All Forum Posts by: Karl Smith

I would like to read the posting on your blog. Could you direct me to the link.

Thanks

Tim and Ryan I agree with you 100%.   Iv'e seen too many in this forum bashing wholesalers. .. If you can provide a service to the property owner by helping get their property sold than so be it.  When people including 1st time buyers (using an agent), rehabbers or buy & holders look for properties they want a good deal or a great deal. Some investors and wholesalers are good at negotiating and some are even better at creating a win win for all parties.

About 10 years ago I had a 3 unit I needed to get rid of ASAP.  After getting a retail buyer who was getting a mortgage loan to buy we signed a contract.  After all most 3 or 4 months of following up with the buyers agent. I finally called the buyers mortgage broker only to find out then that the buyer had been turned down for the loan a month or two before I made the call.   ....did I not mention that this guy (buyer) was using an agent. 

Josh,

getting a 30-50% reply rate is awesome. Would you mind sharing the message that you use in your yellow letter campaign?

Thanks 

It looks as if the mortgage was release because of possible pay off. Questions is did the owner or someone in his/her family pay it off. There was a quit claim deed given on about the same date to a person with a different first name, perhaps a wife, former spouse or another relative.  Maybe the somehow took control of the property at one time.  You may want to ask a few more questions.

I'm sure you'll find the answer.

Regards

Nikki

I had a similar situation here. The agent and a former partner bought some properties a couple years ago. After the partnership broke up he got stuck with one which he didn't plan on rehabbing. He owed some back taxes.  Wholesaled it for the taxes owed  plus my fee.  

Rock On

Brian,

I would also like to have a copy of the recording. i'm sure it would be helpful as I am also looking at a project here in IL and would like to have information on private funds. My email is [email protected].

Thanks

Brian ,

Could yo explain why you recommend not selling on a wrap or sub 2.?  I've been looking for some lease options here in Chicago.

Thanks

I'd be interested in knowing if your suggest is doable Rob. Sounds like a good strategy, maybe so.

Jeorgia

I run into the same issue sometimes on vacant properties.  These properties are sometimes in the foreclosure process and you can't find the owner of record and can't get a hold of the asset manger at the bank contact. It's kind of in between.  So because the property is in some cases not foreclosed on yet the agent can't sell it yet. 

I am also running into the same thing with reverse mortgage foreclosures. Many of these properties in decent if not really good condition.  I am looking at find ways to get to the heirs before the bank starts the foreclosure process in order to make an offer on the property.

Just walk away from this property. There's no profit here.