If you’re circling a property, especially ever-smaller concentric circles but don’t result in putting your knuckles to the wood, you’ll never have any success until you get over the fear of talking to strangers.
My parents even told me, “don’t talk to strangers.” However, talking to strangers is what I do best. It’s also made me a pile of dough, too. Read the rest of this entry »
On Saturday 4/18/09 a group of over 100 probate investor fanatics filled the room at the Sheraton LAX to listen to my “53 Ways and Plays to Probate Profits” talk. I’m grateful for all those that attended and hope that everyone got lots of wonderful, twisted profit ideas.
I learned a lot from this event. I received lots of constructive feedback on my manual, the visuals, etc. and I really appreciate that. We spent time going over probate basics, documents, court system, files, and then got into the good stuff, like no-interest seller financing, etc. Here’s the basic format sections: Read the rest of this entry »
OK, this has nothing to do with foreclosures, but it’s a good illustration of never making assumptions.
Earlier tonight, as I walked outside my home, I could smell the sweet but foul odor that occurs maybe once or twice a year. I try to put it out of my mind but it’s sort of hard to. Read the rest of this entry »
You might as well know that I’ve mostly avoided rental properties. Yes, I have had (and do currently have) a large number of single family homes, however, I’ve tried to justify my fleet of empty houses as “pending disposition.”
While that might be accurate, it’s not the entire truth. Fact is, while I had rental homes going back to the early 1980’s, I found myself a less-than-skillful landlord. Combined with my early reluctance to spend money on them and lack of willingness to turn them over to a professional manager, I ultimately got out of the rental business some twenty years ago. I’ve have a number of investment-grade apartments, as well as some D property units in Long Beach, CA, those were professionally managed and I was mostly passive in the day-to-day activities.
However, I found that I enjoyed the probate money lending and buy-sell business models much more, and mostly stayed away from opportunities to acquire great little rental houses. Read the rest of this entry »
If you received a call from a motivated seller today, who’s willing to sell you “his” property for 50% of market value if you’ll commit today, would you be prepared to make the offer?
What if he tells you that there’s a catch (you were expecting this, right?) and the catch is that the property is in probate because the owner is deceased. Would you know what to ask next?
Would you have any questions about what capacity and powers he has, if any, to sell this house to you?
Is this his decision to make, alone, or will other people need to be consulted?
How would you document this deal? What would the paperwork look like?
How long will it take before you can close escrow and call this deal, “a done deal?”
These are just some of the questions that I want to cover in this blog. I intend to use this site to supplement what I’ll cover in both my home-study course and live seminars, workshops and bootcamps.