All Forum Posts by: Leigh C

@Jay Hinrichs     Money is a tool and has a finite value.    It's easily replaced when needed.   Deals are the life blood of any flipping/development deals and should always get the lion share of the profit if the deals are healthy enough.     

Assuming he made 140k on a 140k investment it sounds like the 140k investment yielded a (140k+140k+120k+50k+repair cost+closing costs) sales price.    Rather impressive to buy that well.    140k purchase, 500k+ sales price.     If you did that for me I'd give you far more than half.    Assuming any of this math is even close you could of done a lot better just wholesaling the house to another investor.      450k as is value at 65% is 292k.      That is 152k for you instead of the 120k.

Congrats on the fat check, you stuck paying taxes on it as normal income or have you figured out a better way?

Had this happen to me also, they got SUPER close to actually getting a 200k wire.   In the end we figured it out before the money was sent but it was SUUUUPPPPEEEERRR close to being lost forever.      In my instance my assistant's email was "hacked" and they were trying to divert proceeds from a closing.    

@Connor Burnett

Plenty of people could supply you with something like that.  

@Alex S.  I hope one day your boss or someone walks into your office and informs you that they are cutting your pay by 50%.    Not because you did a bad job or something wrong, but just because they feel that you should.

@Perla Posadas

 Read posts on this forum the 4 extra hours a week.     There isn't any special pill to swallow in this business or pearl of wisdom that will give you what you need to know.    Most of this business is about being comfortable making decisions and having the correct questions answered which are unique to each house typically.

Read these forums for the next month...then find yourself a "deal" that has 25%+ equity.    Once you have that deal run to your nearest foreclosure sale or reia meetings and partner with an experienced investor.       

@Will Schryver  Once upon a time I worked with Sand Dollar Realty.   I think Rob Arnold the broker charged me like 200/month plus 50/transaction.    

@Steven Mitchell     We are teaching our PMs more so than they are teaching us.    Least in my situation.     

@Nathan Bendler  Entire state, and we have dealt with properties in 3 dozen other states too.    S florida is our weakest market which is why I recently moved down to the keys.     Now that I'm here i realized the margins people are willing to work down here are extremely tight.   My best guess, they simply are bored and want to keep their money doing something.   

Agent/investor that still has foot prints in ocala...what are you needing?

@Sharon Olaciregui

we received the Final Judgement date letter coming up in a week. What does that mean?

It means the lawyers have finally gotten to the point of getting to a final judgement.   You still have to wait for them to set an auction date (at least 45 days i believe) and even then, that sale may get canceled.     

How long can this take until we are asked to move out? 

Your current landlord owns the property for 10 days AFTER the auction takes place.    Before the auction it's anyone's guess how long you have.

Who tells us to move? the court or the new owner once its auctioned? 

The new owner in theory if you are still there.  

I would like to know if we would be given the opportunity to purchase it instead of it being auctioned. 

If you go to the auction you can bid, but otherwise you would need to clear whatever mortgages are against the property AND get the HOA to sell their rights to the property.

I am so nervous because I am ignorant in the field. Hoping the process may take longer. The final judgement date has been set for Dec. 12

You have been able to take advantage of the previous owner's mortgage dragging it's feet while paying the HOA more than it should of received had the previous owner maintained the property. At some point in time the lender is entitled to recoup the property and "hoping" to take advantage of the situation even longer is mighty greedy.

@Nathan Bendler

I wish you lived in florida