Posted by JT-IN on September 23, 2003 at 07:13:39:
Michael:
Glad to hear of your (soon to be) success on this deal. Many times it is about “possibility thinking”, imagining what CAN BE DONE, and simply implementing the ground rules…
As you land one of these, it becomes much easier to do the 2nd, easier yet to complete the 3rd, and so on… It is as much about having the skill to spot what will work, and then the confidence to go put it to bed…
Much continued success on this and other deals. Thanks for the feedback, as it is nice to know when someone benefits from info posted here on creonline. Keep the faith…
Posted by MNChicago on September 22, 2003 at 15:17:02:
JT:
You recently posted an example of a deal that required
you to act quickly within a 2-3 day period…it required
all cash and two different mortgages? Sorry, but I did
not save it, and it has dropped off the board.
As are all your posts, it was well-written and to the
point as one of the ways you do your many deals.
Last Wednesday, I got a call from a person whose house
was going to sale on Friday, two days later. The first is
a VA and the 2nd lien was for $46,900.
I worked the phones all afternoon and by next day, got the
second to agree to sell their lien for $5,000, and got the
VA to postpone the sale on Friday for another 45 days to
work out a VA short sale on the first.
I will not know what the first will sell for until they
get the required appraisal and sell at 88% of that, but
at worst, there should be $20k to $30k in the deal.
Thank you for your many posts and inspiration written into
them.
Continued thanks to JP and Terry for this site and all it
does for so many.