Sources of ugly houses - Posted by Roger Williams

Posted by SueC on September 25, 2001 at 14:53:22:

Hello Dee, how are you?

The calls I get from this ad I havebeen flipping to other investors. I found 2-3 guys who will buy pretty much whatever I can find. I stopped running the ad for August intending to start again in Sept., but family issues got in the way and now I will be running it again in October. Several properties I did not take title to but simply passed the leads along to investors more familiar with the particular area, for a referral fee. Now that my husband is coming into the game, he will be able to go and do more of the legwork so that we can get these under contract and command more of a flip fee.

I would estimate that about 20% of these turned into “something” as opposed to the seller who was overencumbered, not motivated, etc. I also was getting calls from sellers with “pretty” houses too, my ad appeared at the top of the We Buy Houses column and I guess they were just calling down the list.

October is our month to begin again in earnest. So, I will keep you posted!


Sources of ugly houses - Posted by Roger Williams

Posted by Roger Williams on September 24, 2001 at 22:22:45:

What are some of the ways to find ugly houses. I have an R/E agent looking for me and I am out looking for myself. I have written 5 offers through my agent and have sent out 4 letters to owners of ugly, vacant houses. I just want to make sure that I am not missing other sources of these houses. I know that I will have to write many offers to get a few accepted. I am looking for a way to get more houses in the pipeline. Any suggestions would be appreciated.

Re: Sources of ugly houses - Posted by SCook85

Posted by SCook85 on September 27, 2001 at 17:32:12:


I think you got great advice from Doug and Sue. I primarily use realtors and get about 90% of my deals through them, so I’m not that creative. But the ones that I don’t get through realtors usually come from other investors who have found homes and they want to flip them to me, or get a finders fee. So I would suggest letting everyone know, via cards, signs, ads etc… that you buy ugly homes.


Re: Sources of ugly houses - Posted by SueC

Posted by SueC on September 25, 2001 at 11:04:24:

I ran an ad. “CASH FOR UGLY HOUSES. Junkers, Fire, Vacant, Damaged, Trashed. XXX-XXX-XXXX”. I got about 2 calls per day in my general vicinity.

Re: Sources of ugly houses - Posted by Doug (ON)

Posted by Doug (ON) on September 25, 2001 at 08:28:12:

How about going to the courthouse and locating properties which have city code violations.


Re: Sources of ugly houses - Posted by Dee-Texas

Posted by Dee-Texas on September 25, 2001 at 13:38:50:

Hi Sue,
How is the biz going. I always enjoying reading your posts. Did you buy any junkers and if so what percentage did you give them of their asking price?
I’ve been getting calls from FSBO’s that have junker properties…the only problem is they don’t think there properties are junkers. S They price them at FMV, haven’t bought one yet.
Great Success to you,