Portsmouth, OH · Member since 2009 · 198 posts · 54 votes
15y
Peter,
Welcome to BP!
Have a realtor pull short sale listings in your area for you. After some DD group the ones you want to buy and send in your LOI to the lender. You could also contact the main administrative office for the lenders. If you call ask to speak to either the Secondary Marketing Department, Special Assets, Capital Assets, or Capital Markets Department. If they don't have such a department, ask to speak to the department that handles the defaulted residential or commercial loans, not foreclosures.
Here are a couple of websites that could help you in your search. I have nothing to gain by any ones use of these sites.
Portsmouth, OH · Member since 2009 · 198 posts · 54 votes
15y
Peter,
Welcome to BP!
Have a realtor pull short sale listings in your area for you. After some DD group the ones you want to buy and send in your LOI to the lender. You could also contact the main administrative office for the lenders. If you call ask to speak to either the Secondary Marketing Department, Special Assets, Capital Assets, or Capital Markets Department. If they don't have such a department, ask to speak to the department that handles the defaulted residential or commercial loans, not foreclosures.
Here are a couple of websites that could help you in your search. I have nothing to gain by any ones use of these sites.
Real Estate Investor · Gloucester, MA · Member since 2011 · 1 post · 0 votes
15y
Peter,
I currently have a defaulted note for sale in Lynn MA. The property is a mixed commercial/ residential building. It has the following details which I think would make it ideal for an investor:
The seller of the note is investor friendly
The property has 200K equity
Property is almost fully leased and cashflowing
The owner of the building is cooperative and willing to negotiate.
The current balance on the note is 572K and it is being sold for 390K with financing possible
If you or anyone else is interested please contact me and I can send more details.