Original message
| Tim
  |  "any thoughts on this one??"
, Wed 14 Mar 14:06 
A couple days ago I spoke with the owner of a house that they have been trying to sell for atleast a year. The current owner also lives several states away from the property in question. As I mentioned they have been trying to sell their house for awhile, & currently have a listing with a realtor that is due to expire at the end of this month. They were originally asking $49,900, but have since dropped that to $44,900. This house is a 3bdr/1bth/1,000sq ft. home. I currently have a comps cd, but not for the city/county that this house is in so I checked on Yahoo's comps (although I'm not a big fan of theirs at all), & I did find a house Very close in proximity that sold for 39k last June. Also, when they were moving out of state they wanted someone that they knew for comfort purposes to rent their home, & this person is currently paying $375/mth in rent. Their current mortgage payment is $348/mth. When speaking with the wife, she was watching 2 young children that were starting to get quite restless, so I thanked her for her time, & shared with her that I'd be in touch. I know that I'm still void of some pertinent information here, but if anyone can share some insight as to if this could be doable please share your thoughts. Have a great day everybody, & thanks again! P.S. whoever had the idea of do a deal, buy a course, do another deal, attend a seminar...great idea. As soon as I do a deal, sign me up for Bronchick's Cash Cow. Keep on truckin everybody!
Sincerely,
Tim
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| Tim
| "Re(1):any thoughts on this one??" , Thu 15 Mar 11:05
Lynn & Matt, thank you very much for sharing your thoughts in reference to that possible deal that has been presented to me. That article by John Burley was fantastic, & hopefully alot of people read that, & got something from it.
I'll be the first one here to fully admit that I've more than once been struck with the "Fear of Failure". As Cus Damato (sp) once said, "Fear is like a fire, if you contain it, you can control it & use it to your advantage (motivation), however, if you let it get out of control it spreads, & can consume you". For those of you unfamiliar, Cus Damato was Mike Tyson's trainer when Tyson was first starting out, & before he became a menace to society, & Evander's ear.
At this stage of the game, I currently have Legrand's wholesaling/retailing course,& have worked as a bird dog finding rehab properties, & should a rehab deal present itself I would feel very confident in my ability to be able to do the due diligence in being able to present an offer. However, when it comes to subject to deals, owner financing, etc. that's where the "fear of failure"/ lack of confidence/lack of knowledge comes into play, & I start doing figure 8's...lol. That however, will not put me into the category of the, "Ok, well, I gave it a shot, perhaps flipping burgers is next on my to do list"...this WILL work..no matter how long it takes.
Have a wonderful day everybody, & thanks so much for your encouragement.
Tim
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