Thanks to, Peter Conti and David Finkel -... - Posted by Sean W. (NOLA)

Real Estate Investing
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Posted by Sean W. (NOLA) on September 11, 2002 at 24:50:30:

Hey Adam,

I got a list of people looking for “Owner Financing”
from a Realtor [OF ALL PEOPLE!!!]

I also make friends with Loan Officer’s at all those
Finance Companies that send out “mass mailer’s”…and
get allot of their turn-downs…T/D’s due to time on job…like small business owner’s who just went into business less than two years ago and dont have W 2’s for the previous two years plus “strong bank statements” etc.

You can also Network with S.C.O.R.E.S…Service Core of Retired Executives…and members can refer people to you when one of the people they are mentoring
/consulting,runs into the above situation.

And ads…but their not “pro-active”…so I dont count on them heavily.

Also, I’m not to partial to the idea…but I do know one investor that pays people to “Dumpster Dive” behind
Banks,Mortgage Brokers and Finance Companies…his philosophy: “Shame on those,who don’t shred!” He has a LARGE T/B list…alittle funky smelling…LOL…but big!

Best Regards,
Sean W.

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Thanks to, Peter Conti and David Finkel -… - Posted by Sean W. (NOLA)

Posted by Sean W. (NOLA) on September 10, 2002 at 22:56:36:

I just wrapped up two L/O’s this evening!!!

Both are water front property’s…20 minutes north of New Orleans.

For those “begining investor’s” out there,I urge you to
take the time to review the book,available online FOR FREE…
at www.resultsnow.com entitled Multiple Streams of Income.

Ive just taken control of $302,500 worth of property,with
only $20.00 out of my pocket!!! Both are located in area’s
that are appreciating at the rate of 9%…and that rate is projected to increase steadily over the next three years,
due to the housing demand in the area…people are tripping over themselves to move away from New Orleans and into the
Burb’s.

I already had T/B’s inline, so I’m looking at collecting
a total of $29,000 down…$10,000 of which I’ll pocket and
have a spread of $400.00 a month combined,from both property’s.

BEST OF ALL… I found the house’s listed in the “For Rent”
section of the daily newspaper…with out of state number’s
for each!!! [AND TO BOOT, NO OTHER INVESTOR’S HAD CONTACTED EITHER OF THEM!!! I guess they were all too busy,viewing their emailed “foreclosure lists” or something?] :wink:

In 24 months, I am “potentially”,should my T/B’s exercise
their option,going to profit $54,450.

Worst case scenario, I get to do it all over again with new T/B’s 24 mos. fom now!!!

THANKS PETER & DAVID!!!

Ive done L/O’s in the past,but these margins are well above
what I had been doing!!!

Best Regards,
Sean W.

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Re: Thanks to, Peter Conti and David Finkel -… - Posted by Pete

Posted by Pete on September 30, 2002 at 23:26:22:

Just curious, what methods did you use to acquire/secure the two properties from the motivated sellers? Do you do L/O with the sellers and then turn around and have a L/O with your T/B and hence take a spread??

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Re: Thanks to, Peter Conti and David Finkel -… - Posted by Adam (Austin)

Posted by Adam (Austin) on September 10, 2002 at 23:35:53:

Cool stuff! Congratulations!!!

What did you use to find your tenant buyers? (I’m finding that this is really where the magic is!)

  • Adam.
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Re: Thanks to, Peter Conti and David Finkel -… - Posted by avery hodge

Posted by avery hodge on October 11, 2003 at 10:05:37:

Is lease options the only technique Peter conti or David finkel use ? Do they work wholesaling or flipping properties ?