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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: TOO RISKY Posted by Jorge on April 20, 2003 at 11:18 AM In Reply to: Make equity in the buyout. posted by SeanW on April 19, 2003 at 3:47 PM I understand now. I agree with you Sean. At this time works better in CA and it does not mean it can't work elsewhere. Not because houses are expensive but because the seller market has already created "equity" for the owners in distress. Counting on convincing the owner to deed you the property and move "after" buying the Junior is too risky. It it not just the money invested but your time and effords. In a flat market at the very least you should consider 1st+2nd+ 20% profit/equity =FMV . If a deal (at least)pencil out this way then you talk to the second and get a feel for how much they are willing to dump the note to improve your profit. Get a deed and agreement to move from the owner before doing the JBB. Get a deed, buy the 2nd, file the deed, reinstate the first. If done in any other order is to risky. Now you can afford to rehab, market and make payment for 6 months if neccerary because of the flat market and still make money. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I understand now. : I agree with you Sean. At this time works better in CA and it does : not mean it can't work elsewhere. Not because houses are expensive : but because the seller market has already created "equity" for the : owners in distress. : Counting on convincing the owner to deed you the property and move : "after" buying the Junior is too risky. It it not just the money invested : but your time and effords. : In a flat market at the very least you should consider 1st+2nd+ : 20% profit/equity =FMV . : If a deal (at least)pencil out this way then you talk to the second : and get a feel for how much they are willing to dump the note to improve : your profit. : Get a deed and agreement to move from the owner before doing : the JBB. : Get a deed, buy the 2nd, file the deed, reinstate the first. : If done in any other order is to risky. Now you can afford : to rehab, market and make payment for 6 months if neccerary : because of the flat market and still make money. : : Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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