSE - Posted by marc (nj)
Posted by marc (nj) on March 28, 2002 at 12:07:33:
I JUST PURCHASED BRNCHICK’S FLIPPING COURSE AND I JUST GUESS IM LOOKING FOR ASSURANCE THATS THIS IS MONEY WELL SPENT. WILL HIS PROCEEDURES WORK IN A SELLERS MARKET? AND IN MY AREA MOST SELLERS RELY ON REALTORS TO SELL THEIR PROPERTIES,FSBO AND LEASE OPTIONS ARE FEW AND FAR.ANY THOUGHTS ON THIS COURSE ,AS ALWAYS, ARE GREATLY APPRECIATED!!!
Re: FLIPPING COURSE - Posted by William Bronchick
Posted by William Bronchick on March 29, 2002 at 10:23:52:
Marc, you need to adapt to your market. In Syracuse, NY, you buy properties for 50 cents on the dollar, then flip them for 60 cents on the dollar.
In NJ, you may buy it for 90 cents on the dollar and sell for 105 cents on the dollar. Also, stick to the middle-class working neighborhoods, not the “hot” upper crust neighborhoods.
Re: FLIPPING COURSE - Posted by TomNJ
Posted by TomNJ on March 29, 2002 at 09:11:41:
Marc,
I just received that book yesterday. It looks great so far. Think about though, Bronchick is an attorney who practiced what he writes. I think the Lawyer perspective is really important. I’m only in the second chapter and already read a few potential gotcha’s that I didn’t know before buying the book.
Marc, what part of NJ are you focusing on. I’m ‘down-the-shore’ and the RE market here is on fire also. I don’t think that matters when you’re flipping, actually it helps. Don’t let the market climate prevent you from executing. If long term interest rates go up then prices will level out or even go down. Then change your strategy from flipping to long term purchases /rentals.
Do you belong to an investment club? There are a few in NJ. I haven’t joined yet but everyone who is successful here says it’s vitally important. I’m starting to believe them. I was skeptical to order some of these courses but now that I have and I’ve learned so much, I’m really glad I did. My approach is to educate myself on many RE subjects, it helps build my confidence when I speak to people.
No matter what you do for a living you must be educated if you want to come off as an authority on the subject. And it seems that what we?re attempting to do here is approach people with a problem so that we can solve that problem, thus we are the authority, so we can help them, help us - profit.
Re: FLIPPING COURSE - Posted by JoeS
Posted by JoeS on March 28, 2002 at 15:32:23:
Yes, his course will work if YOU, yes YOU apply what is written. The material is not at fault if you do not succeed! The literally thousands of satisfied customers can vouch for that. If MOST sellers go through a realtor, then YOUR job is to locate the sellers that cannot or do not want to sell through an agent! Happy investing.
Re: FLIPPING COURSE - Posted by TomNJ
Posted by TomNJ on March 29, 2002 at 13:34:00:
Bill, when you say “In NJ, you may buy it for 90 cents on the dollar and sell for 105 cents on the dollar”, are these numbers accurate or where you simply making a point that every place is a little different?
Thanks for your patience, I’m still green…
Re: FLIPPING COURSE - Posted by marc (NJ)
Posted by marc (NJ) on March 29, 2002 at 14:47:36:
Tom I’m also down the shore. Feel free to call 6095171049 or e-mail fearnofish1@aol.com.I wouldnt mind helping out others who have the same goals.I have three deals in the works . talk to you later marc