All Forum Posts by: Joseph Hernandez

Thank you sir!

Hi. In a non-Judicial foreclosure state, will the sheriff knock on the homeowners door and escort the family out of their property? I'm getting conflicting info. Some say yes, and some say no. Does anyone know the procedure? Thanks. 

I want to know how much you, as an investor pay with the criteria that I posted. $$$

Thanks Ryan for your reply. I used to flip houses, so I am well aware of how to compute ARV. Yes, there are a lot of incompetent wholesalers that under estimate ARV. Given the criteria in my original post, what's the max amount you would pay for the property?

Thanks for your reply Andy. I actually only asked one question: how much would you pay a wholesaler for a cosmetic fixer, 3/2 bath sfr listed at $400,000? I'm a returning wholesaler. I used to target homeowners in foreclosure, in the NOS stage. I'm trying to get a feel of how much an investor will pay for a property with the criteria that I gave. 350k? 375K 390k?

On average, how much would you pay a wholesaler for a cosmetic fixer, 3/2 bath sfr listed at $400,000? Assume the property doesn't have any major problems and there are no issues with the neighborhood. Also, in a nuetral market (neither a seller's or a buyer's market) ?

Thank you all for taking the time to reply to my post. This is my first post in BP ever. I am disappointed from some of the replies. Not one person answered my question: roughly how much under-market will an investor pay for an SFR that's a cosmetic fixer? I know it depends on other factors, but you could have given me a range. What is so difficult about that? Also, some of you are rude. You treat me as though I'm a scared newbie, and mocking me. Stop embarrassing yourselves by acting like children. I'm a seasoned real estate and mortgage broker. I also flipped homes and wholesaled since 1994, but stopped in 2008. i'm fully aware as a broker how to run comps. As a previous flipper, I know how to calculate ARV. I know expenses are almost always higher than my initial estimate. The reason i'm geo targeting all of California is because I want to focus strictly on homeowners in NOS stage, which is a small segment of the population. I have the budget, I have agents under me to JV with me and yes, I am very ambitious. Yes, I know how frustrating it is to work with incompetent "wholesalers." I think the increase is due to the promotion of micro flipping, heavily promoted in sites such as FB, Connected Investors and Property Shark.

Thank you Sam for your input.

Thank you for your input Alecia. 

Apparently you can't read. I said I was a returning wholesaler. I've been out of the business since the 08' crash. In addition, I never said I'm afraid. I'm simply doing my due diligence so I don't waste money.