All Forum Posts by: David Almquist

I am new to flipping.  I am learning to generate cash.  Eventually, I want to buy and hold a few properties a year for long term cash flow and wealth.  

Thank you for all the help and the sentiment. I will do what I can and try my best. I always have.

My Dad has absolutely no equity in the property, nor any assets. He is 92.. so good luck with him. I barely have anything as well.. .. bankrupt and looking for work. So....

Yes, I know the pain and patience it takes about a short sale.. Know better than most do. So thank you for that. We are not making anything for the short sale at all. Only reason was thinking he could get some money for relocation assistance. I love how the banks set the rules. When they fail they ask for a bailout. What chance does the little guy have to collect anything anymore. Should be a lawyer or a banker.. least you'll get paid right? 20K in legal fees? Oof..

I agree, we were a serious team on this. I'm not going to say she didn't earn her commission ( I don't know what's involved on her end.) She has always kept me up to date on things. So, what can I do now? Just go on with the sale , let her get her commission, and what of my Dad and I... absolutely nothing? Just knowing that all my stress over this whole situation can come to a close? Hmmm

The FMV is 185,500. That is the threshold set by FNME..what they were asking .. nothing below this. I also paid out of pocket for an appraisal when FNME said the only way for them to re-evaluate their asking price (was too high) was to have another appraisal done, but they weren't paying for it. At one time the house was so close the sale date , that I had to get Dad out. And his stuff. No sense in rushing him and all the stuff. I had to move it myself. Clear an entire house out by myself and move. Dad (has cancer).. so, didn't want him to get shocked, you know? Yes, my realtor has been very active, but the ball has been bouncing for a long long time with Chase. From one person to the next, then when all the paperwork was in, they called and said someone accidentally opened a modification file , so the account went to mod, then I had to have them re-open a short sale status file again.. finally, then one person to the next again and again. I've been on them like crazy (Chase). My realtor is a great person, and she has talked to me like a friend. She knows what I have been going through for so long. Going through bankruptcy, getting laid off, both parents going through C treatments.. then Mom passed.. I've been in therapy for a while now. Off track yes, I know. But seriously wanted to bring some joy into my Dad's life after losing the place he wanted to keep until he passed on. My realtor's listing just expired yesterday, thus I signed an updated one faxed to her last night. I want her to make good on this, but even is she splits the commission, pays her taxes, what she will make? $3-4K.. I'm at a loss, not sure what to do, just praying about things now.

Thank you for this. And glad to know. Due to the fact that both parents mismanaged and Mom ( no longer living) .. Dad 92 and unable to do for himself, of course he's not going to be living there anymore. I was the caregiver. But when I found an apartment, (as the house was in disrepair) had him move in with me. There is no equity at all in the property, and I guess it shouldn't concern me. But the frustration I went through with Chase (yikes, gotta be the worst to deal with) I was telling him that maybe he could get a little money for relocation assistance ( he is on fixed income of course) I wanted to know my options and if there were any? I guess I will just let it go into foreclosure. Appreciate the advice.

I have been working for over 2 years now to get my Dad's house out of preforeclosure into a short sale status. He is 92. Now that the short sale offer has been accepted, FNME won't pay any relocation assistance because he doesn't live in the property anymore. It took 6 months and working with a realtor. I made the majority of the calls for assistance when it came to questions. I got all the docs in order, I contacted the negotiators. I gave the realtor the listing and, gave her the buyer as well. Now, there is almost 11,000.00 in realtor's commissions on here. But no relocation. I just wanted that for validation for all my hard work! I asked my realtor to contact the investor/buyer and tell him, if he wants the property he will have to pay me for it. Asking 5K cashiers check for me to sign the agreement (I have POA) If not, I will let it go into foreclosure and he can try his luck there. Now, he just built a 2 million dollar (art studio) across from where Dad used to live. He has about 5 homes of family members living up there in that neighborhood. My idea is he will just level the house and start fresh. This a premier lot. So am I wrong in asking this? Also, my realtor is freaking out saying she could lose her commission. I gave her the listing and the buyer .LOL! She suggested, she will talk to him, and even 1,000 bucks is better than nothing. How about half her commission to get this done? Sound good? I need advice please.