All Forum Posts by: Andy Chu

Great post. I think we've all made that mistake quite a few times.

Chad Mellentine This really depends on two issues. Depending on the lender, some will require two appraisals while others do not care. Be proactive in this deal and find a lender that can do it.

Building the buyer pool is easier than finding the deal. I would say find the listings first.

I'm going to disagree with Nathan on this one. I am a rehabber and we are always looking for more opportunities to acquire. Who is to say that when the wholesaler finds a deal, it will go to you? There are plenty of ways to pick up properties and yes starting some campaigns may be high, but getting that perfect property with a crazy margin may be all worth it. Furthermore, if you find deals that have some margin but you do not feel like doing the work, whole sale it out.

Best of luck!

Remember that the fiancée is their only source to credit and they are putting down two months of deposits. If one person on the lease defaults, you can go after the therefor the entirety. I don't feel this one is too much trouble, in fact I feel it's more of a guarantee. In my opinion, I would take this one and run.

I know that a lot of us on here are use to using acroynms, but looking at some of these posts, a lot of people will get lost if they are just starting out (or it might just be me) I have a habit of it myself, but its really tough to keep all of them straight. Can we try to at least define an acroyomn in the post somewhere so they don't have to go looking it up?

"Send offers with an RPA and EMD, and dont forget the POF" Make sure to mark if you are O/O or I/O. Since this is an SS and not an REO, send offer with for 150K with 4,500 in CC with COE of 30 days from DOA. We can then have a DD period of 5 days. This should produce a 15% ROI"

I'm using the above as an example of how confusing it gets. I know it reads find to most of us, but sheesh, imagine starting out and just googling half the acroynms?

Is the offer being financed? If the buyers offer is subject to appraised value, that is becoming normal. You can counter back with buyer is willing to pay x amount above appraisal value. However, I'm not a big fan of playing hypotheticals

I'm surprised to hear that. I'm glad other NACA offices are run better than our local one.

This sounds like an interesting dilemma. I hope you are ready to drive him around to recreate his birth certificate, identification, and ss card. This is definitely one of the most bizarre situations. Keep us posted.

Chartroom.... I thought it was a wish list . I didn't know it actually existed