All Forum Posts by: Cary Donham
Cary Donham has started 1 posts and replied 61 times.
Post: Vandalism before? or after Trust deed sale?
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
I think this would be covered under your insurance policy like Jon said so make a call to your insurance company after you speak to your attorney.
When you close on a property at a title company it takes them a few days to file the deed too but it's still your property from the day you closed and you have insurance coverage on the property from that day of closing.
Post: How to find out of state buyers?
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
What part of TX are you in?
Why not look up the real estate investment clubs in CA and other states who are actively seeking to buy in more stable markets like TX. I have sold many properties to investors in CA.
You might be able to advertise your properties through those associations and on their website.
Post: my 101st post and my intro post, + a little rant, from S.E. PA (near Phila)
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
Ditto
How does the influence thing work on here? It's probably on the site somewhere and I just have taken the time to read it yet.
Post: Investor real estate agent Vs a Reg agent
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
Thomas - you can go to your local real estate board and tell them you are an investor and would like access to MLS. Here in Dallas they give us an associate membership meaning we can look at comps but not listed properties.
Well that's great if you are trying to evaluate an area to come up with your ARV on a given subject property. But if you are wanting to use MLS for buying REOs then you would need an agent for full access to listings...... just some food for thought. It all depends on your buying strategy.
Post: How do you find properties to rehab?
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
I do basically what Karen Parker and Matt Kearny do. I buy directly for distressed home owners. I can't even count the deals I've gotten right off of Bandit signs on the street corners that say "we buy houses" or "sell your home in 48 hours."
Post: Paving Stones
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
Originally posted by Dean Powers:
I like this idea Dean!
Post: Hello From Elk grove California
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
Welcome Sam!
Originally posted by crosswind_:
We never list a property that we are purchasing through short sale. When a lender requests to see the listing agreement we supply a document that states that the property is not listed due to the fact that a buyer is all ready in place. We have had a few lenders question it, but after talking to them, they will allow us to slide. (It also helps when you have a track record with the lender.)
The more professional your documents look, the more serious a lender will take your company. Corporate Letterhead will make all the difference.
James
Thanks for that information! I have only done a few shortsales so I'm not an expert in this area.
Originally posted by crosswind_:
Find in your local area an investor that is performing short sales and making money. Take them to lunch and ask them about what they do. Explain that you are "new" and are able to pass along some properties are that in need of a short sale. Further explain that when you send them over, you would like to be paid for the lead upon close. If you have the desire to learn about the short sale process, ask for them to assist in the training along with you supplying them leads. If you don't want to learn, just come to some type of agreement of the amount of pay for the lead. Put together a contract between you and the other investor. Put everyting into writing.
This is exactly what I did when I started investing in real estate.
As for the agent thing - Some mortgage companies will tell you they won't even deal with it unless the property is listed and this was the only reason I said you need to have a licensed agent specifically for those deals. Maybe Motiv8td has a way around this...
Post: This house confuses me....
- Real Estate Investor
- Dallas, TX
- Posts 63
- Votes 19
I would have the house inspected as Jon mentioned if you not sure what to look for but you would need to step foot inside to get an idea of what's really going on. May have some serious problems that can all be overcome by buying at the right price.