All Forum Posts by: Justin Braithwaite

Basic handyman stuff. No plumbing or electrical. 

Hello-

I'm seeking real estate salespeople/brokers with experience working with investors in Nassau county. Can provide POF and initial offers will be sight unseen. Please respond or PM me if interested in discussing.

Regards, 

Justin

Quick question that I am hoping someone can help with...

I got a call call today in response to a yellow letter I sent. It was the son of the deceased homeowner.  The son said that the father took out a reverse mortgage and that after the father died, the son went to court and the judge said that the mortgage company could not take the house. The son had no time to deal with it so he just left it alone. This was 5 years ago. I checked the property records and the mortgage was assigned to another bank, but that is it. The recorded amount of the mortgage is in excess of the current value of the home. Is there anything I can do here or should I just go on to the next opportunity?

Thanks!

Does anyone have a handyman they can recommend in the Bronx, NY. 

Thanks

Got it. I was thinking that the presence of non-paying tenants that need to be evicted would either lower the post-forclosure sales price or increase the length and cost of the post-forclosure holding period. So all things being equal, I'm suprised that the bank wouldn't lower its short sale asking price because the best alternative to a short sale is more expensive due to the presence of the non-paying tenants. Appreciate your input though. Thanks 

I am currently looking at a 4 family short sale opportunity in the Bronx, NY. The zillow value is 450K and it is bank approved for 395K. I want to justify a lower offer price to the bank. There are currently 2 non-paying tenants that are being evicted. What is the rule of thumb for a discount due to each eviction in process?

Thanks a lot