All Forum Posts by: Account Closed

Are you guys even reading the documents put in front of you? A standard hud contract (which if you don't fill out perfectly gets kicked back) clearly states this.

a month ago I had a house acquire a new roof leak after i put a contract in play...they kept my deposit since i pulled out (since the house was newly damaged). They don't care.

Btw for those of you trying to wholesale huds, get your title company (best to use a 3rd party) to do a title search BEFORE you start working hard on the property, half of the property i get from hud has some sort of title flaw that needs to be resolved, maybe 20% of them I can't fix.

Wow, i'm a lot softer than most of you guys. Ended up submitting a low offer to the bank, got a decent counter offer from them and got cold feet. Turned around and called the bank's REO department and explained what they were doing wrong. I think if they would of ignored my call I would of been fine to buy it, but the AM i talked to said he was taking action within the next few days.

Agent lost the listing a week later and relisted it at what they tried to get before with the first agent and what I'd consider was BPO value). Property is now pending, not with me, nor did i get the listing as an agent (not that i wanted it).

My father told me when i was little to never disappoint myself and to hold myself to my own standards. I suppose I'll lose a little cash from time to time, but i'll sleep better.

OooOo someone from my backyard.

28 auctions next week apread out over 3 days, if 1 sells to an investor I'd be surprised. If you need someone to attend on your behalf I can help in theory. Use to do it for another investor till it didn't seem cost effective. Give me a call (google my name or whatever)

i'd go to 28k

Kevin, you might want to take a few more courses and build a better base knowledge. Make sure you know how to value a home correctly for your market and try working backwards from a property thats a "really good deal". For your first, don't try to find something decent, find something that screams at you. It's out there....time is on your side at this point.

Awww no fun.

-Preemptive defense, I buy homes all over the north half of florida, so I'm pretty safe from being able to sell this guy anything in the south sections.

With that said, any major city is going to have what you seek, throw a dart and pick one, then contact a few local agents in that area. Maybe do some return calculations and then compare it to a few random cities nearby. If you do this enough something might stick out as a better deal than the rest.

When he said have it under contract and close on the 91st day. He means put a contract on the property, close it with FNMA. THEN put another contract on it with YOUR buyer and close on it 91 days after your deed was recorded.

As my wife puts it, trying to flip with fannie mae "is the suck". I list for them and I've seen investors do all sorts of silly things and i haven't seen anything that I'd want to repeat myself. I only buy from them when I intend to hold it for 90 days before needing to close.

Yes in theory it can be done, but you need to move quickly.

Yeah a quit claim deed is a conveyance document.

You need to put the contract/deed in the LLC/land trust or whatever that you intend to sell it through.

(DEED RESTRICTION YOU SAID YOU ARE RECEIVING)

"The Grantee(s)/purchaser(s), of Property may not re-sell, record additional conveyance document, or otherwise transfer title to Property w/in 60 days following the Grantor's execution of this Deed."

So you want to transfer to yourself via quit claim deed, and hope the title company doesn't see this deed restriction when you resell. I've seen this done, but it's going against what this deed restriction says.