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texas: Myths about Foreclosure (Texas) - 02/20/07 06:02 PM
Please note that my area of expertise is in the State of Texas and the statistics contained in this article should not be relative to other states.
The following question was asked on a local Dallas Real Estate Board about foreclosure deals...
"So where are these great deals!! Inquiring minds want to know :confused"
Here is my relpy...
All you need to do is wait at home because the foreclosure deals are set to be delivered right to your front door! Packed with equity and eager homeowners ready to leave their homes in tip-top condition!
WRONG
I feel this is a good time to relay a little bit of REALITY.
The … (9 comments)
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texas: Simple Formula to Figure Equity Percentage AND Cents on the Dollar Cost - 02/14/07 10:42 AM
This may seem elementary to a lot here but I continue to see my students writing frantically to get it down so, I thought I'd post it. (also posted on another national site)When you first look at a potential deal, how do you determine the equity percentage and/or figure out how many cents on the dollar it will cost? This is a very simple thing to do and knowing it will greatly assist in walking away from a potentially bad deal. Example: A house will cost you $65,000 to buy and has an After Repair Value (ARV) of $100,000 (The ARV … (0 comments)
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texas: Marketing to Pre-Foreclosures (specific to Texas) - 01/25/07 12:55 PM
The following question was asked on a national real estate forum site and it is followed by my response. Pre-foreclosures in the DFW area is my specialty area and my opinions are based off of my personal experiences.
"I was wondering if conducting a mailing for pre-foreclosures is an effective technique? Is this more effective then door knocking?"
Opinions: Door Knocking - Terribly time consuming and represents the least chance for a deal. On the plus side, it helps you to identify the characteristics of abandoned houses. Calling on Phone- This method yields only about 30% as far as listed numbers. The ones … (8 comments)
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Jim Watkins
Garland,
TX
More about me…
DFW Mentor
Address: Garland, tx, 75042
Cell Phone: (214) 734-5100
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