Joe Kaiser - can you respond - Posted by Jeff

Posted by Carey_PA on March 16, 2002 at 06:20:56:

quit looking for distressed “properties” and look for distressed homeowners…don’t go looking for properties, try to make ways to let the distressed/motivated howeowners call you!

i.e. bandit signs, leaving biz cards EVERYWHERE, small newspaper ad in penny pincher, sending out postcards to out of state owners, sending postcards to tired landlords, etc.

those above are just a FEW ideas. I think there is an artile in the how to’s on different ways for finding motivated sellers…read it and print it out and live by it!

good luck,


Joe Kaiser - can you respond - Posted by Jeff

Posted by Jeff on March 14, 2002 at 11:16:57:

I knew a Joe Kaiser who worked at citibank is that you

Re: Joe Kaiser - can you respond - Posted by JoeKaiser

Posted by JoeKaiser on March 14, 2002 at 12:40:43:

Jeff, it this really you?!?! I think you still owe me that $100 bucks on Patriots win, no? How’s the gang doing?

But seriously . . . sorry, not me. Employment is something I try to avoid.


Re: Joe Kaiser - can you respond - Posted by Jeff

Posted by Jeff on March 14, 2002 at 12:47:14:

Im trying to avoid it also thats why im trying to get into real estate but now i dont know where to start. I hav carleton sheets program but it just seems im missing lots of info

Indeed . . . - Posted by JoeKaiser

Posted by JoeKaiser on March 14, 2002 at 12:56:03:

How can I help you? Where are you located?


Re: Indeed . . . - Posted by Jeff

Posted by Jeff on March 14, 2002 at 14:07:36:

im located in northern new jersey

Actually problem is with two small kids and working 9-6 i dont have much time. but i also am finding that the houses are so expensive out here and i cant find any flexible sellers. its also im reading carelton sheets and i find i have more questions after reading it then before. I a computer professional and by no means stupid, but I dont know where to start

Re: Indeed . . .NJ - Posted by Glen

Posted by Glen on March 15, 2002 at 13:54:54:

Hi, I too am from Northern NJ - Bergen County. It is very difficult to find motivated sellers. I have been looking for distressed properties and even those that need alot of work sell for near market value! Or certainly not low enough for a fix up and flip.

Im still hunting and even went to the court house to get leads on early notifications on foreclosures. House that are distressed in my area get sold for high amounts to builders for new homes because of the land values in our area. I know cause I did one last year. But didn’t get a great bargin as there were others close behind me also ready with cash.

So at the least, the owner knew her house wasn’t worth much, but her property was. By the way it was only 100x100 lot size. Paid 260K, built house and sold it for 650K…as we were digging the foundation! Hate to say it but I probably could have gotten 700! That’s whats happening in our area.

Another was a house with a large lot. Supposidly not too many people knew it was a buildable lot. So I went to the town to get info on it and…
Fa-getta-bout-it …the zoning inspector tried to get it months earlier and said he had a half dozen calls in the last week alone.

Point to all this is we are in a sellers market, especially in our area. The real estates I talk to all say the same thing. They have buyers and not enough inventory. So its very difficult to find motivated buyers that will do creative finance deals. People out there have cash.

I tried to buy a vacant foreclosure that was listed at 230K which needed alot of work. Offered 175K, as the CMA’s in the area were from 225 to 260K. It was not accepted and it just sold in the low 200’s.

And trying to get housed for 70% of value (fixed and ready to sell) is almost impossible.

I think we have to settle for less to make any deals. Which might not be so bad, if we can find them.

Just thought I’d share some things with a fellow NJ investor.

Re: Indeed . . .NJ - Posted by DMH

Posted by DMH on March 21, 2002 at 13:48:31:

I’m in San Diego and have bought and sold property here for over 8 years. All purchase with little or very minmal down. Stop blaming where you live on not being able to invest. It can be done ANYWHERE. Southern California market works, and receives a healthy 30% growth (2000-2001 Golden Hills-San Diego) And you can still get owners to sell. Thing outside the box. Owers will carry 5-15%, explain to them the tax benefits, monthly cash flow, etc… Lease Option properties can be done (I have 2 from l/o) Have the realtor 9and mortgage) brokers to cut commissions 1-2%, delay down-payments. Ask a group of your family or friends who want a healthy return to pitch in a few thousand for the ‘down’ and form a LLC. Stop using location as a way to demotivate yourself and fail before you even attempt to succeed. If you want it bad enough, go get it!