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Since nothing else has worked, thought I would see for myself and give this a try. Someone here said you lose about 30%. Well getting 70% sounded like a deal to me.
I filled out the forms and sent them in to a couple sites. Turns out they are real estate companies that just want to list your house. Just more of the same song and dance. Didn't find any of the sites that had real cash buyers.
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I always wondered about them. I knew they were a scam but I thought they bought houses. For WAY under their vaule!
Nope! I couldn't even get a lowball offer.
WTF does the "We Buy Houses For" mean then?
I think they are just trolling for sheeple....er...listings!
Not all are scams, some investors use it in my area. I don't blame you for being mad!
Try HomeVestors as well. You won't get anywhere near as much as you would on the open market, but they are legitimate.
blah blah blah, the "i believe in robert allen scams" wanna be wholesaler believes in the other scam sites too; what a surprise.
I did try them and they said they didn't have anyone in my area. I haven't looked up the ones CA Wholesaler said to try yet.
They do profile their prospective customers and I probably don't fit. All my bills are paid and I have a 75% LTV. They ask how much your home is worth and why, I can tell them exactly and give them a 7/08 appraisal figure.
Of course, I've already lost so much that it hardly even matters anymore.
yep a kid who needs pimple cream posting signs by the road that say "i'm ugly and I buy homes" or whatever is really a real estate mogul...
dude, I invested more in real estate while you were in diapers than you have to date. I have cleared over half a mil in profits out of real estate, when I sold in 04 and 05.
you are just a misguided kid running around playing investor. lets recap your mistakes:
1. Robert Allen has a lot of good information. FALSE Robert allen is a scammer who sells scams that would get a serious investor potentially sued or prosecuted. His success is from selling seminars, NOT investing in real estate. Google it.
2. "we buy homes" is a good idea to sell a home. FALSE, as the original poster has stated, they didn't even offer to buy his homes. When these companies ever make offers, they are such ridiculous lowballs that a seller would be much better served to simply list at a low price. They would sell for much more money than contacting any of these scamsters.
3. you are a wholesaler. FALSE. a wholesaler is someone who has bulk homes to sell. Do you have bulk homes? say even 10 in YOUR portfolio? NO!
So what is left? a kid who went to some get rich seminars, believes them, and thinks he is about to make a big score. whatever.
Patrick here is your company: golden lily properties we scam houses just another "we buy houses" scam place...
and as to your experience, according to YOUR profile, you are 20 years old, living in vacaville, and set appointments for an HVAC company... patricks profile
[content removed by moderator for being a personal insult]
And just in case you don't already know, azrob is a tenured college professor who does not need to make money scamming people. Why are you not in college right now? Why are you posting here? Don't you have an exam to study for? Mamma's not going to be happy when she sees thar report card.
Stay down kid, stay down, take the count.
Wow Alps, I didn't know you had it in you!
I'm not going to jump on you, but you seem to be trying to impart a lot of knowledge for someone who has been in the business a scant 2 years.
I have seen Azrob actually post some of his investments. Would you post some of your investments so that we can see that you've actually performed versus just expressing what you believe in theory?
Funny thing about investment theory...
This is an awesome thread.
I was hoping for some of your deals. Not your company deals. I'm sure many of us working in offices can put up deals of significance, but your own personal deals will illustrate an understanding of actual practice versus theory.
either way, would be interesting to see.
Patrick does not have any deals because he is just a glorified secreatary. You think a company is going to let some 20 year old punk go out and make deals?
Dude, you've been punked. Your not an agent, not an investor, just a guy with a scam and a dream. Good luck with that nonsense.
Get a REAL job Patrick.
Rob is a college professor. He is one of the smatest people on ZIllow. Your just a little prick who works for a scam artist company that does not even have a website. Sooner or later you are going to find yourself in some deep legal trouble.
Whose garage is your company run out of?
I'm done responding to this kid. He isn't an agent, and is out birddogging for real estate business. Getting paid for referals is practising real estate without a license, and the whole, "will buy your home quickly for cash"-deal is a scam. They try to get people to sign the home over, promising to pay the mortgage, and never bother to pay the mortgage. Either charge rent to the original owner, or rent it to somone else, or try to flip it for more money. They rarely ever even have a legitimate offer to buy.
So, owners who are desperate get screwed, and end up with a foreclosure anyways. They could do that themselves.
how do these scams work?
Equity Stripping: The Latest Mortgage Scam
By Bill Bonner • July 6th, 2007 Here's the latest mortgage scam - "equity stripping". Of course, equity stripping is what homeowners have been doing themselves for more than ten years. Until the early '90s, the typical homeowner owned nearly 70% of his house, free of debt. Now, the figure is only 52%.But now, as the housing slump deepens, more and more homeowners are faced with losing their houses. The American Bankers Association says that 19% of subprime mortgages are either delinquent or already in foreclosure.This has created a whole new mini-industry - helping people save their homes. Fast-moving finance companies read the published lists of houses entering the foreclosure process. They visit desperate owners, offering to restructure mortgages in order to prevent foreclosure. Then, they get owners to sign the houses over to the finance company, which strips out any remained equity - and then some. When the homeowners finally realise what has happened, they find themselves even deeper in debt... and the finance company no longer answers its phone.Bill BonnerThe Daily Reckoning Australia
CA Wholesaler Sorry your best bet here is to bail. You are out of your league here....
This post is funny as hell! But not quite as funny as the name "CA Wholesaler" If this guy is a wholesaler then perhaps he can buy out some of those hefty foreclosures in CA, NV, AZ, and FL and lets see him get them sold. It appears he's trying to sell a scam.
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