Barry

Speedy recovery to ya!

Kurt, Great job! Pete,...there is one thing I'm sure of about the way you set up your deals... you never leave any money sitting on the table Barry

Pete, You are killing it dude!!!!!!! Way to go!

HHHmmmmmmmmmmm..........I'd be wondering by now.

Barry (Referral Wealth) I know what you mean about Va Beach surf. Even though I spent most of my adult life in Virginia Beach, I was born and spent my first 17 years growing up and surfing in Puerto Rico. I've surfed quite a bit in California. I enjoy Encinitas, Del mar (15th street) Cardiff and Solana Beach. My west coast surfing has also taken me to Mexico at Baja Malibu down to Ensenada and shipwrecks. I've surfed both coasts of Australia and lived in Costa Rica for one month each winter for 5 years. I keep a surfboard in Hawaii and one in Tortola. I rarely surf in Virginia Beach now. You may have visited my website already. Its Sellthehousefast.com I have a feeling I'll meet you sometime in the future. I pass through VB for a couple of days about every 3 months. keep in touch, Barry

Hey Referral_wealth, Noticed your post and had to reply for a couple of reasons. Noticed your name is Barry (mine too) but saw this: Although I live in Maryland now, I am from Virginia Beach. I started my investing carrier in Virginia Beach and hold rental property there now. The Seller Market environment you describe exist here in Maryland as well. Although this type of market definitely produces challenges for creative investors, there are deals to be found. In the last eight months I had 3 sellers deed me their homes. I also had one agree to a short sale (which the lender accepted). I'm not personally experienced with lease option acquisitions, but feel they will fall into a similar pattern as sub-to deals where A highly motivated seller is the key to landing any deal. Most of my motivated sellers find me through my website. I often reflect on my Virginia Beach roots as an investor. I really miss the RE environment there. Feel free to email me and let me know how you're doing. Best wishes for your success, Barry

Buying the Manual will probably be the best value for any RE investing information you'll ever get. Take it from someone who knows and has spent a whole lot more on other materials. The information you'll get is practical, comprehensive and ready to use.

Way to go option8 !!!!! You're getting your cookie cutter system in place! No doubt in my mind you're headed for big success. Keep up the great work and keep in touch! Regards, Barry http://www.sellthehousefast.com Nothing in the world can take the place of persistence. Talent will not. Genius will not. Education will not. Persistence and determination are omnipotent. — President Calvin Coolidge (1872-1933).

Well, I don't know what a shill is (I'll have to look it up).....and I haven't had any surf accidents lately to cause impaired judgement.... However, I have just returned from a week long vacation in the caribbean that was made possible from the fruits of my last RE acquisition and sale. ...............maybe I got too much sun?????...

Congrats Kurt! There is little I find more rewarding than having a deal come together from putting some acquired knowledge to good use. I agree with you about Michael's course and also his wisdom pertaining to the L/O method of investing. He is second to no one in my book when it comes to sharing practical applications of this niche of RE investing. I honestly believe this is the best place for someone to get their RE career off the ground with minimum risk and expense (especially using CA's). Thanks again for your willingness to share information MC. Regards, Barry It's not the critic who counts. It's not the man who points out how the strong man stumbles, or where the doer of the deed could have done it better. The credit belongs to the man in the arena, whose face is marred by dust and sweat and blood, who spends himself in a worthy cause, who strives valiantly, who errs and comes up short again and again, who at best knows the high achievement of triumph, who at worst, fails while daring greatly for he knows his place shall never be with those cold and timid souls who know neither victory no defeat. --Theodore Roosevelt

Anyone tried these types of services? foreclosure info

Pete, Way to go! I've got a couple of questions about your financing.. How much do you pay in closing cost for your interest only loan? Is there any kind of balloon payment due on them after a certain time frame? Keep up the great work. Barry

There probably is a place for realtors to get involved somewhere in creative deals........let me think of an example......hmmmmm ....well...........let's see....................uuuhhhh.................just a second............let me think........................................................................... ................ ....................................................................hmmmmmmmmmmm ... ................................................................................ ........................ ................................................................................ ........................ ................................................................................ ........................ ................................................................................ ........................ ......................hhhhmmmmmmm............................................... ......... ................................................................................ ......................... ................................................................................ ...................... ..well...not there........................................................................... ...... ................................................................................ ........................ ................................................................................ ...................... ................................................................................ ....................... ............oh well...............I'll post it when I figure out where it is!!!!!!!!!

Realtors seem very limited in their approach to solving property challenges..

Wow! Some really great post are showing up on this thread. I think it's great to keep an open mind about approaches to RE investing strategies. Circumstances will dictate whether a particular solution is the right one for a given scenario. Ideally, acquiring properties at a good discount is the way to go. Not only does it insure profits but it minimizes risk. If a property is acquired at 65% of the market value, and everything goes wrong with the deal, you can always recover by selling (even short) to recoup your investment. I also know that even in seller's markets, deals are found. The bottom line is motivated sellers are a product of personal circumstances (divorce,relocation,job loss etc) despite 'the market'. I guess my point is, that there are some exciting alternatives and variations to some of the more talked about acquisition strategies, and great ways to use them. Some will be better suited for investors who are in a position to absorb a loss if they run across a bad apple. I try not to lose sight of the fact that making money when you 'buy' is the ideal way to invest.....but I keep my tool kit open for when I can 'slay a dragon' some other way! Thanks for sharing the great ideas! Regards, Barry Sellthehousefast.com

Doug, You're right about eliminating cash outlay if you team up with a money-partner. If you had a few strong financial partners, you could do these deals all day long. At $300.00 a month positive cash flow, 10 of these houses would yield a good monthly income. Keep me posted on your success. I sold 3 rehabbed properties in the last 2 months (they were houses I acquired subject-to existing financing and a short-sale). I've got a clean slate now and it's time to hunt down a few new deals. Maybe I'll take a look at doing one of these! Regards, Barry p.s...I'm not really a hatchling.......

Doug, I learned from my realtor that a mother and son team here in Maryland had purchased 10 properties in one year with a similar strategy. My realtor was used to help the tenant buyers find properties they were interested in. The mother and son investor team had marketed for the tenant buyers first, and arranged to help them get into a property. They actually collected the option money and executed an agreement with the T/Ber's (contingent on the investor's successful acquisition of the property), and used the option consideration towards their downpayment on the property. The rest of the deal is a no brainer....the property is L/Optioned to the prequalified Tenant buyer. I guess the difference in doing deals this way is there can be some outlay of funds to get into the property (although relatively small) for the investor. One 'benefit' of this strategy is that in a hot seller's market, it affords an opportunity to find some properties with minimal effort. Calling FSBO's is a waste of time around here. (Nice houses draw 5 contracts the first day they hit the market!) You can even use a realtor and take advantage of the MLS to find investment properties using the strategy you describe. Although really steep discounts in purchase prices may not be easy to obtain, there is potential for backend profits in these markets due to extreme rapid appreciation. I've never seen values skyrocket like they are in Maryland! Another difference in using this approach is that you are in total control of the property (ownership) and don't have to worry about a flaky seller changing his mind about selling and compromising your position in the middle of a sandwich L/O. Anyway, thank you for the great post and good luck with your investing! Remember, the harder you work the luckier you get! Regards, Barry SellTheHouseFast.com

Adam, I know you weren't awake when you posted your reply The option itself gives you the right to "sell". It's actually giving you the right to "buy" acting as a principle, and with that comes the right to assign your interest. (As long as it is not otherwise stated in your option agreement). Any agreement is by default "assignable", if 'assignability' is not addressed in writing on the agreement. Regards, Barry www.sellthehousefast.com

Verb, The customer service rep is not the person who can make these type of decisions regarding the loan. From my experience the loan has to move from the collections department into the loss mitigation department before your request will be considered. The customer service reps in the collections dept are more concerned with "when is the next payment going to be made?". Once the loan has moved into the loss mitigation department you will be dealing with individuals who are equipped to make these type of decisions and do so so all the time. They will assess your case and determine if your homeowner is a candidate for a forbearance agreement, loan modification, shortsale etc. Otherwise, you may as well be 'talking chinese' to most of the other customer service reps. Hope this helps. Barry Harbor Property Solutions L.L.C. www.sellthehousefast.com

I'm with Michael on his reply.... Deals that start out on a bad note usually continue to go 'south'. I won't even contemplate pursuing a deal where the seller doesn't beg me to take the property . Wishy- washy sellers are trouble waiting to happen. You'll know the motivated ones when you find them. Attorneys usually practice what they know (and what makes them money), and will often recommend filing for Bankruptcy (from 13 to 7) to delay any foreclosure. You can be sure the attorney won't recommend they give up the house to you. Learn from the experience, and go find yourself another deal! Happy investing! Barry

Ask him if you can take him to lunch. Let him know you're interested in learning about how he achieved his success in Real Estate. The worst that can happen is he says 'no'. Imagine what you might learn if he is open. I think a great start might be to ask something like: "Knowing what you know now about real estate, if you were to start all over today investing in real estate, what would you do differently and why?" Happy Investing, Barry