Huh? - Posted by randyOH
Posted by randyOH on September 06, 2002 at 20:53:33:
So the present owner could not sell it for 70k but you will be able to easily sell it for 90k? I don’t get it. I must be missing something. Is the present owner mentally impaired?
scam-schmam - Posted by Kristine-CA
Posted by Kristine-CA on September 08, 2002 at 11:02:12:
Austin: I don’t remember saying that Carleton Sheets was a scam. But from the quality and style of media used to sell it, I can tell that it is most likely long on motivation and short on the kind of details I would like to see in a course. I’m doing fine with my deals. I was just curious about the details about “cash-back-at-closing.” Not profit from a flip or double-close–I understand that just fine and wouldn’t do a deal if wasn’t headed that way. And not refinancing at or right after close. That’s not cash back–that’s borrowing. I was wondering if all these testamonials with people saying they own rentals AND they got cash back at closing was something besides what I just outlined. Seems not.
I’m actually not suspicious of Carelton Sheets or any other guru. It’s a taste issue. It thought the infomercial was sensational and shallow. Just not my idea of where to put my money.
Sincerely, Kristine
whoa!!! Wrong attitude! - Posted by Tray Giddens, Houston
Posted by Tray Giddens, Houston on September 06, 2002 at 22:45:38:
"So the present owner could not sell it for 70k but you will be able to easily sell it for 90k? I don’t get it. I must be missing something. Is the present owner mentally impaired? "
i can’t say whether or not this deal’s math is good, i can say however that i’ve experienced, in all kinds of transactions, curious motivations…
in many cases, somone may own chattle or real property that they are just tired of messing around with…
tired of the maintenance, tired of the taxes ,tired of the insurance, tired of checking up on it. however, they will still sit on something and reluctantly deal with it to maintain it, not quite motivated enough to take the next step to resolve the issue themselves. if some other person comes to them and says “i’ll take that parcel of hassle out of your life.” they might just go for it. all you have to do is keep your eyes and ears open and make an offer… the worst that can happen is they say “no”. big deal, find someone who will say “yes”, there will always be someone out there wanting someone to take a problem off their hands.
Tray Giddens
Houston, TX
www.hudsandvas.com
Re: scam-schmam - Posted by Houserookie
Posted by Houserookie on September 08, 2002 at 11:40:46:
Kristine, what part of his step by step did you not like?
Cash-back-at-closing probably has as many definitions as no money down real estate.
He aims to help people gain control of properties with little or no money down and then walk out with cash at closing. Hey that’s a heck of a deal if you ask me.
One thing to consider is that many gurus and websites ( this one included ) follow Carleton’s approach to marketing.
If you look at source codes on creonline.com you’ll notice that many of the pages reference the name Carleton Sheets.
I dont’ think any guru or website will ever give you all the secrets you need. All they can do is try to motivate you into doing better for yourself.
Austin
Yes, I can get 90K…easily. - Posted by js-Indianapolis
Posted by js-Indianapolis on September 07, 2002 at 24:12:28:
I know this area very well. I also know an appraiser very well. No worries there. Bottom line the seller asked ONE renter if they would buy it. If you need a better idea, here’s a link that will take you to every home listed with the MLS for under 100K in the area. If you don’t want to cut and paste, there’s 7. And four of those are $99,000. I know this area. I can get 90K.
I’ll give you a little more info. The owner lives about 10 minutes away, she’s elderly, but lives with a man who does not have the same last name. THe man mows the lawn, and put a few shingles on the roof a while back.
I’d have to imagine she moved out, and in with him, and planned on renting the house. She did, then wanted to just sell it, and it didn’t. Procrastination, and lack of motivation might be keeping here from putting a sign in the front yard. Maybe she doesn’t have money to spend on fixing it up, and getting a Real Estated agent. The value has been going up, and up, trust me. She’s got a place to live, maybe no mortgage, why not let it sit? It’s not all that hard to imagine.
My angle is to go in and offer her a l/o for 12 months, and then get someone to get into it for $5000 down. She gets $$ each month, for no effort aside from signing papers.
My question, however, is the mechanics of marketing and selling, and double closing, etc. It all sounds simple, till I go to do it. If I sign a standard purchase agreement tomorrow, what do I do first thing on Monday?
OR, does someone see the perfect angle, for me, on this house?