looking for deal(motivated sellers) - Posted by Shenesa
Posted by Shenesa on April 06, 2000 at 08:59:26:
I am new to investing and I have not done my first deal. However, I was able to negotiate a deal that did not close due to the fact that the dollars were to high for my investors, retailers did not want to put any energy or money into the repairs needed and the contract will expire on the 13th. Needless to say I am encourage because I will use this as a LEARNING experience. I also got a chance to work out the butterflys of talking with sellers/buyers on the phone. So I gained more confidence. (all was not lost)
It seems to be that when I get in my car and drive the different neighborhoods for real estate 4sale that the pickings seem to be more abundant than calling newspaper ads. I know that running ads can be very expensive and therefore more people tend to just resort to putting a sign on their lawn. Do you guys find that you come across more deals by driving the neighborhoods? I have spoken to different agents who seem to be interested, but when I tell them what I want to do, they seem to be less interested in working with me.
Also what are the steps in purchasing hud homes. I know that they do have their own brokers, a 1% down payment required and most of the time calls for extensive repairs. I live in upstate NY and there are lots of hud homes in this area so the pickings are not slim.
Your help is appreciated.