All Forum Posts by: John Kent

@Jean-Thierry Aleman Jason is correct www.hudhomestore.com has the most up to date info on HUD properties. The property status is reflected there before the MLS. You can setup a search on the website to receive e-mails each day. Then you will need one of us HUD registered agents to submit your offer to the HUD asset manager.

REO properties are bid on once they are listed in the MLS or on one of the online auction websites. You can also view GSE REO properties on HomeSteps.com and HomePath.com. You will still need an agent to submit an offer for you. I recommend finding a knowledgeable investor friendly buyers agent. 

@Luis Menendez the commission split is unrelated to the quality of the training. Talk to each broker and ask about what they offer for training. 

@Michael Hunter I am in East Central Orlando. Agent and investor. Feel free to connect/PM.

 You have a vote from me kind Sir as I used to work at a flight school and, as a result, greatly appreciate your humor. 

@Allende Hernandez the lender will not talk to you directly about the short sale. I am a local agent and can help if you decide to go the short sale route. There is a process involved and the seller's lender in most cases require an agent involved to represent the homeowner. 

From the limited details provided, taking the property subject to would be a problem because the property is in foreclosure and therefore subject to the Florida Foreclosure Rescue Fraud Prevention Act. Of course since I am not a lawyer I cannot give legal advice related to this law so I will just tell you that if you are taking a property via lease option or subject to and the homeowner is facing foreclosure you should know details of the above mentioned law. 

Yes, the mortgage and close makes sense if the repairs are minimal or a renovation loan is used. 

BTW if you are going to close on the property why not short sale it if the As Is value is close to the mortgage balance? This may create a better deal. 

Closing? As in paying cash or getting a mortgage? Or taking over the payments sub2? If Sub2 make sure you understand the Florida Foreclosure Rescue Fraud Prevention Act. Otherwise, buying outright, doing the repairs, then selling on a lease option looks more like a buy and hold deal. Make sure you do the required level of due diligence. I would do the lease option with an annual escalator on the purchase price since our market is appreciating steadily.

@Allende Hernandez doesn't look like a wholesale deal to me. The chances of you selling your contract to a retail buyer are very slim. A double closing would most likely be in order. Find out what the As Is value might be. If the As Is value is low enough then this is a short sale deal.

When it comes to end buyers they are only serious buyers if they want the property. Let them in and let them fall in love. Then weed out the ones who can't close. 

If you need local boots on the ground that is something we can talk about.

@Devin Pugh try USInspect. Can't comment on a discount and you probably don't want one when home inspections or appraisals are concerned. They have a copy of the report they use on the website. The inspectors that I have used locally have been very professional and their reports high quality. Even in my 2 county service area prices vary from area to area.