Courtney Kostelecky

What about if you scheduled a "total house fumigation" You know the kind where they tent the whole house up and the people have to leave! Just a thought. Courtney Kostelecky http://www.DebtFreeNews.com The FREE Newsletter that can save you THOUSANDS!

After reading the above post, I can see a couple of things to watch out for. First, he did not pay all of the option money before taking posession of the property. If they did not have the 6k needed, but had 3k now, I would take the 3k and add $500-1000 per month ON TOP of the monthly rent. I also would not have waited this long before starting the eviction process. I know from renting experience, that once I was a few days late paying rent, after the 3rd day after rent was due, I got a 3 day notice to pay or quit. I think the key is to let them know up front that if you pay late, you forfeit your rent credits, as well, as the eviction process will start. Courtney Kostelecky http://www.DebtFreeNews.com The FREE Newsletter that can save you THOUSANDS!

Here's the deal. House is in foreclosure. Actually goes to auction on may 17. Bank needs 5k. I have an option to purchase for balance of 73.5. It's worth about 74. mo payments 625 Ran a Rent to own ad Sunday, and got 16 calls. Set up a group showing for 8 people, (the other people only had 1k as a down payment, and I told them to keep saving, becasue they need at least 3-5 or even more depending on the property.) 1 person showed. She has 3k, so it might not work. I told her I need at least 5, but if she can come up with 3, i'll give it a shot. Get home, and the phone is still ringing. Get 2 more appointments for tonight. I couple actually tried to buy the same home a year ago, but was too late, and they will let me know if they can come up with the 5. They can come up with 3 by friday, and I'm thiniking that if they can come up with the balance, and the first payment by the 17th everything should be cool. Plus side is that I now have a list of about 12 people activley looking for homes, so when I talk to a homeowner, and they see that I already have a list, they might be more willing to do the deal. Selling price is 83. I don't stand to make a killing on this one, and may just walk with 1k as an assignment because I know the person in foreclosure, but still made some cash. I got 3 debt settlement consultations, and one budgeting consultation appointment as well!) (it's my side business) Courtney Kostelecky Debt Elimination Specialist http://www.DebtFreeNews.com The FREE Newsletter that can save you THOUANDS!

I don't see why you couldn't call it "advertising expenses." Courtney

No, you are missing the big picture. Interest only is INTEREST ONLY! There is no equity paydown. At the end of the term, you still owe the full amount. Most of the Interest only programs are for home equity loans. To find out more about my philosophy on debt and how to eliminate it, you can purchase the "Debt-Free and Prosperous Living" text book, available from me or pick up "Are You Being Seduced into DEBT?" by John Cummuta. Those are the books that I base my "Get Out of Debt " Workshops and consultations on. I don't have time to in this post, but one of the reasons I got into L/O is because I can help people. I can help them get into a home and work with them to get their DTI down so they can qualify for the home, and then once the home is purchased, I take them on as a client and show them how to automatically become debt-free including their new 30 year mortgage in as little at 5-7 years! Courtney Kostelecky http://www.DebtFreeNews.com

I teach a "Get Out of Debt" workshop, and the type of loan you mention $300,000 for only $800/mo is true. It is an INTERESST ONLY loan, usually for a period of 10 years, and then it converts into a regular fixed rate loan for typically 30 years. This is because people are monthly payment driven, and only focus on the low monthly payment. Courtney Kostelecky http://www.DebtFreeNews.com

Hi I have a couple who wants to relocate to New London WI. They are looking at a Contract for Deed or a L/O. Theyare looking for 2-3b under 100k. Looking to relocate in May or June Thanks, Courtney Courtney@debtfreenews.com

We have 2 seasons. Winter, and road construction Courtney

Hey all! I was perusing some FSBO ads online in my hometown, something just occured to me. There is a way to spot a motivated seller by looking at their ad. This won't work for every area, but I live in the north country, and when I see a FSBO ad with a picture of the property attached, and the picture has NO SNOW, well, then that property has been listed for awhile. I would suspect that the motivation factor might improve. I use the word "might" because we all know how stubborn sellers can be in some instances. Of course, in a couple of months (hopefully no longer) when I see properties with snow, the same holds true. just my 2cents Courtney

House 108k(appraisal) owes 100k 8 mos behind piti 952 options... Buying Subjet to, gettting a TB in making up back payments (wouldn't be much left after option) OR getting the option on the property, and market it as "Take over my payments" and collect a grand for an assignment fee OR Any thing else that someone might suggest House gets sold in 30 days at auciton. Courtney

Fax machines are cheap, but if you can't afford one, try efax.com. You get your faxes in the form of email. It's free! Courtney

My main job, is a speaker. I teach a Get Completely Out of Debt Workshop, where I teach people how to pay off ALL their debts, including their mortgage in 5-7 years. One of the things that I have seen during some foreclosure is that people pay whoever screams the loudest. It's like a crying baby that get's all the attention. I have seen people become late on their mortgage, because all the bank will do is send a letter, but credit cards, on the other hand, will call them day and night. They will send a $500 credit card payment, just to keep the phone from ringing, meanwhile letting their house march closer to foreclosure. If they have a large amount of unsecured debt, I may be able to help them, as well as put a few sheckles in your pocket for a referal. I have helped a couple of people out this way, (didn't obviously get the house) but I got in and talked to them and didn't come off as a greedy investor preying on their equity. One person, did however tell me that when they do decide to sell, (in a year when their daughter graduates) they will give me a call first. I don't know if they will, but that in my opinion is a true win/win situation. BTW, anyone in Florida, I will be teaching my workshop as well as a budgeting workshop in Tampa, on January 24th at the Baywinds Learning Center. Courtney Kostelecky http://www.DebtFreeNews.com "The FREE Newsletter that can save you THOUSANDS!"

A good bird dog is always nice to have. Do you have a specialty. Right now i'ts pheasant season, and am always looking for a good bird dog to flush em'out ! Courtney BTW, you have done the easy part. Finding the person. Now you have to find out if they are motivated, and are willing to do something creative. I find people all the time, but not terribly motivated. When you do find the right person, with the right circumstances, then all is good.

I was making calls about a month ago, and I found a property that was being rented, and the renters moved, and has been vacant for 3 months. She was trying to sell,and I asked her if she would be interested in selling on a lease purchase. She said no. (they own the house free and clear) I said fine, thank you for your time, and let it go at that. I get a call back, and she says she would be interested in a lease purchase deal. I ask her how long she could go before she got all her money. She told me she doesn't really need the money, but the cashflow would be nice, and she said about 3 years at the most. I said fine, and made an appointment to see the place. After she showed me around, she said, well thanks for coming, do you want to buy it? I told her that I would be interested in the 3 year terms on a lease purchase. She then told me that she was not interested in it. She just wanted to sell! AAAARRRGH! How do others handle it? I've heard that some people don't even look at a house (make the offer over the phone, fax them the offer, sign up the property, and THEN do the due dilligence (looking at the property etc) I don't want to spend my time running all over town looking at houses and WASTING MY TIME with unmotivated people. any ideas? Courtney

Just an idea for finding a "flyer guy". Why not contact a group that is looking for an easy fundraiser like a local boy scout troop. Give them a stack of flyers, and tell them that if you deliver these flyers, just put them in peoples door, NOT in the mailbox (It's illegal) and when all the flyers are delivered, you will make a donation of $100 or whatever you decide to their troop. 10 guys each with 100 flyers should be able to have the job done in a couple of hours. Courtney