Kristen PhilistineParticipantSeptember 5, 2017 at 6:28 pmPost count: 5
I am looking for some advice on what to do in this situation. I sent out a mailer the beginning of August to a few counties in Texas, and with my luck Hurricane Harvey hit those areas dead on. So I am not sure what the best route is. I know the area will be restored within time. However, I am worried about buying these properties and having an issue selling them due to others being concerned about damage in the area and what not. What would you do in my situation?
KristenChuck LidtkaParticipantSeptember 5, 2017 at 9:05 pmPost count: 121
I would simply not buy them based on the Due Diligence contingency in your offers. You are not bound by buy them based on findings. Move on to other counties. Sellers will more than understand.
When all else fails, Mail! Then Mail some more! 🙂Kristen PhilistineParticipantSeptember 6, 2017 at 7:06 amPost count: 5
To give a little more information. I am buying infill lots for about $1,500 a pop in this particular area and I could sell them around $7k. Would you mind specifically going through your logic as to why you wouldn’t buy them? This was my first mailer and I mailed about 2,000 so that would be a huge expense to just do another mailer. However, I do not want to spend money on properties that potentially will take a while to sell. I will do another mailer soon, but I want to make sure what the best decision is.
Thank you!BrandonParticipantSeptember 7, 2017 at 3:57 pmPost count: 46
I would still buy them if you can get a smokin deal on them. You’ve already paid for the mailing just try to make the best of it. When you get responses just tell them you have to lower your offer now. And offer them whatever you think is an amazing deal.ShammgodParticipantSeptember 7, 2017 at 5:04 pmPost count: 127
just tell them you have to lower your offer now
agreed- i overpriced my last mailer and had to go back to a bunch and offer less, and a number of them accepted.Luke SmithModeratorSeptember 7, 2017 at 7:55 pmPost count: 1258
1500 buy 7k market sell them for 3500 and one pays for the mailer. The rest are gravy. Send more mail to line up behind them selling.Chuck LidtkaParticipantSeptember 7, 2017 at 10:28 pmPost count: 121
Agree with all the above, I would buy too them if you are getting that good of a deal as you mention above. It was initially taken that you were trying to find a way to get out of buying and thought you were stuck. I would send more mail there too.Adam HarrisonParticipantSeptember 7, 2017 at 11:41 pmPost count: 36
I see nothing wrong with buying them provided they are ACTUALLY worth 7k today, as-is. Due to the hurricane, I strongly doubt that they are worth anywhere near what they were worth when you sent out your mailing — I would look into this and research the ACTUAL values of properties in these counties as of today and renegotiate based off of that.
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