All Forum Posts by: Account Closed

Would especially like to hear from those who have tried both with uploading and using your own mailing lists. Which one did you like to use now and why?

George P - good point!

Damn Rich, that's something I had been considering as well - the time window is much narrower here in TX to get a short sale to go through. However, Im also hearing that banks are taking a long time to actually foreclose on property, so maybe there is still a chance?

I know a few investors here that have had theirs go through. Come to think of it, I think one guy I know has had each of his go through to be accepted.

Probably even more so - because as long as someone is making payments, the bank is probably less inclined to "deal".

A few questions about doing short sales in Texas.

- How early do you need to catch a seller before the foreclosure process starts in order for there to be time?
- If the seller has received notice of default, is there still time to do a short sale?
- If the seller is already 2 months or more behind in payments, is it wise to use money out of pocket to catch them up if the bank demands that before a short sale could be approved?

Would like to hear from anyone having some luck at short sales in Texas, as ive not done any yet.

Im a newbie also, but its been my experience so far networking with other investors, that the banks dont budge much below market value, at least not here in Texas.

Maybe a silly question - but is there any risk in asking a realtor for comps - if they are investor savy, then they might jsut attempt to swoop in an buy the property out from under you?

Thanks, that's kind of what I was thinking as well. For me, at least, if there is very little or no equity, then the only real option I'm considering is a short sale.

Im now starting to look for properties, and I wanted to use this post as a way to review the "process" of doing a wholesale deal. So here goes...
- I find a potential deal, do the research/comps etc and it is in fact a potential profitable deal.
- Put the property under contract
...this is the stage Im still a little unsure about next

Since I already have buyers lined up looking for properties in my area, do I just go ahead and fax over my contract to the title company so they can pull title right away - or wait until you know who the buyer is and youve assigned the contract.

Thanks Jeff, that sounds like some good advice, especially for a newbie like myself. I just now starting to look for properties. So was it the 170K number which the banks were buying at? Also, I suppose when you went ot the county website, you were able to see the new owner as being the bank and that told you it was the bank buying at that inflated price?