All Forum Posts by: Ali Shah

Most people may not have money but pending on a states statues and how long you can pursue/renew judgment at some point they will more money and a better paying job.

Thats what banks are doing, reserving right for possible future collection on short sales and some time foreclosures tend to have a very limited deficiency on them in most states(6 to 12 months on the first lien)

If someone was a skilled worker and just happens to be laid off or out of job now sooner than later they will find a job that was paying them close to what they were earning.

As you said it is just a waiting game for now. sit and just watch and act when needed.

@ J Scott

I agree with you as a breach of contract is NOT a criminal matter. In an essence besides all the addendum and so called extra paper work, if you bought a house, now you decide to sale it, it is your and you can do what ever you want to do with it.

FBI and DOJ are looking for frauds. Withholding material fact is a crime not breaching a contratc.

If you have the accurate checking/saving account # as they put that in their original application, you can garnish those accounts. I know that's doable in states of Nevada, not sure about other states.

@ Chris,

you hit it right on the nail. JUST get started. Most people get caught up on the HOW To's and the techniques, with real estate just like and any thing else, you need to learn from being rather than just wanting. Its through trials and errors that you learn the most. DONT over analyze it and just start doing it and find someone that is doing who is willing to take you on and allow you to watch them and learn as well. If you have to contribute portion of your earnings to learn from the right mentor, dont hold back...Money is what you pay, value is what you get!

Dont be afraid to ask questions! there is really no such a thing as a silly questions.

Good luck

I am not a rehabber, but as a rule of thumb, when some one is looking at to buy and then rehab and flip is there a specific $ amount per sq ft they calculate in or ever 100 ft??

lets say the house is 1000 sq ft, is it a general rule of thumb to say $3 per every 100 sq ft worth work calculated in their #'s?

Just curious. I appreciate all your feed back.

The problem is banks want to control the resale process. is there title restriction recorded? most likely the buyer had to sign an addendum or agreement agreeing to those term, You could ask that to be removed but more or so they WONT remove, other option is don't buy the property if it has a 90 days resale restrictions such as Fannie or Freddie properties.

@ Greg,

yes bigger and faster is good but at the end of the day many SFH's will be easier to liquidate much faster without having to sale the entire portfolio if you needed some quick cash. if you owned a hotel or a commercial building you couldn't just cash out if you needed to unless you sale the whole thing with SFH's you could sale one or two individually and keep the rest back in your portfolio.

@ Phil,

The stuff on FCI or other on line marketed stuff is way over price and almost very little discount, some times no discount.

Either relationships or buying directly from private parties.

Bruce,

Welcome to BP. I live in Vegas and invest in VEGAS as well. I don't see much of real real steals out in the play unless you are over paying for stuff. Can you tell me where you are seeing these fantastic deals/steals that employees are buying at the offices and also whats happening in FEB that Vegas market will bounce back? just curious and love to hear your feed back. I have been in this town for years and very active in this market and few other states.

If you look back before the BOOM years (03-07)Vegas has always had a flat market and cheap housing.Most people are in service industry in the town and are living based off tips, income hasn't and was never changed it was only the pricing that went off the proof, unemployment is high and housing is where it really needs to be.CHEAP Housing in the DESERT!

It seems to me as the agent has a brain and like everyone else likes to have his/her days off and enjoy family time. That's shows to me he/she is a professional as long as he/she is up and running and aggressive on weekdays and working hours. Professional people take days off just like everyone else does, the ones that are slaves and working all the time are actually a bit of concern for me because it just tells me they have nothing else going on for them.