Question for Jackie in Dallas - Posted by Sonia(VA)

Posted by Jackie in Dallas on December 15, 1998 at 08:01:07:

I haven’t had much luck with realtors - but maybe you will. It wouldn’t hurt to give it a try for a while, but don’t rely on them exclusively. You need to develop other sources of lead generating.

Remember, it’s the MOTIVATED SELLER you are looking for - not the motivated house. So think of all the reasons that would make a seller motivated - REAL motivated. Write them down. Then use that list and find out where you can get the information on the motivated seller. In almost every instance you will find you can find the answers at the courthouse.

Example: Foreclosure, divorce, death…

Contracts state who pays for what at closing - the buyer pays for some stuff - the seller pays for some stuff - since you are neither in a simple flip, you pay for no closing costs.

If you do a similtaneous closing you will have some closing expenses - but they will come out of your profit - NOT your pocket up front.

Question for Jackie in Dallas - Posted by Sonia(VA)

Posted by Sonia(VA) on December 14, 1998 at 21:51:18:

I have 2 questions that you may be able to answer…

  1. If I am unable to find vacant houses that fit my needs, do you suggest using a realtor, i.e. a buyers broker, to locate vacant,rundown, out of town owners, etc.?

  2. When I have a contract to purchase, I then take this contract to the title company, correct? Who then pays for the title ins. and title search? Is that something I put in my contract that the seller pays for?

Thanks for all your help, in the past, now, and hopefully in the future!