2 question survey

[AUSinvestor]

How and where did you find your best deals?

How and where did you find your financing?

Thanks!

[Admin]

Pete,
Good questions...

My "best" one (my own criteria here, of course) was a preforeclosure.  I seem to pick one up each December as investors must slow down then (I guess).  I mailed one round of postcards and received a call from someone who had been in their house for eleven years.

Long story short is the first arrangement with the seller didn't work out as the lender wouldn't grant an extension so the seller ended up deeding it over to me while I was out of town.  There was no paperwork at all - just a promise I would get him some money.

I sold it to a buy and hold investor I found through an agent.  I treated for termites, mowed the yard, and walked with a check for 37k.  I gave the seller 10k.  He was ecstatic and went to buy a new truck.

If only I could repeat that on a regular basis...