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frmtgrl

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About frmtgrl

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  • Birthday 12/16/1968

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  1. Hi, It's been a long time since I have checked in on the board and lo an behold you're all still here! Okay, so to explain my absence over the last few years....it all started when I had twin boys! There went what little time I had to do my creative real estate on the side! Now they are 2 years old and I am finding just an inkling of free time here and there. On top of that the ole' man has been out of work since January and my company has decided to cut back on all of our pay by 5% for now....maybe 10% in the next couple of months. So I need to get it in gear and break out Michael's manual for a quick refresher course. I have only done one Co-op LO in the past and that worked out quite nicely with a $10K check for me! Now the market is so different and I'm hoping easier. Any tips for the type of market we're in now? Any new things for me to know? I live in CA, in the SF Bay Area. We've seen quite a drop in our home values and foreclosures and short sales are everywhere. Thanks for any advice in advance. Lisa
  2. Okay, next time I'll try and remember to sign in before I post!
  3. Hi All, Sorry, I haven't posted in a very long time. I am about to complete my first deal! It's a two year CA, on a two story 3bd/2 1/2 bth house, purchase price of $790,000, $1,000/mth rent credit. $10,000 option consideration to me! The tenant buyers and owners will be signing on Sunday. Just a little glitch. The owner's were supposed to perform some repair work in the house before the tenants move in July 1. It looks like they won't be able to do that but are willing to pay for the repairs upon their approval if the tenant buyers get someone to come in and do it. Should I just write up an addendum to the contract for this and if so, give me some pointers on the verbage to use. Thanks in advance! Lisa
  4. Hi Everyone, I remember reading a thread on here regarding what people use as their 10 second introduction but can't seem to find it in the search. I must not be using the right keyword. Anyone know where it is? Thanks, Lisa
  5. Hi Lydia, Try http://www.ofheo.gov/HPIMSA.asp Lisa
  6. I received the following email from a person who had his house FRBO on Craigslist. I asked him if he ever thought of selling his house on a lease purchase and this was his response: "Please tell me more about the details. However, why should I go through you? Fannie Mae and Fredie Mac have this kind of programs as well. What are my obligations and shortfalls?" Is anyone familiar with these programs that are offered? I'm sure they still would NET more with doing it through me. But I am not up on the details. Thanks for the help in advance, Lisa
  7. Thanks for the advice everyone. I'll put something together and send it to the owner. He said another house in the area was just listed for $749,000. If nothing else, I'll learn from the experience! Lisa
  8. Hi All, My name is Lisa, I'm new and trying to put together an offer to a seller for a possible first deal. Let me tell you what I've done up to this point. I found this person from a FRBO ad off of Craigslist. The rental market in this area is very bad. Apartments are dropping rents to fill them up and basically people trying to rent out their houses are screwed! This person used to rent his house for $2,500/mth, he is now willing to go as low as $1,850/mth just to get a warm body in there. I haven't seen the house but it is in an area where the houses are going for $700,000 - $800,000. This is not a luxury home, it was built in the early 1950's. The FMV is high because this is Silicon Valley, CA It's a 3bed/1bth <1000 sq ft. 5900 sq ft lot He is interested in the L/O idea and I told him I would get back to him with some more concrete numbers after running comps. He is asking $850,000 for his house. Appreciation in the area has averaged 11% in the last 9mths. I'm not sure that I would even want to have to find a tenant buyer for this amount What should I do? I don't want to just leave him hanging but I think this is just to big for my first deal. Any advice would be appreciated. Lisa I think I'll go look at ads for ity-bity condos, they're only $400,000 ~ $500,000
  9. You go girl! I'm definitely going to have to chat with you! Lisa
  10. frmtgrl

    Happy B-day

    Now that's what I'm talkin about! Thank you girlfriend. I've always admired Mr. Lamas. :xwink: Don't forget to give me a ringy dingy whenever you're in my part of town so we can hook up! Happy Shopping
  11. frmtgrl

    Happy B-day

    Well, I don't know what to say...thank you...what a nice crowd! Yes, did you have to put the 36 in such big font? :xsad: I'm still trying to recover. This is my first post. Hi all I'm Lisa, I'm a newbie. I met with MC last weekend and am just about to get started in this wacky world of lease purchasing. I've been reading the forums for some time now and have picked up a lot of useful tips. Thanks again everyone! I'll post soon!
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