megabucks41

You are the man, LMAO. Short sales seem good but you have to do 6-10 so that by the time you get paid from the first one the second pay day is on it's way for the work that you have already done. It takes about 2-6 months down here to get paid and that's to say that we already have both of the properties sold to buyers.

So what is going good now would you say MC, down in our neck of the woods? CA's, lease options, Pure Options? Been doing other things as of late that are time consuming, like short sales. We're waiting on the bank to dish out this one piece of paper and then that's a wrap.

Hi Megabucks, Could you tell us what happend please? Thanks a million! WCG As of now I am still going back and forth with investor that told me they were looking for their buyers. But I have about three that seem to be serious about buying. We're getting the property apppraised so that the two to three serious buyers could send us POF and an NCND. We'll see after that. Thanks for the update Megabucks! Just curious, does another investor have it under contract and you are trying to find a buyer for him for a cut? If that's the case, how long do you have to find a buyer? I have an idea for you. PM me if you're interested! WCG Well, it's a realtor that has these properties on lock. They are not on the MLS, we do the marketing for her, and we have a contract for a 3% commission. Now, short story, she gave me a resort to sell in the Bahamas but I didn't have an address on the property. She will not release any info unless the buyer provides POF and a NCND. She found out that another investor was trying to sell the property from under us and she kinda blamed us for giving out too much info. So, I don't understand how I can sell something without an address, but that's how she does it. My son sold a property for her earlier and we are in the process of getting paid $140K. Just waiting on title company now. Everything else has been done. E-mail me at ernie5662@yahoo.com Tell me what you got up your sleeve.

Hi Megabucks, Could you tell us what happend please? Thanks a million! WCG As of now I am still going back and forth with investor that told me they were looking for their buyers. But I have about three that seem to be serious about buying. We're getting the property apppraised so that the two to three serious buyers could send us POF and an NCND. We'll see after that.

I am posting this topic to inspire others that in this field everything works and doing nothing doesn't. My son is working with someone who keeps feeding him deals. One of the deals that he was given to sell was a few homes. I believe it was either a group of homes or a building that he was selling at $0.20 cents on the dollar. Anyway, I didn't think that he could pull this off because you need to know a few good investors. To make a long story short, he found someone that wanted the property. How he did it I don't know, but he did. The guy signed a NCND and a POF DOC and it was two days ago they signed the last of the paper work. He is looking to make $140,000. All of this was done over the phone and internet. Now last I heard we were to receive our check in six days. Well I should say "his check", but I am his Dad and I did over see all the docs. . . right? Can't wait. Now here is the good part. I ask him to throw his father a bone. You know, a deal of some kind. And he tells me to go and sell this mansion in CA. Now I am thinking to myself, "Yea right, how am I going to move this with the market the way it is?" The property is worth $34 million and it is being sold for $21 million. I am making 3% for marketing on this deal. I don't know where to go, so I said well let's try Craig's List, and I posted all over CA and in New York and a few other northern states. Would you believe I had 8 solid hits. The 9th one came tonight telling me to call him tomorrow because he and his investor can close in cash. All I can say after this is I will let you know later on today what happened. You can believe I am scared to death of this deal, but I will proceed no matter what. 3% of $21 million is about $700K. Wow!! We'll see. I'll keep you posted.

I have a 3Bd/2Ba in Atlanta in great shape, seller is heading to foreclosure and he is trying to sell the place before it happens. Property worth about $215,000 he is selling for $162,000 doing a L/O with $5,000 down. If you want to buy and hold there is good cash flow and I would offer $140,000. let me know who is in need of this deal

I agree with rex, Hey MC, this market is great more home owners are willing to do CA's and L/O. And short sales is the next big thing I guess it takes a while but darn it man the checks are great, and even better when the buyer is right there waiting to buy your home. And you could go L/O or just sell. And it has been said in just about all books and tapes, I got that you must build a team you know (legal, agents, title comp. etc.etc. ) Well, I guess the market is so bad now I have agents calling me to see what it is that I am doing to make money in this market. I have three, mortgage brokes, one hard money lender, one agent, and a lossmigiation persons that hands me deals for $5,000 a pop off the propfit. So far I have had two short sales, one for $30k and the other for $45K with a month an half apart of each other not bad right. So does this market suck, only if you don't know how to change with the flow of things and education. Must have the know how. Be well all.

I am not a pro but, I would say that it depends on your market and how fast properties are being sold.

I was offered a small 14 unit complex near by at around $800K of course I must do my due first, by they way I wanted to buy this place with a 5 year lease with option to buy and then as an insentive to the owner I would refi and do a split equity. Now that's five years of rent's going up plus deposits I know the area and most people stay for a while and with the way in the housing market is today these renters ain't going nowhere and the rent are a bit low for todays market by about $50 to $75 per unit. So I want to know the best contract to use and How do I or where do I write in that equity split at the end of the five. Learn how to do short sales and Whole sales with other investors so I have not had time for CA's but I will get back the market seems to be geting better for CA's. Sellers are willing to listen. Thanks for the help

I am in need of some help with running comps on land is there such a thing. The land is in CA near the napa valley area. Trying to help someone out of a jam but I need to run my numbers.

ok well the house comps @ 1 mil.$ and agent could not sell @ 750k ??? gr8 agent but your son... also a agent gets @ 550K buys it and sells in 1 day @ 650K is that the correct scenario?? and it "ON THE BEACH " and /or near a golf course ?? No Agent in the picture. FSBO, and bought with MC's Pure Option Agreement and an assignment. This is an attorney who is partners with a mortgage broker. He wants the house as bad as the seller wants to get rid of it. This is just some of the stuff we've got going on. I am about to fire my boss soon if this keeps up. I say about near the holidays I'll make my move. Well, that's the goal. I'll keep the board posted.

A friend of my son gave us a deal on Miami bch, it's a 4Bd/3Ba near a golf course lady has been trying to sell for about 10 months with no luck her start price was $899K then she gave to an agent she tried to sell it for $750K some how my son talked this lady into selling him the place at $550 if he could move it fast. Mean while I went to a meeting with a few mortgage broker that want to gives us preforeclosure deals and split the profits 50/50 and can give me 5 to 9 deals a week. So in the mix of conversation my son mentions the property on the beach and one of the men jumped up and said to us that he would buy it today even if it took till midnight tonight to lock up this deal See we had already checked the comps out and the home is worth about $1,050,000. on the hight end and the low end being about $990,000. They must have seen the samething when they wanted to lock it up so fast. So after it's all said and done we're looking at closing around $650,000 that's $100K in our pocket not bad for a few hours of BS and some paperwork. Not to mention the foreclosure deals that I am getting. Going to work seems to be getting harder and harder!

Thank you much good budy, been doing some great thing in this feild of R. E. will let you know soon after I am finishtesting it out.

How about: after helping a friend with a rent -2- own deal I found myself with more buyers then I have properties, so I thought perhaps you would consider a rent - 2 - own deal? After all I do have buyers waiting.

On our site we offer a free classified section that they can post and ad and for posting the ad I send them a certificate to a free get away vacation for three days two nights in a resort of their choice anywhere in the United States. So far it been going slow but that due to lack of marketing on our part.

Not a chance! These Commandos are all retirees who have too much time and nothing to do with it. Passing arcance rules and restrictions, and making those around them miserable is an enjoyable hobby for most. Key word: yet. It will. As expected, they are fussy and demanding. Can't say I blame 'em, what with a new headline every three weeks here shouting out how the sky is falling. This market is a killer, deals are out there but Like MC said T/B are just as scared and they don't want to take a chance. We have two properties that we've been trying to sell and not a bite yet. We put out bandit signs Sat. and to this day only have two calls to show for it. I have even offer to pay all closing cost and nothing. both properties are vacant and in move in condition. Placed some ads on the Flyer mag for three weeks and got only 6 calls. Man a year ago at least I would get more calls, I have one more trick up my sleave hope it works, will see. Mean while I'm head back to Amway.

I think that since he was rubbing elbows with some of the investors they used to impressed the new group of studentds and they showed him how much they were making with these folks that must of over taken him. None the less he has set his mind on doing business with these people, So I told him to do what he felt he must do, as for me I was sticking with the group that go me started investing period. I am in the process of wating for this property to be sold to send Adam and MC a check and get atarted with them.

I must agree with Rich on that one I feel the same way. My son while making calls, has been approched by a group of investors, telling him that they will teach him everything he needs to know about real estate investing and will walk him through all the process for each method of investing there is, Like selling and buying property in other cities and markets . He must fly to Arozina and study in the Nouveau Riche University for a week at a cost of $18K but instead of paying for it in cash all he has to do is find two people that want to learn like he does and this will pay off the cost of school. And of course at this seminar they just happen to have two 20 year olds that are making $80K and yet has not finished with their study. I know my son loves the idea of the amount of money everyone like Adam, MC, ReX are making and he wants real estate to make him a millionare asap but you have to walk before you could run. And I tell him that these people just didn't start they have paid some kind of price to be where they are at right now. And he still thinks I am not supporting him with this group of investors. I told him that MC, and Adam have the same type of program going on and I am about to take advatage of this but Adam and MC don't qualify because He belives their not millionares and I tell him maybe yes maybe not but one thing for sure their free with out a boss over their a_ _ and for me that means being rich. So our fight continues. Any one ever heard of NOUVEAU RICHE UNIVERSITY and what they are selling.

what you didn't know was that all of you were being watched by 20/20 while you were clicking to the site, and now we will see who's, who in the up coming show called freakes in Ft. Lauderdale and other parts of the country

One thing is for sure: sellers are in need of our help really bad. We went to see 2 properties on Saturday. One is a P/O. After running comps this property is selling for $113K below market and has been this way for 9 months and real estate agent still can't sell it. Property is in great shape and in move condition. The owner called me from my website and asked for my help. This was the second time this happened to me and I find it hard to believe that I am being called for help! It just blows my mind. Anyhow, after driving by the neighborhood we found out that there were only three houses for sale. So I guess most people like the area where they live. I am trying to get the property for $340K to $360K. Well see what happens. Next we go to see this property for a CA but the guy can't remember his address when we spoke on the phone. So I was not able to run comps but since the house was close by to the first property I figured I'd give it a shot. Normally I won't go to see a place until I ran comps. I call the guy up for the address on the day that we are suppose to meet and he gives me directions on how to get there. By the time that we got to the development and drove around trying to find the place, I saw the neighborhood and told my son this is not our type of place to do business. The area was like an upper class ghetto and all the properties were built like little barn homes, mostly made of wood. I was going crazy trying to find the place following his directions, when I call the guy and told him "Look, I've seen the neighborhood and it's not something that I could work with", and I asked him how much he was asking for this place. He wouldn't say, but tells me just come and see the place. I told him it doesn't matter and that I just can't work in this neighborhood. He explains with this desperate sound in his voice that I haven't seen the place yet, and there are two different sections of this complex and am in the wrong one. I said that's ok all the same and walked away. I am not sure if I walked away from a great deal or not but I can't sell something I don't believe in. I felt bad that I couldn't help but at the same time I couldn't believe I was walking away from a deal a few months ago I wanted to get my first deal done so bad I would have taken this deal in a heart beat. I guess I could see the growth, maybe not .

Wow! I have a friend that purchased a property in Jacksonville for $225K pre-construction prices. After owning the property for two years she wanted to sell the place for $275K. After 5 months of trying to sell she dropped the price again to $230K, only to find out that the builder has 11 units left and is starting to sell them at $185K. Now they can't compete with that so she is stuck. Can a builder sell for less then what his pre-construction price was? I don't see doing a CA or pure option because the builder is selling at such a low price. I think perhaps maybe owner financing with a small down payment. What could she do?

LOL Yeah, that's funny. Well, if you're in get yourself set up on the other site ASAP. This has been a lot of effort on our part, but everyone has been saying they have never seen support and material like this. And I know it's true because there's some familiar lady and a couple of kids at our house that demand they're mine! But seriously. This is the most comprehensive information and support we have ever given to anyone and now we have MC joining in! And yes, there are a ton of other gurus, investors and lurkers around the country from NY to CA, from MI to FL that are all watching us and cannot believe we're putting this much effort into it! So jump on now before we reach our limit! I don't know if this is going to come around again! Regards, Adam PS: Here's one of the websites blogging the challenge: www.dealfiles.com/blog Adam and MC you guys have done it again, Great stuff, You will be getting my order in the next few days. Just when I was getting comfortable with the CA's and P/O's you guys manage to put more stuff to learn darn it man back to the paralysis of analysis LOL NOT working on some deals now as we speak so as soon as I get my paper you'll get the order. And thanks for being the learders of selling real infromative materials. Not like a lot of guru's selling Hope.

Wow! I wish that I could sit and tell all that the script we use lands us at least 10 deals per month but it doesn't, at least not yet. And with the market the way it is it's still a challenge putting together the right deal. Now, we make about 10 to 15 calls a night from old newspapers to FSBO's. The second that we introduce ourselves most sellers ask us if we are Realtors. This happens 9 out of 10 times. We simply reply, "No, but we have buyers waiting to buy homes and our problem is that we always seem to have more buyers then we do properties to offer them". After that we have yet to hear a seller ask me if I am a Realtor or an investor or anything else. The reason I think is because a seller couldn't care less who we are. They want to know what we could offer them. So the faster you get to their benefits the better your chances are of them hearing you out. I don't want to do SLO's, at least for right now. But we have learned that we have three methods of doing business which is CA, P/O and wholesale assignment. So we are now pretty much unlimted as to the money we can make. Last year we were just doing CA's. This year we are trying the other strategies to see what happens. We have about 6 properties to see this weekend and they are looking very good. I just don't like to post a deal just for the sake of posting something. Once I start a deal and it's finished then I will post it, unless I find myself in trouble, then I'll ask for help on the board. So as soon as something happens I will post. Good luck with the script.

Hey adam if you are the author of some of the materials you will be selling at the workshop and we can't attend, how about putting up your material for sale on the everything fourm, I would like to read what you got to offer

Hey rex sounds like you had one majtio to many, Slow down some.