how does robyn thompson get all those deals - Posted by MikeT

import · February 18, 2002, 3:29pm

Posted by wm on February 19, 2002 at 08:00:51:

If you can buy a HUD home for $1000, be careful. For that price it will be uninhabitable, and require a lot of rehab work. HUD just doesn’t give properties away and they usually will get market value. And if market value is $1000 be prepared to shellout some $$$ to make the house livable.
Just went through this same scenario. OUCH!!!

import · February 18, 2002, 3:29pm

Posted by MikeT on February 18, 2002 at 16:29:05:

A quick question for those of you who have read about robyn thompson. She rehabs around 50-60 properties a year. My question is does anyone know the primary method she acquires her properties. Is it REO’s, foreclosures, or just finding junkers? Any info would be great.

import · February 18, 2002, 5:16pm

Re: how does robyn thompson get all those deals - Posted by Richard

Posted by Richard on February 18, 2002 at 18:16:33:

First, she is lisenced,so shes on the M.L.S every morning.she has a big huge "PINK" sign that was on the back of a bus, it goes in yard of the houses.I believe she has a Realtor feed her deals before they hit the M.L.S OH, "Fliers" that was the main one, in the newspaper 10,000 of them.She may do that every 2 weeks Another every important piont is that in her area they have a loan program where all you need is $800.00 down that is why she can sell her houses fast for all cash so check your area and see whats out there

import · February 18, 2002, 5:04pm

Re: how does robyn thompson get all those deals - Posted by JJZ

Posted by JJZ on February 18, 2002 at 18:04:33:

I believe Robyn, who has her Realtor’s license, checks the MLS several times a day to get the jump on her competition to get offers out on rehab prospects fast. She may use other methods to attract sellers, but I am not aware of any others. I believe she currently divides her time between her rehab business and teaching about it on the road.

import · February 18, 2002, 11:07pm

Thanks for the responses - Posted by MikeT

Posted by MikeT on February 19, 2002 at 24:07:51:

Thanks for the responses. I think she has a pretty good system going.

import · February 18, 2002, 7:38pm

Re: how does robyn thompson get all those deals - Posted by Rinaldi

Posted by Rinaldi on February 18, 2002 at 20:38:02:

Are HUD repos a good deal? A buddy in the mortgage banking business told me he buys homes in inner city areas for as little as $1000. He then gets a tenant to make 12 consistant payment on a lease purchase/ bond for deed and then he will take this to Mortagage company and get a mortgage for the homebuyer. He said this gives him two things a consistant renter and his money back after only a year. Any thoughts on this.

rinaldi