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Jonathan RexfordFL

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Jonathan RexfordFL last won the day on June 6 2016

Jonathan RexfordFL had the most liked content!

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About Jonathan RexfordFL

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    Builder, Buyer, Seller, Auctioneer
  • Birthday 06/30/1967

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  1. Doing well MC. Your site looks really good. Glad you still have it. Facebook is just NUTS.
  2. WOW MC, I love the look of the site. I need to visit more often. I hope all is well with you?
  3. Here is what I was meaning paying retail. ARV 430K Repair $30K balance $325K Total invested $355K. Sell for $430-355= 75K...profit? NOT AT ALL. Cost of sale is going to be 12% at a minimum. $378K net. What about any potential legal issues? So at best if everything goes right. You will walk away with 23K. You can work at the cost of sale. But lets say you cut that in half and you are able to bring another 24K to the table and cost of sale is 6%. Then that is your risk. But I do not see a deal here. Remember retail is subjective. We have a magical cost that is called Cost of sale that buyers forget, but sellers realize.
  4. uh....RUN. No deal here at all. 1st and formost is that the owner of the current home has stated they cannot pay the mortgage. They will ONLY sell the house to you if you lease it back to them for two years. What happens in 2 years? You will be in front of a judge trying to explain this. How this family got scammed by a mortgage broker (even though they signed the note) and now you coming in wearing your cape to save the day. You buy the home. I am assuming a short sale since they owe more than it is worth. You buy the home as a short sale and the lender will ask you and the seller to sign an agreement that there are no side agreements. But you say....ah it is ok. Then you go through the deal. You go down to the local loan shop and sign personally for this property that you are buying about 13% below value. Now keep in mind it needs work. So in essense from what I am reading you are paying retail. You may get some cash flow from this deal. But 24 months come down the pike and you file eviction notice. They flip over there yellow page phone book and call there friend on the back page. They now file a counter suit claiming how you defrauded them and took advantage of there situation. Eviction gets post pone. 18 months later you are sitting in a lawyers office and they are taking your deposition. In the mean time. You have been making the payments on your house to your lender. You reach a settlement because your attorney has stated that it will go to circuit court and it will take another 6 months and advises you to give them 10K to settle or pay the attorney 10K to fight it. You look at your bank account and then decide that it would be cheaper to pay them to leave. (Deciding point here). They move out and you find the repairs are now at 65K. Since you signed personally for this house it is something that you cannot walk on or BK the LLC of some sort. You are stuck. My advice. Don't do it. Never lease back a home to someone. it is trouble. Rant over and Hello Naked People.
  5. Oh Crud, I guess it did not upload. Sorry about that. Here it is
  6. Well here is one that has been pulling good for me lately.
  7. On most MLS systems you can export data directly from there. More than likely it will be a text file that can be imported to an excel spread sheet. I have not found one that would import directly of the tax address. Because some of these are absentee owners.
  8. Do group showings. Arrange the showings once or twice per week. Pick morning hours after school drop off and evening hours. if someone presses you for time to do a private showing. Set a time to meet and have them call you when they are there. I have found out if they want the house they will wait 15 minutes for you to get there. Otherwise it saves you 2hrs. If you have not done so. do a virtual showing. Use video and lots of pictures. Also if you had done your job right you will have met the neighbors. They are good to do fast showings. Keep applications at the house.
  9. Got a Problem House We can Help XXX-XXX-XXXX
  10. Good grief.....bashing realtors again? j/k
  11. Dee, I do not use MC's agreements. But I would if that is all I had.
  12. Two approaches. One would be a long term lease option. Such as loan balance and term and the other is a short sale. 35K is a mute point depending on the value of the home. If it is 350K I would do a long term lease option assignment tomorrow. But if it is 100K then it is a short sale.
  13. Answer the sign calls yourself. No one knows the deal better than you do. Or give someone the power to make the decision for you
  14. Tony33, I do not knowing marketing to listing properties. When I do my mailing, I do not take my 2K plus mailings and scrub them against MLS. I just mail them and put a disclaimer at the bottom of the card. That states this! Jonathan Rexford is a licensed real estate agent with Beneduce Realty. If your property is currently listed with a real estate agency, please disregard this post card or you can keep it for future reference or give it to your Realtor. Now, I am upfront with it. If they throw it away...so be it. If they keep it and call me later....COOL! if they give it to there agent and they call me and we do a deal BETTER THAN COOL! Either way I am disclosing it up front. Also I do not just do mailings for the specific purpose to do LO's LO's are just a tool in the tool box!
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