Posted by Alexis Upton-Knittle on September 30, 1999 at 18:18:42:
We have handled deals like this and I recommend that you partner with someone or work closely with someone who has the experience. The process is pretty much the same, just with bigger numbers.
Make sure the numbers work and that you know the area and review/review your comps.
We work in So. CA and Texas–if you want email and I will give you our toll free #.
BIG DEALS!! - Posted by MCF
Posted by MCF on September 30, 1999 at 24:38:36:
I live in So Cal. I see ads for major homes that talk about appraised value @ $750k will sacrafice for 600K. These are Major houses in Major areas and the owners sure sound motivated. Ron Legrand talks about doing these Biggies because there is alot of profit if done right. The numbers themselves make my knees knock!
What kind of experience or real life deals has anyone done on these Biggies? My biggest fear is getting into one and not being able to sell it or Lease Option it and being stuck with it and the payments.
Any suggestions or advice on doing them?
Re: BIG DEALS!! - Posted by Dave B
Posted by Dave B on September 30, 1999 at 19:06:03:
One thing about appraised values, Remember, a house is only worth to you, what you can sell it for today.
Just make sure you can sell it for the appraised value, OR, more than you pay to own and hold it. Just something to think about.
I rarely pay attention to appraisals, especially the good ole “assessed value for taxes”
Good luck! Wish I could do some biggies! grin
Dave B in KC