As you can see, it’s been a few weeks since my last post.
It’s been extremely busy here with kids getting out of school, planning a vacation, and running multiple businesses…
Let’s get back on track with this week’s Free question:
I missed my opportunity in California in 1998, it is now 2008, and I
don’t want to miss it again. I’m looking at buying your
pre-foreclosure coarse, but I want to ask you a couple of questions
first.
1)I know this will work anywhere, but the California market appears
to be a different animal. My question is, will your program work for
California. The reason I ask that is some gurus give great advice,
but it is only for their specific market.
2) Maybe your coarse will cover this but I would like to know first
if this is OK how in the world do you get the loan current on a
preforeclosure, without using your own money?Derek, if you ever come to California I will take you to see the
Clippers, naw just kidding, the Lakers I mean. We also could catch a
baseball game( wherever) my treat just to pick your brain a bit
First, understand the market is just making a correction. You know 10 years ago, people were wondering if they could still make money in the California market as prices continued to soar. Some sat on the sidelines and just wondered…
And some made money, but investors had a different complaint 10 years ago. The complaint was that they couldn’t find the deals.
Now, people are lining up ready to hand the deed over just to get out from under the deal. And, now people complain they can’t sell the deal.
Let’s look at my market – good ole’ Alabama…
Different market entirely – It never really took off like some of the bigger markets, and investors here would complain that they couldn’t make money because of lack of appreciation.
People will always wonder, always complain but the only people that really make any money at all are the ones that stop wondering and start doing.
Let me ask you this – do you think there’s no one making money in California investing in Real Estate?
Someone’s buying deals left and right and I’d almost be willing to bet there’s a significantly lesser amount of competition.
Play it smart but get going.
On to question #2:
I have buyer’s lined up ready and willing to invest in the deal before I ever talk to a seller.
They know if I call, then they’d better get off their ass and look at the deal. I’ll use their funds with a double close or to catch the payments up if I’m in a time crunch.
When you already have a backend (a buyer) then you’ve just got to focus on finding good solid deals that meet their criteria.
Lastly, I’d love the Lakers game, but you’ll probably never see me in California cause I hate flying.
I’ve flown several times with each time hating it a little more. I believe it has something to do with the lack of control.
Gotta go –
Derek
PS -By the way, this next week celebrates my 8 year wedding anniversary!
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