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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Don't waste valuable time, skip the marginal deals as soon as you can... Posted by Ward-CA- on January 16, 2004 at 7:26 AM In Reply to: Unconscionable Advantage posted by Jeff on January 15, 2004 at 5:47 PM : Ward, : I've had several deals similar to this and want to know what you'd do: Owner is in default and after I do the the Seller's Net Equity worksheet, I find only, lets say, $18k total net equity on the property. That means that with a 50/50 split I would be doing the deal for only $9k-not worth it for me. The owner will take little or nothing (moving money) but I've been letting them go. Any suggestions? ============= Jeff, I'd pass on borderline deals that just aren't worth all the effort for the small payoff they proffer. It's the same as if you were buying at the auctions. You wouldn't bother attending a Trustee's Sale for a property showing only half of your minimum profit would you? You should be doing a pre-visit analysis on all your potential deals to determine what, if any, owner's equity is available before you waste your time in a situation where's there's little or no equity available. When this Seller's market switches to a declining Buyer's market you'll really want to check deals out beforehand. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I've had several deals similar to this and want to know what you'd do: Owner is in default and after I do the the Seller's Net Equity worksheet, I find only, lets say, $18k total net equity on the property. That means that with a 50/50 split I would be doing the deal for only $9k-not worth it for me. The owner will take little or nothing (moving money) but I've been letting them go. Any suggestions? : ============= : Jeff, : I'd pass on borderline deals that just aren't worth all the effort for the small payoff they proffer. It's the same as if you were buying at the auctions. You wouldn't bother attending a Trustee's Sale for a property showing only half of your minimum profit would you? : You should be doing a pre-visit analysis on all your potential deals to determine what, if any, owner's equity is available before you waste your time in a situation where's there's little or no equity available. : When this Seller's market switches to a declining Buyer's market you'll really want to check deals out beforehand. 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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