Posted by Dan-Fl on June 26, 2002 at 06:28:57:
It was alot of work,more then I’m use to.I took it on because I had just finished another rehab and had some free time.I would do it again if I had to,but I would want to get paid more for my time Involved,but then again I learned alot tracking her down,so I guess I did get paid after all with knowledge instead of alot of money.
Turned lemon Into lemonade - Posted by Dan-Fl
Posted by Dan-Fl on June 25, 2002 at 17:03:18:
Last week I was having a hard time finding a lady with a life estate,that held up my closing.Well after many hours on the computer and down at the court houses chasing dead leads and even looking at funeral homes and cemeteries,I found her and we close on wed.I found her daughters will recorded some 25 years ago. She left her belongings to her three children.So I put a search in the computer for all states with there names and called everyone of them (over 150).One of them paid off,I talked to her grand daughter.It seems the lady with the life estate re-married,so when she died some 21 years ago,she had her latest husbands last name,not the one on the L.E.That is why no one coud find her,but I never gave up until I did.
Re: Turned lemon Into lemonade - Posted by JoeKaiser
Posted by JoeKaiser on June 26, 2002 at 01:16:31:
Don’t take this the wrong way . . . you did well, however, you didn’t get paid for all your efforts here. Maybe the deal was good enough as it was, but you solved a HUGE problem for the sellers and I’ll bet you didn’t even get a pat on the back for doing so.
Finding the lady with the life estate was a cool thing. Figuring out how that turns your deal into a real steal deal would have been even cooler.
You did all the heavy lifting here . . . i just wish you’d have gotten paid for doing so.
Still, good effort.
Joe Kaiser
Re: Turned lemon Into lemonade - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on June 25, 2002 at 20:25:18:
Dan–(FL)---------
Thanks for the update. I remember your post and made some suggestions for you. I appreciate hearing how it went for you. Congratulations.
From your description, sounds like you did a great job of moving your bargain buy toward the closing table. Have you considered taking your skills into some investment program that involves lots of research of that type? Such as trying to buy “owner unknown” parcels.
Good InvestingRon Starr***
Re: I did Re-Negotiate the contract. - Posted by Dan-Fl
Posted by Dan-Fl on June 26, 2002 at 06:19:02:
I got her to drop $2500 off the price.Thats not alot,I probably could of got more,but the deal was pretty good as it stood. ARV-$66,000-offer was at first $26,000,now $23,500.Plus she was a older lady,very poor and having alot of problems in her life at this time.I felt like if I ask for anymore I would be taking advantage of her.