All Forum Posts by: Joseph Hernandez

Thanks John, I appreciate your comment. However, I respectfully disagree that the vast majority of homeowners in foreclosure aren't in denial. Although I am a newbie wholesaler, I have spoken to roughly 30 people in foreclosure. Most of them make statements such as, "I'm not in foreclosure," or they flat out deny they have any problems. Furthermore, I read that death, divorce and foreclosure are the 3 biggest stressors in life. As you may know, people are equipped with defense mechanisms that protect them from trauma, and denial is one of them. So, i'm searching how to get homeowners in foreclosure out of denial. I know it's not easy, but there must be a way. I want to specialize in working pre-foreclosures. If I can get them out of denial, I can help more people. 

Thanks Kevin, good feedback. Do you know how to get homeowners in pre-foreclosure out of denial? Also, at what point do most of them get out of denial? A few days before auction day?

Thanks for your comment David. I know that each rehab is different. But in general, If you purchase a cosmetic fixer, do you want at least a 200k spread? In other words, if you buy the property at 250k, are you looking for an ARV of at least 450k?

Hello. A little birdy told me to stay away from targeting expensive properties in pre-foreclosure stage. The reason given is because these borrowers have other options that don't include selling their property to investors. What other options? In your opinion, how much is the maximum property value would you target? Thanks in advance.

Thank you Cortney, that's great advice! Can you please explain what you mean when you stated: be sure to remove that person and any future ones from your buyers list.

Do you mean when I file the memorandum, I should include the names of all the investors that inform me they will show up to inspect the property? Do I state my wholesaling fee in the memorandum?

Why even use an investor? Why not purchase the property using sub to?

how can you prevent the investor from not talking to the seller? The investor has to inspect the property. I can't demant the seller to leave. Furthermore, how can I prevent the investor from knocking on the door at a later time?

Thanks Aaron!

is a blind hud1 legal in california? 

I have a wholesale foreclosure deal. The homeowner wants investors to bid on his property and he wants to go with the highest offer. How can I prevent investors from going behind my back and dealing with the seller directly? I realize that it's impossible for it to happen, but what procedures can I take to reduce it from happening?