Posts by Mitch Stephen
The New Value of Houses-Owner Financed
BACK INTO AN “OWNER FINANCED” PRICE USING LOCAL RENTS AS YOUR BASELINE Here’s the problem with using MLS Data and doing Current Market Analysis (CMAs) to find an After Repaired Value (ARV) in an area that has crashed price wise; Your values are going to come in way lower than the values WE should be…
Read MoreSell That Stinking House
Mitch Stephen’s Special Report: Sell That Stinking House This is a must read report if you want: To sell a house that a pet has been living in. To learn how to remove pet odors and stains from almost any surface. To clean up pet accidents including urine, feces, vomit, blood, and fur. Little known…
Read MoreSelling Expensive Homes
Question today from a student: Expensive Homes Would your program work in areas where the homes are more expensive than those described on your model — even in the “half-price areas”, where the rents are below the 10% rule of thumb? Homes for $495,000 do not command rentals exceeding $3,000 per month and homes for $200,000 cannot…
Read MoreWHOLESALERS: Deal Must Fit the Formula
There is little limit on what the wholesaler can make, BUT, the deal has to fit the formula for the buyer of the wholesale deal. REMEMBER: We savvy investors don’t worry about how much our birddogs (wholesalers) are getting paid. Our only concern, as the buyer, is that the deal fits your formula. If the…
Read MorePRIVATE MONEY It’s about the DEAL
Private money is key. You may pay more but there is a certain peace about private money you almost never get with bank money; you can get private money as “non-recourse money.” That is to say; the loan is a collateral only loan and the lender had NO RECOURSE against YOU PERSONALLY. You don’t…
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