All Forum Posts by: Sean Dezoysa

He was in a fringe area of an adjacent county so it would have been a good 2 hour drive to get to him, which is why I was asking a lot over the phone. But you're right, I should have at least put it under contract with contingencies in place.

I just got a call from a guy in pre-foreclosure who was apparently losing everything. I couldn't even call him back because he said his phone was getting shut off. the only details he knew about his situation was that he owed about $60,000 on his $150,000 house. Obviously I need more details than that to help him. he eventually grew frustrated and said he was going to end the call because he didn't know anything and it was making him feel bad.

for the other guys who work pre-foreclosures, what are you supposed to do in this situation? I've heard you could get them to sign a release so that you can investigate the bank loan details yourself, is this what I should have done?

Tim, I highly recommend you check out the book "Winning through Intimidation (It's not what the name suggests)." Just a suggestion

hi, I am working with another wholesaler right now and we may be splitting the profits on a deal. I've never worked the same deal with a wholesaler before so I wanted to ask you how this is typically done.

1. The other wholesaler secured the seller, and I am bringing the buyer. In this case does the other wholesaler assign interest to me, and I assign interest to the end buyer (using separate assignment contracts)?

2. If we do use 2 assignment contracts as mentioned in the scenario above, will there be 2 line items for separate assignment fees in the HUD statement, or just one?

Hi; I'm going be educating a few distressed seller groups on their situation and options and then offer my services towards the end of the event. I plan on finding them through cold calling and mail, targeting the pre-foreclosure list first.

The choice between offering a teleseminar vs a webinar comes down to the target audience. Webinars offer a visual component, teleseminars are more familiar to older demographics.

Have you attempted to fill seats in either of these before? What was your experience? Thanks for any advice :)

Hi; I target an investment area outside where I live and am preparing a mailing to private lenders in that area. I know that non being nearby is a hinderance and am hoping it's not a dealkiller.

If anyone else has successfully sourced private money from far away, did you employ any special techniques for handling the non-local issue?

Thanks

Thank you! What is the advantage (if any) to buying the junior debt at a discount with this strategy? Seems risky to me to buy discounted debt on a house that's going to public auction (ie chance of debt getting wiped out and/or you not getting title)

hello, my local REIA meeting someone asked an experienced real estate investor how to buy a property with bad credit. He responded with several suggestions, one of them the following:

"You can buy the second/third liens for a discount, foreclose for title, and then you're allowed to pay on the first."

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This went over my head. I understand that if you hold a lien against the house, you can protect your interest by paying on the liens above you. What I don't understand is how you can "foreclose for title", I thought foreclosing always forces the house to public auction (and the first position lienholder takes title only if no one else places a bid).

Is it really possible to foreclose directly for title, completely skipping the public auction, with some kind of clever contract clause?

Here's the scenario: A private lender is seeking a mortgage company to handle loan origination for his loans. The private lender has his own list of lendee's, so the ONLY activity the mortgage company handles is the origination.

What's a fair fee to pay for just origination? I've received a quote for 1% + $500.

A private lender is looking to bail out a distressed homeowner facing foreclosure (I am a 3rd party). The situation is very favorable even if it ends up going to foreclosure again--we just need to understand the whole process and expenses involved. This is in the Los Angeles CA area.