Straight Up Hood.

I contacted my Real Estate mentor today to ask about a good mortgage broker for my potential buyers on this house I have on contract (he still hasn't told his sister he's selling... I agreed to keep my marketing on hold. what a push-over I am).

I called & then met with him and we got talking about some of the deals we've seen & missed out on during our time in the business. He mentioned a potential deal he had in Richmond that he wanted to wholesale, but didn't have time to market it. I told him I'd give it a shot for a $5k fee. He said yes & we were off & running.

I made a quick call to my sister-in-law who happened to live about a mile from the house & got her to snap a couple of fresh photos for me. I reviewed the appraisal for info, drafted a quick craigslist post with photos attached and posted the listing right at mid-night so that i would be the first listing of the day. I ended up being the 3rd listing for the day. I could have probably drafted a better marketing message, but it's not an MBA project so I'm ok learning as I go.

Here's a link to the craigslist ad. Let me know if I missed anything obvious.

Here's the photos & stats...
Blt 1910, appraised at 192k as is, asking 118k (yes, that includes my fee). 3br, 2bth 1500 sq ft.

It's in the hood, but it is one of the nicer houses on the street and with the spread for the investor buying it I'm hoping we can get it sold quickly to a cash buyer & I can put some dough in the bank for next month's mortgage pmt.

I also need to wait a day for my Richmond Real Estate Investor's Club membership to process so I can post a listing to the membership list there too.

The broker has a hook-up for foreclosure properties due to his connections in the mortgage business and we're both thinking that if this deal goes well we could have a little money making venture started here...

Ever forward.



ps. I had another probate call today where the lady held onto my letter for 3 months! Gramma had leveraged the property up to 70% with a reverse mortgage before she passed so there was nothing I could do, but it was great to hear that my letters are getting read/saved!