Well, since the Seller sent me his reply to my original offer and "accepted" it by signing in the right spot for me, wrong spot for him, he has not replied to any of the efforts of his broker he hired to sell the property for him. Tells me he is not really motivated. And, I may want to just move on to the next deal.
Lots happening this week: Partner and I closed on one of our Subject To houses on in North Salem - Repairs there ended up being about $1000 vs. the $4000 we had budgeted for and had bids for. That's ALWAYS a nice surprise. The net on that property, if the seller's cash out in the next year, will be close to $19,000. Tom estimated he has about 9 hours. I have about that as well. That's about a grand an hour. OK, not bad.
I will be going over this deal IN DETAIL at the upcoming event in November. Can't WAIT!
We have two properties we should have under contract here in Salem and about a 30-min drive out of town in a quaint little town called Mt Angel. More to come on that. They replied to our marketing efforts - letters.
Here's some killer advice: REVIEW craigslist.com and see what's for sale in your area. I found SEVERAL properties last night in about a half hour of searching, where I have started dialogs with 3 sellers and 1 seller of a multi-lot subdivision (17 lots) which I am meeting next week.
The economic shift with the mortgage industry/lending problems has begun to shake things up. We've not seen the last and I am sure, there's more fun ahead!
Tomorrow morning, at 9AM PST, I am interviewing Ron LeGrand(R) and Ted Thomass(TM) on a preview Teleseminar. You're welcome to join.
Here's the call-in info:
Phone: (212) 786-7191
Passcode: 3628712#
Time: 9AM PST, NOON EST
Date: August 29th, 2007
Have a killer week and great Labor Day Weekend! Enjoy the summer - it's getting away quickly!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
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