Working the market

Here is a PM I received that I wanted to make note of. I believe we can all learn from this:

I need help getting started. I have several challenges I'm having difficulty solving. Will you help?
First is no money. I mean none. My husband is a commercial fisherman currently scalloping in MD right now (we're in CT) to scrape together LAST months' mort. payment. Talking of cashing in our daughters' (we have 3) savings bond to make this month;s pymt.

Hoorah....finally a done deal in May! :)

Hello DG Members,

I got some great news on another offer after I was slightly upset about a broker shopping my offer on another home. I had been watching a small brick ranch REO home for 2 months and the price dropped from $69k to $49k. I made an intial offer of $15k and the bank Asset Manager rejected it and countered at $40k. A week later I offered $16k and the Bank Asset Manager countered at $30k. I waited one more week and then stated my best and final offer is $17,500 and the Bank Asset Manager.....accepted the offer!

The little house that got away.....Do not give Brokers too much time to shop your offer!

Hello DG Members,

I quick note to update you on a deal I have been working on. I had a small ranch home on may radar for over 6 months. The property was a "boomerrang" and ended up with 3 different brokers during the past 6 months. The price dropped from an original $59k to $19k. I moved in on 05-11-2009 to make my offer the day the broker received the new listing and before the home was put on the MLS. The Broker put the home on the MLS and sat on my offer for over a week to shop for several offers.

Dean Graziosi Weekly Video Blog #25 - How Are You Moving?

Could the Way You Learn, Succeed, Even Your Very Life Purpose...Depend On How You're Moving?

There's a school of thought that divides people into two groups. Those of us that move away from conflict or pain, and those of us that move towards comfort or peace.

A first that might seem silly... "Don't most of us try to avoid pain and seek comfort?"

Boom Bust! Cities With Negative Equity...

Usually the bigger the boom the bigger bust. Although a bust in the housing market is unfortunate, for investors it provides serious discounts and the window for virtually anyone to get started.

Why? Foreclosures equal more inventory, and foreclosures plus inventory equal deep discounts. In a area hard hit there is desperation. Desperation creates opportunity for those who are not positioned to be the classic investor (buying up houses with cash) to have just as much action as anyone. Banks are hoping that someone, somehow will move the properties off their balance sheet and sacrificing a lot of equity in the process.

If you happen to be investing in area where negative equity reigns supreme, you are likely poised to take great advantage of Matt's 25:1 strategy or similar techniques of playing the numbers game for deep discounts.

Is anyone working any of the areas specifically listed on the chart? If so, please share your experience investing (or getting started) in a top 10 negative equity city.

Assignment Contract and Flipping

I'm not sure if this question has been answered before, but, can anyone tell me what the difference between assignment and flipping is? Haven't got Dean's book yet but Just eager to find out until i get the book.

Hope I posted this topic in the correct category.

Aris A.

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