I Have To Let Go Of 3 Properties And Its Killing Me!
This is not an advertisement, I just needed to vent. I had started my advertising by placing signs up along major intersections in GA, I had postcards made up and placed on the doors of properties I thought to be in preforclosure, even had a few carsigns made up. If anyone ever said that advertising doesnt work, they just arent doing it right. I have more biz then I can handle. In particular 3 willing subject to properties that I can do nothing to help. They are all going into forclosure and I feel terrible that I cant do anything to help them. All three properties have so little resale value, and my new company doesnt have the capital needed to do what needs to be done with these. What do you guys suggest I do?
I love how earnest you are about the business and from my personal experience you just can't do all the deals. I run into this all the time and I especially hate not being able to help all in preforeclosure.
Run out of money.
Not enough equity.
No profit.
Lender not willing to work out.
And the list goes on.
But we are running a business and to continue we must make a profit.
Sometimes it's best to just let it go and go onto the next project.
Remember that the strikeouts most never remember it's the homeruns that make history.
Just be glad business is good. But if there is a will there is a way. Try to find a couple partners or hard money, private investors, family members. GOOD LUCK!!
Have you learned to do short sells?
Brenda
Why dont you tiie them up and wholesale them to another investor for $3k - $5k.
Best Regards,
Jeff Adam
[addsig]
Thank you all for your replys...as usual, you guys are a fountain of information.
Hello,
I've had similar experiences. What I did was to explain that they can LO their home to some one and get 3 to 5k down to take care of thier delinquent payments.
Thanks,
OnTheWater :-D