All Forum Posts by: Francisco Medina

@Pratik P.

Hello, Pratik. 

Had a question for you. What would you use to get a deal under contract?

As is contract for sale and purchase?

California residential Purchase agreement with assignment addendum?

Appreciate your insight.

Thanks

Jay Hinrichs Thank You

Sean Dougherty, Thanks for the insight

Brett Goldsmith,Thanks for the input.

Hello, Everyone. 

I have been researching SUBJECT TO, and what Ive notice is that most subject to deals are done with properties that have little or no equity. 

Is SUBJECT TO possible with high equity properties, and how would that be structured? Pay off the default amount to bring the loan current, and also negotiate more cash for the sellers equity?? I realize that it depends on the condition of the house.

I was searching a Pre foreclosure (NOD) list, and found a house. I would think someone in this position would put it on the market, but they have not. Maybe it needs major work??

02/03/2021 NOD

200k-ArV 

72k - Mortgage balance

$14k -Default amount

$1,000 - Approximate monthly payment (mortgage, tax)

 Also, is SUBJECT TO still possible when the NOTICE OF TRUSTEE SALE has been filed??

Thanks In advance for the insights.

Thanks for your input Robert.

Hello BP,

In my previous post I mentioned a property I was looking at for my first flip.

I've been talking to some lenders, and i was wondering if I should have them sign a non compete form before disclosing the address???

Any thoughts??

Thanks

Hello BP In my previous post I mentioned a deal I was looking at. I've been talking to some lenders, but I was thinking if I should have them sign a non compete agreement before disclosing the property address?? Any thoughts?? Thanks

Hello Everyone, 

Long time reader, First time poster.

So I may have a deal in line, here is the info.

Arv- 350k

350k x 70% = 245k

Repairs - 35k

Funding 6% = 14,700

Target Purchase Price - 185k/200k

Quick facts

No mortgage, owned free and clear (Thinking owner financing)

I will be doing all the contracting (Licensed Contractor)

I will be selling the property (Licensed Agent)

So When it comes to funding, I spoke to my commercial landlord about possibly putting the money up. I offered 6%. 

I had a question in regards to the loan. May seem like a rookie question.

If I were to rehab the property and found a buyer in 30days, during the next 30 days (escrow) would I still have to put up the 2nd month 6% payment?

Also, any suggestions on how to structure the deal.

This will be my first flip, any insight will be greatly appreciated.

Thanks

Thank You for the Welcome Everyone, I'm going to check out the recommended articles.