This email took place this morning.
Edit to add-Or maybe we should just do it anyway to show her that it can work here or anywhere for that matter.
Now that I have been doing some more homework I have a better idea on what I would like to do but I need to ask you some more questions if you don't mind.
Are you willing to work with new investors and have you worked with investors in the past?
Have you ever handled an assignment of contract?
Are you willing to make low offers?
I probably got ahead of myself when we first talked about what I would like to look for but now I have a better understanding of what I would like to do. It's called a 25/1 program and has worked great for this bottom market. I would like to make low offers of 30% to 50% off FMV in the valley and surrounding areas. Any offers that do get accepted I would like to assign another buyer and make a small profit for finding the killer deal and make it win-win for everyone involved. I know this might sound crazy but it does work and I have talked to people that are doing it everwhere with great success. So basically out of 25 low offers chances are that at least 1 will get accepted in this market. If you would be willing to do something like this let me know and I can give you some info on what type of properties I am looking for.
I have handled an assignment before. Yes, I have worked with investors..as for the low offers, it does work if the market allows. Here in the Valley we are still getting multiple offers on properties and the sales to list price is only off by about $5000. for lower priced homes ($150K and below ) We do not have a lot of sellers that can take that much less since they have mortgages to pay off and are not in financial trouble. If they are in trouble, then there is a short sale to deal with, which can take 6-8 months, but I don't have a problem with that. That will probably get you nowhere here, but will work in a bad market, I just don't know of any market that is like that in our sales area. I know it has worked in Las Vegas and such...but not here.
I am willing to make a low offer, but only if I know that the seller is motivated to sell. the problem is we are not seeing such motivation here.
What do you guys think.