All Forum Posts by: Ken M.

If we can get the husband to agree to sell, the foreclosure company said we may have some options to extend if we need to.  But I believe I've found a partner and private lender to purchase.  There was an appraisal done about 8 months ago, its not a guess; it appraised at $850k.  It obviously won't happen if there are liens etc. that keep the deal from making sense.  I don't do risky, I have to know what I'm getting into.

 Generally I'd agree and I'm sure they only show the successful ones, but the idea is still good.

Hi. Completely new. Never done before. I have a house that’s been vacant for  about a year. Owner died. Bank took possession of it. Most likely going into foreclosure. What I’m wondering is can I get a private money lender and go to an auction and bid on a foreclosed house? Or if it doesn’t go to auction but is a foreclosure can I get a private money lender for purchase? 

There are a two realtors in the Seattle area who do this-they had a HGTV show.  Basically they take a house that isn't selling-pay for the renos, then split the profit.  The owner gets their original list price, realtors get their reno money back, anything else is split 50:50.

My friend is going through a divorce and their house is about to be foreclosed on.  They aren't speaking and he's still in the house.  She's asking me to buy the house to save their credit and is asking me to talk with her husband to see if he'll sell to me.  However I don't have a down payment for a loan but I do have good credit.  Also I'm not sure if I would buy and immediately sell or flip.  Its a 2800 square foot house that needs some pool work and dry rot but most likely nothing over $20k.  Although it could use some rehab in my opinion.  The house appraised for $850k but I'm assuming in this market would go for $750k or maybe even $700k due to the repairs that need to be done.  The loan amount is $380k and the property taxes due are $20k.  So with closing cost/lender fees and all, I'm assuming about another $30k?  So a total of around $400k? Unfortunately its suppose to go to the courthouse steps in a couple of weeks and I'm sure there will be a bidding war at that point.  If I were to hold it to resell or even try to rehab and sell, houses are sitting on the market for over 100 days and the holding costs would probably be $4k per month.  I need opinions and possibly an investment partner.

Question, has anybody used Park place Finance? I have a deal with them right now that was supposed to close today which is not happening. I have 42 years of investing under my belt. Have quite a few LTR properties and good credit. Decided to try a different lender for fix and flip

@Ken M. Sometimes you need to create documents quickly or want to understand how the court views certain legal matters. AI is more efficient for summarizing past legal cases

@Ken M. There are specialized AI for legal matters. One should avoid ChatGPT for this purpose 

I wanted to share a recent experience that’s stuck with me—not because it was a big deal financially, but because of how it reminded me why I got into real estate in the first place.

I was contacted by a homeowner who was just a few weeks away from foreclosure. She was in her 70s, widowed, and had been quietly falling behind for about a year after some medical issues. She’d been too overwhelmed to open the lender’s letters, and by the time we spoke, the auction date was already set.

She wasn’t trying to sell. She wasn’t looking for an investor. She just didn’t know what to do.

Instead of talking deals, I asked her a simple question: “What would a good outcome look like for you?”

Her answer: “To stay in my home, even if it means starting over.”

So, I connected her with a friend who is in foreclosure rescue, he helped her gather the needed financials, and walked her through the loan modification process. Long story short: it worked. Her foreclosure was postponed, and she was approved for a new payment plan she could manage.

Here’s What This Taught Me:

• Impact > ROI sometimes. Not every win is about cash flow or equity. Sometimes it's about knowing you made a real difference.

• Homeowners in distress need education more than pitches. Most people don’t even know loan mods or hardship programs exist.

• There’s a place in this business for empathy. And honestly, that approach builds more trust (and referrals) than any direct mail campaign.

Just wanted to throw this out there. Have any of you had similar experiences? How do you balance helping people in tough spots with keeping your business sustainable?

Would love to hear your thoughts.

Hey BP crew,

Curious to hear your thoughts — especially from builders, small developers, or homeowners who’ve actually done this.

In my market (Atlanta), I’m seeing more owners — and some builders too — testing the waters by listing before they feel 100% “ready.” Sometimes it’s finishing touches that aren’t done, landscaping halfway done, or the staging isn’t final yet.

On one hand, some get offers early and win big. On the other, I’ve seen it cost them money because buyers just can’t “see” the vision.

I’m wondering:
 Would you ever list before you feel the house is 100% show-ready?
Why or why not? What would it take to make that a smart move instead of a mistake?

I’m asking because I see so many great homes lose steam because timing + prep didn’t line up — especially with new builds or major flips.

If you’ve done it, what happened? Did you regret it or did it pay off?

Curious what the BP crowd thinks — drop your stories!
I’ll share a wild one I just saw last month in the comments too.