You must be logged in to reply to this topic.
-
Just joined CFD yesterday…don’t know why I waited so long!
I’ve been involved in RE for the last 12 years…but have only done 2-3 deals each year, including rehabs, LO assignments, assigning options…a little bit of everything.
On July 4th, 2013, I reached that magical age of 59 years plus 365 days (I guess I’m still having trouble with what comes after that).
I am eligible to retire from the court system, but it would not enable me to live the lifestyle my wife requires…and me, too, I guess.
My last 3 real estate deals have come from tax delinquent properties that I got an option on. On one of them (which was vacant land), I flipped in 3 days for a $5K+; one for $800; and one for $1,500.
My business plan is to get as many options as I can (a clause in the option I use makes it automatically renewable until I cancel it). I will then encourage the seller to do seller financing with me, and that flip it doing a highest bidder sale for the down payment. If the seller will not do seller financing, my option will remain in place until such time as I release it (for a marketing fee reimbursement), or exercise my option in some other fashion.
I am humbled to be a part of this group and the expertise that everyone shares.
Mike Gibson – Enjoying the good life on Grand Lake in the beautiful Ozarks of northeast Oklahoma!
Hi Mike
It is amazing how fast time flies!
There are a lot of new rules for selling with seller financing. I suggest you listen to the replay of the coaching call with Mindy Henderson and Bryan Dunklin to learn about it.
You will need to modify your approach starting January 10th…. or sooner would be better.
Welcome to the group
Jackie
You must be logged in to reply to this topic.
