All Forum Posts by: Benjamin Krebs

 Thank you! Ben 

We are looking for cost effective builders that can build multi-unit and SFH that would be good for Build to Rent houses. SFH, Duplex, and Triplex. Please comment or PM me if your company does builds or if you know of anyone that can do this in either Cleveland or Columbus.

Thank you!

 What they owe is not relevant to what to offer. There are basically two bid amounts(Tiered bidding not withstanding) that are established in a foreclosure auction. The first bid you might see is an opening/starting bid that is equal to total debt. That is the only time what is owed comes in to play. If the total debt owed is less than fair market value, the auctioneer will start with that bid and not go a dime over, and still, its not relevant to what is offered. The second bid strategy is one that is a calculation by the lender/servicer that hopes to achieve the least loss amount. Each lender has their own formular but all basically, they calculate a percentage of fair market value that they would hope to achieve, less than the amount owed and will start and stop at that amount (usually), and will hope that any 3rd party bidder raises the final bid to the total debt. 

Value is more important that anything else. What is owed should not be a factor in your strategy. What Caleb stated stands.

Just want to know is it possible for you to get earnest money from a lender if you wholesaling a property?

@Dane Barney How can i contact you? I could use a gator loan

I have a property under contract and am planning to wholesale and double close. I'm still looking for an end buyer but want to make sure I understand the process before I submit EMD..

Once I have an end buyer, their non refundable deposit will replace my EMD, and my EMD will be refunded to me.

Let’s say I don’t find an end buyer and terminate the agent’s agreement  before the end of the inspection period.. according to the contract my deposit will be refunded. Will there be any fees associated with title company??