All Forum Posts by: Lisandro Garcia

HELP !!!

Working on taking over a owner - owner rent to buy house

Framework of Orginal deal -

Sale price 59k

Downpayment 8k

Monthly payment 850 for 60 months (5 years)

The buyer ( Nelo ) was on time for 12 of the first 15 months she recently has been going on bad time and missed her last 3 payments . She always didn't make her tax payment last year which was 2,700 and this year she back up on one payment of $800

She contacted me

Asking for 8k for the house and to take control of othe remaining 48 payments which I thought was fair .. Here where it gets tricky

I went ahead and contacted the owners of the property and they informed me that the contracted with the buyer (Nelo) was voided and that she was going to be evicted from the property and that they would be willing to work with if I paid the 3 months she was backup and also paid the back up taxes but her the part which I didn't like they told me if I wanted the property they would start the 60 months over again . I don't find this right and not good business the buyer Nelo has invested over 18k in this property . Which they said she doesn't deserve nothing because her contract was voided . Lose 18k for 2700 of missed payments and back taxes doesn't seem right and is not good business

The was definitely a deal breaker for me. What should I do the house is great value and it can be a money marker for me in the right situation . I was willing to offer

850x 48 months

And pay the back taxes and also give Nelo something .

What do you think I should do and what can Nelo do in her situation ? 

What's up BP, seeking out advice on a situation my business partner and I are currently in. We have a probate property under contract to wholesale which will end on the 7th. We found an end buyer but here lies the problem: We recently found out that there's a $60,000 judgment that has been placed by a nursing home on one of the administrators on behalf of their mother who passed. The house isn't worth the $60,000 and the attorney was contacted to negotiate but would not cooperate. Me and my partner want to help the sellers resolve this situation what are our  alternatives ??? 

I sell properties cash in Camden I personally deal w people who have multiple properties in Camden . Camden has its rough spots and it also has its good spots east Camden and carmer hill are gold mines in Camden  you can find great deals ..

going to show a property I have under contract tommrow it's a big spread .. How do I keep the buyer and seller away from each other ? I don't want my buyer to back end me because the spread is so big ... I was considering buying te property then selling it ..

So I have been looking at a property for about 6 months. It was first priced at 45k which I thought was very overpriced . Giving that it's next to 2 vacant properties and is in a B area of rent value (Imo) anyway the property's has reduced to 30k and it's still on the market I was considering making a low ball offer of 15-18k  . I don't want to go to low but also I feel like the bank wants this property off there hands ASAP .. Any advice on what should I do ? Thanks in advance 

I'm based out of Camden New Jersey 

@Justin Silverio postcards ...

M

@Ibrahim Hughes what service do you recommend for a direct mail campaign ?

thinking of doing a direct mail campaign i have been doing expired mls listing and probates I'm thinking of doing taxes and absentee owners next .. Anybody has any advice on a company  I can use for the list and the actual mailing campaign ? 

I'm getting back into the game starting off wholesaling lost a lot of capital in my last business . If you were restarting today what would you focus on ?