Sunday, November 14, 2010

House For Rent

House For Rent. We are offering a 4 Bedroom, 2 Bath with a dishwasher, deck, fruit trees, garage, in Sweet Home, Oregon, on 1/2 an acre. $825/month.

Thursday, August 26, 2010

Ohio

John Holbrook is returning from Ohio. He will have lots of information from what he learned at the seminar there. Can't wait to hear it all. Will share!

Saturday, May 29, 2010

Challenging Property ... No Water!

John and Laura Holbrook are assisting a friend in dealing with a pending foreclosure. This friend owns property that has no water of it's own, the well has gone dry so water has to be hauled to the property weekly.
This water problem has devalued the property below the loan amount currently on the property. It's a nice 6 1/2 acre lot, with a 3 bedroom, 2 bath house on it and a 4 stall horse barn.
This friend has attempted to work with the bank to get a loan modification, without any success. So now, the property is listed, hoping a cash buyer will buy the property, since it does not qualify for a bank loan without water.
So many people are loosing their homes to foreclosure that John and Laura are reaching out, doing what they can to assist them.

Sunday, March 28, 2010

Sweet Home Oregon

John and Laura Holbrook just purchased another property in Sweet Home Oregon, rural community, without a lot of pride in their school district and social events. Sweet Home is the home of the Oregon Country Jamboree, a yearly event that brings top country western singers to town for a week of fun and music.

Monday, February 15, 2010

Duplex in Junction City Oregon

John and Laura Holbrook just closed on a duplex in Junction City, Oregon. The key to acquiring this property was:
1. All cash offer.
2. No inspection.
3. No contingencies.
4. Ability to give proof of funds.
One of the best parts of this duplex is that a large industrial type shop is attached to the property. The shop actually makes it 3 units instead of only 2 because the shop is rented out separately.

Friday, January 29, 2010

Friday, January 15, 2010

OFFER ACCEPTED ON DUPLEX AND SHOP, WHY?

John and Laura put an offer on a duplex with a large shop yesterday $127,000.00. This was a very hot property, lots of interest, bank owned, the price had been lowered for the second time. There were six offers on this property and John and Laura waited and wondered if their offer would be accepted. One day later, they found out their offer was accepted. So, why was their offer accepted over the other 6? There were a few differences:
1. They offered slightly above the asking price.
2. They offered cash and provided a proof of funds letter.
3. They did not require an inspection.
This is a great property, more will be posted as time and the deal moves forward.

Wednesday, January 13, 2010

Than Merrill Webinar Today, Cash Buyers

During the Than Merrill webinar today, they emphasized cash buyers as a preference. As most people know, banks are very slow to loan money right now. John and Laura totally agree with the benefits of using cash to buy real estate. Great discounts are many times available to those who have cash, plus a cash offer will many times be accepted over traditional financing.
A statement made during the webinar, "... opportunity costs...," means, having a cash buyer is an opportunity that is at hand, and waiting for a buyer to get financing can take 30-90 days and sometimes longer, plus the financing can fall through at any time.
The way it was said years ago is,
A bird in hand is worth two in the bush.
Another phrase used during the webinar was, reverse selling, meaning you are starting out with your buyer, finding out what they want, then find the property they want and selling it to them.
They said, "... it's like being your buyer's personal shopper."

Sunday, January 10, 2010

Son Learns Real Estate Investing Business

Abe, Laura's son spent a few days with her in the office, learning what "they" do to some degree. Isn't it everybody's dream to have their children become a part of their business? Well, it is for John and Laura.
Abe is a quick learner and is looking forward to joining in on future business transactions, such as auctions and evaluating real estate deals.

Friday, January 8, 2010

Ever Heard of Being Kicked Out Of Bankrupcy? John Attended Last Nights NW Real Estate Investors Association Meeting in Portland OR Last Night And Found Out Why?

Caryn McKinney, an attorney from Atlanta Georgia, presented the topic at the NW REIA meeting, "Finding people who are being kicked out of bankruptcy." This is sometimes an overlooked group of people. 87 per cent of people who declare bankrupty are kicked out, the court will tell them they are not longer eligible for the bankruptcy protection.

The main reason for being "kicked out of bankruptcy" is they fail to comply with the reorganization structure the court has given them.

The reason why? If a person can't make all their payments on 100 percent of their income, they are not likely going to be able to keep up with their expenses when the courts allocates a portion of their income to pay off the bankruptcy.

It's an unfortuate situation, but a reality, and property buyers should look at this group of people.

Sunday, January 3, 2010

Sweet Home $73,000 Fixer

John and Laura followed up on a listing that John's sister Peggy sent to them. It was a 3 bedroom, 2 bath home in Sweet Home Oregon, a definate fixer. A drive to Sweet Home this afternoon to see the property revealed a true fixer upper, with dry rot, mold, roof in need of replacement, etc. So... a piece of paper with estimates was started and it looks like about $20,000 in repairs would be needed.
They are considering an offer, but again, they are wondering if this property fits the profile they are looking for.