Washington DC Area - Posted by Stan

Real Estate Investing Real Estate Gurus
#1

Posted by Bobby on November 06, 2000 at 12:05:14:

Hi,

As of late, we are not finding motivated sellers, no responses from our newspaper ad, “We buy Houses”. It appears nobody gets divorces, foreclosed on, job transfers, nor get layed off from work…I must live in OZ…all kinding aside…it is hard to find motivated sellers…in the newpsper, I have seen the term, “Motivated seller” but they are not really motivated as it is a trick to have you call them.

How do you attract motivated sellers? You are in a tough area for investors.

It’s to bad that motivated seller, that wanted to sell their property couldn’t place an ad on this site, not that would be a great idea, if everyone getting a divorce, losing a job, or in pre-foreclosure would place their ad on Creonline.

Take care,

Bobby

#2

Washington DC Area - Posted by Stan

Posted by Stan on October 30, 2000 at 13:23:22:

I have been watching this board for a while and have always thought the question of “Does this system work in my neck of the woods?”. I bought the course - a little overwhelming with all of the information that CS provides. However, my impression is that the real estate that is addressed (bread and butter properties) are in the 30k-70k range or so.

Now in my area, the Washington DC area, I am noticing that most of the single family residences (the ones that I would consider bread & butter) are running in the 150-225k range. Is this a hindrance with this system. I realize that I will probably figure it out eventually, but I figured I would ask. I want to buy no $$$ down - and I intend to.

Also, where do you all find those newspaper ads that feature the ‘motivated’ sellers. I was looking in the Washington Post yesterday. I am finding most of the ads by RE Agents and very few by personal sellers. And of those, none were desperate (or so it appeared). Could it be because this a relatively affluent area and people aren’t desperate ? I really doubt ? but that?s the way it appeared.

Anyway, any insight would be appreciated.

Thanks

#3

Tango… - Posted by L.A.

Posted by L.A. on November 08, 2000 at 06:28:07:

It does work here & there are lower priced properties here.

U just have to know how to tango.

Here…meaning Washington, D.C. & the metro area.
And don’t forget…the government has included Baltimore, Md. in our metro area !

First thing is that U may be looking in the wrong areas & reading the wrong part of the paper.

I have a website that features some of what can be found…including properties for UNDER $10K.

Mail me if U want more info.

#4

Re: Washington DC Area - Posted by Jim

Posted by Jim on October 31, 2000 at 03:43:02:

I wouldn’t worry too much. Here in the Napa Valley, CA the avarage SFR sells for $310,000. Bread & Butter homes (3/2, 1200sqft) start at about $250,000 and go UP. C.S. works here.

If I were in you area look at ALL the papers from the Metro Area (Montg. & P.G. counties in MD and Arlington, Fairax, Springfield VA areas). I’ll bet you can find motivated FSBOs (For Sale By Owner) there, esp. P.G. county.

Just expand you scope a bit. All sellers don’t advertise exclusively in the Post.

#5

common mistakes - Posted by RR Smith

Posted by RR Smith on October 30, 2000 at 18:57:30:

Most of your objections to the CSheets course are handled here on a regular basis stan, as I understand them they are:

The properties in my area are over priced and out of my range.

There are no desparate sellers in my area (I’ve checked the Sunday paper) since everyone is making LOTS of money.

(and my favorite)
I can’t go 45-60 miles to find a motivated seller cause that is outside my comfort zone.

Since 31% of the people in DC drop out of high school (LA is next with 30%)maybe you should do a section 8 four plex first? How are your landlording talents (skills?)? Most of the duplexes in New Orleans go for about $110K to about $160K in average neighborhoods.
please review your course work again

#6

Re: Washington DC Area - Posted by Bobby

Posted by Bobby on November 02, 2000 at 12:42:00:

Hi all,

I live in North Carolina, and parts of NC are fast growing, with appreciation in the double digits.

I also look in the newspaper(s) and find very few if any modtivated sellers. I have quit looking at houses and only looking at motivated sellers and it saves me time.

It took me awhile and some time to read what other REI’s are doing that are sucessful, they don’t look at houses they look for motivated sellers!

Bobby

#7

Re: Washington DC Area - Posted by stan

Posted by stan on November 06, 2000 at 09:47:23:

Thanks for your response. How are you finding ‘motivated sellers’ in contrast?