Posted by Aaron-TX on December 19, 2002 at 15:04:03:
Passed it on to another investor.
Long distance Sub-2…hard? - Posted by Aaron-TX
Posted by Aaron-TX on December 18, 2002 at 15:00:56:
Got a call from a woman in Dallas who wants out of her house. Husband’s getting laid off and their house has been listed with a realtor for months and has not sold. After talking with her a while and getting an idea about the house (a 1500sqft 3/2.5/2) I told her I’d get back to her in an hour or so to “check with my partner”
I live in Austin and haven’t a real clue on how to do a long distance sub-2 without me driving up there every night for the next few days.
I agree with Marc - Posted by Nate(DC)
Posted by Nate(DC) on December 18, 2002 at 16:56:52:
Doing the docs long distance is easy - fax, FedEx. I did a subject-to a couple years ago where the sellers were in Florida. We did everything by FedEx.
However, the difference there was that I, and the house, were both here in the DC area. I would not recommend doing this deal, but not because you are in a different place from the sellers - rather, because you are in a different place from the house.
Look at it this way - if this particular opportunity weren’t here, would you have any interest in owning real estate in Dallas? If the answer is no, then it should be no here too.
NT
Re: Long distance Sub-2…hard? - Posted by Marc
Posted by Marc on December 18, 2002 at 16:06:35:
If you can do all of the comps via the internet, and feel like the numbers work, you know all of the parties that are on the deed, and that you’ve verified that the payoff and payments are what they’ve told you they are, then write up the offer, Overnight/FedEx, etc the docs to them, have them get it notarized and send it back.
Your real problem may be selling/landlording the property once you own it.
Marc
Yeah…I passed it on. - Posted by Aaron-TX
Posted by Aaron-TX on December 18, 2002 at 19:24:06:
Oh well. 
It’s not like I’m not busy these days as it is with local stuff.
Re: Yeah…I passed it on. - Posted by Percy
Posted by Percy on December 19, 2002 at 15:03:11:
Did you pass the lead on to anyone else in Dallas? If not send me an e-mail with details.