All Forum Posts by: Brandon E

Michael-
How did you come across that book & who is the author? p.s. That's a Rotty, correct?

Whoa back up for just a second....there's a nice part of Philly??!

The owner hasn't paid the mortgage in 3 months; abandoned his property, with tenants still living in the house.

The tenants are interested in buying the house so they can remain in the property, but are unable to contact the owner or get any info from the bank:

What can the tenants do to position themselves to make an offer once the bank forecloses? Thanks - Brandon

Tom-
I understand what you are saying; It seems like REO's are here-today-gone-tomorrow before you know it.
My agent put in a verbal offer first, waiving the right to inspection, while I had my GC do the "inspection" on a walk-thru....
Probably a bit of a gamble to waive some of my rights, but really wanted to push this deal thru. - Brandon

I've seen buyer agents advertise on Craigslist that they work with investors. They claim to locate cash flow investment properties and great handyman fixer upper flips; Ironically, just as most other agents they don't answer e-mails or return phone calls, but others may find someone who they can deal with this way. - Brandon

Roc-
I agree w/Ralph that the expired listings may not provide good leads for wholesale or sub2 deals; However I think a more practical possibility with these are Lease Options/Lease purchases. That way you can increase your chances by offering much closer to asking price. - Brandon

I appreciate the feedback, thanks;
Turns out the bank is going to allow a DD period after all. I take it that the bank saying those things about "no this and no that" is to scare off people that aren't serious? And to try to find a buyer that won't waste time....? - Brandon

On this foreclosure listing, the bank has clearly stated that it won't allow "surveys, inspections, as-is" blah blah; My question is for the bank to accept, do I have to make an offer with no contingencies or due dilligence?
I plan to get my inspector to just do a quick walk-thru with me but it would be AFTER the contract is submitted; If this is done, would backing out result in anything more than losing EM? Thanks - Brandon

Joe-
Your business plan looks good; it gives a clear, concise overview of your company's realistic capabilities from start-up.
Jon-
I may be stating the obvious here, but I think the reasoning behind Joe doing the investing now and the fix and flip later down the road in life is because of time. Collecting supplemental passive income from rentals now is part-time while he is working;
Wholesaling and fix-and-flipping is very time consuming, so I can see why it would make sense to want to start renting out properties before being able to devote the time it takes to be a full-time investor.
Where it seems slightly "backwards" is that the money to buy the rentals can usually come from assigning contracts and the profits from flips... -Brandon