All Forum Posts by: Soumya Brijesh

@Account Closed Thank you for Sharing. Great Job!! I loved your strategy using 0% credit cards. I am curious about how long will it take to revive your credit scores back to original i.e. after you have paid off all the balance. 

Thank you @Crystal Smith . I 

@Brett Goldsmith or anyone here,  Do you know of any other creative ways of obtaining a short sale other than providing all cash or conventional loan. I was originally thinking of lease option which you mentioned is not possible. I am trying to understand of any other avenues of not putting all cash on hold.

Thanks @Brett Goldsmith . I believe it was listed with an agent. The seller was talking about delisting it with the original agent. 

Hello Pro Members

I am in talks with a motivated seller who has listed his property listed as a short sale.I am still unclear on how the seller owes on this property.

The property is in Downtown SanJose CA and a great location. 

This asking price is $420K.

The ARV should be around $460k. 

Repairs of  $8000k

I am hoping to get some advise on how to structure this with the seller.

I was thinking of approaching the seller with these two options :-

1 ) Pay all cash for $355k. (I doubt if this is a good no. that the seller or the bank will accept.)

or

2) Lease Option at $425k for 5 years with a payment of $2000 monthly. I am hoping this would atleast cover their mortgage payments (i don't nos. of their monthly payment.)

I am more interested in option 2 as I intend to use it as an AirBnb Rental.

My question:- is a lease option even possible, since the property is on Short Sale. ?

Thanks

Brijesh.

@Sean Richway I sent you a PM. wanting to finance. Let know if we can sync up? 

Hi Alex R. Good job with the come back. How are you acquiring these properties ? Thru MLS Or off market. How are you factoring the ROI ? Is it after all expenses ? If yes what is the percentage are you factoring for repairs/capex/ property mgmt ? Lastly what areas are your current investments ? I was looking last year and the realtor kept showing me properties in homestead area. Brijesh

Congratulations!!

please send more details to [email protected]

hi Michele,

Please Send me more details on this at [email protected]