Ask Ron 2012-02-17

14 Responses to Ask Ron 2012-02-17

1. William Allen says:

   February 18, 2012 at 6:14 pm

   Ron, there may be money in the low priced house with the tax lien. Depending on local law, any funds from the tax sale, in excess of the tax lien may go to the property owner. So it may make sense to record the deed and wait.

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2. Chris Whitwood Whitwood says:

   February 19, 2012 at 3:46 am

   I’m still laughing at that last answer.
   I’ll pay the cost of gold club just to have a good laugh.
   I love you man!

   Reply
3. Andrew Distad says:

   February 19, 2012 at 10:08 am

   From: Andrew Distad
   Location: La Quinta, CA (Palm Springs area)

   Great answer to my question Ron!

   That’s great to know about Zillow and Trulia ceasing MLS feeds. I guess county records may be all they have now. (And not all counties have data available online, they’re stuck in the 90s!)

   My realtor said I shouldn’t bother making 45% of ARV offers to REOs because it wouldn’t be worth the time. He told me to find a different realtor to present those kind of offers.

   So my first question is: Should I find a new realtor? Or do I need to not shoot for such an aggressive profit spread on REOs like a 55% discount?

   My second Question is: I’m trying to buy an REO that was originally listed for $299,000 140 days ago, but it’s now listed for $259,000 and a place nearby in the same HOA community with the same 3 beds 2 baths and 300 LESS square feet sold on December 9th for $339,000 (just 10,000 less than it’s listing price).

   The property just needs a little new carpet to replace the low grade nappy commercial carpet, a few cracked tiles in the living room need to be replaced, and the crab grass in the front yard needs to be removed. And my realtor said that a tangerine on the ground looked like a rat had eaten it, so some pest protection may also be a fix up cost. Other than that it’s move in ready.

   Location: La Quinta, CA
   ARV: $320,000 on the conservative side
   Asking: $259,000
   Renovation: $3,691

   What entrance and exit strategy would you recommend for someone with no cash or credit (589) who is trying to buy an undervalued REO like this?

   Thanks!

   Andrew Distad
   La Quinta, California

   Reply
4. Ronald Corbett says:

   March 11, 2012 at 2:43 am

   Ron, thank you for taking the time to answer my question. I did back away from the deal for the time being and I am still in the game. I do have control of a few properties and I’ve completed a couple of wholesale deals. By the way I live in Camden,New Jersey. Thanks again

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5. Bruce Moore says:

   March 29, 2012 at 10:26 am

   What is Pingback. Are they affiliate marketers

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6. John Rogers says:

   August 29, 2012 at 5:36 am

   Don’t bother with the low end houses, ie 30k, when there are so many much better deals in the higher level properties. Thanks

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7. Cresencio Mandujano says:

   September 10, 2012 at 3:01 am

   RON IN THE LED saling program is included the form for the questions to ask

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8. Karimah Shaheed says:

   October 26, 2012 at 10:59 pm

   Very informative. This information is valuable.

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9. Michael Minnihan says:

   January 16, 2013 at 8:00 pm

   Watch this video as Ron has a good script in response to the sellers question of ‘How do I know you will make my payments?’

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10. Michael Minnihan says:

    January 16, 2013 at 8:14 pm

    Ron says he uses RealQuest for comps

    Ron says a comp is a comp is a comp and doesn’t care what site it comes from.

    Reply
11. William Clark says:

    May 25, 2014 at 7:08 am

    Great points. I didn’t know about Trustee information so I learned something new on here.

    Reply
12. Ronald Guyor Sr. says:

    July 25, 2015 at 7:40 am

    the only dumb question is the one not asked so here goes.When lease optioning do you pay sales tax on this transaction or does the buyer when he gets financed pays the sales tax?

    Reply
    • Elliot Land says:

      August 3, 2015 at 9:44 am

      Hello Ronald!

      Ron answered your question here: https://www.ronsgoldclub.com/resources/ask-ron-2015-07-31

      Reply
13. Matt Prchal says:

    December 7, 2015 at 9:09 am

    Some of these questions were pretty helpful as another review of information that is already known, but refreshed. It sounds like a lot of students are trying to make deals work that have zero merit in the first place.

    Reply