All Forum Posts by: Account Closed

Go to your local REI club and see who they use as a REI savvy attorney. Even a "real estate attorney" out of the yellow pages may be basically conventional in his thinking, and not really know about the more creative approaches to buying and selling real estate.

Chris,
If you are planning wholesaling, you might do better finding the sellers yourself through targeted marketing (direct mail, bandit signs, etc.) than working with agents. The agents are good for getting to know an area and the market prices, and getting inside listed homes to be able to know more about the properties in areas you like, but they really don't want to waste alot of their time, so they tend to push you to get "pre-approved". Most agents will give you "one free ride", meaning meet with you to show you one listing or some properties. But if you are expecting them to continue showing you, and spending time and money doing so, they want to know you are a qualified buyer. If you are not a qualified buyer in the conventional sense, then you need to try to buy unconventionally - through creative financing techniques like sub-to, lease purchase, owner finance. Or, just try to find motivated sellers, find good deals, make low offers and wholesale them. Good luck, Mike

Spencer, since you are knowledgable, could you explain: is it worthwhile to:
1. Contact a pre-foreclosure owner who has a 1st and 2nd.
2. Get them to sign the necessary paperwork allowing you to contact the lenders.
3. Contact and pay off the 2nd to create some equity.
4. not be able to deal with the 1st for the short sale, but convince the 1st to reinstate the loan, and buy the deed sub-to.

Does that make sense? I was thinking of ways to go into a short sale without having to get a loan. Thanks, Mike

I wonder if New Orleans really grew that much. Probably was skeewed a little by the people who left after Katrina, then came back?

Also, I get some of my books on Amazon.com - they have a section to click on for used books, so you can buy them for like $5.00 plus shipping.

Hello and welcome Tyler,
I used to live in Bellevue not far from you - that's a great part of the country. And, I have heard that values have not gone down much at all, unlike most of the rest of the country - all those Microsoftees, dontcha know.

So Jason, should he Google "Cheap Russian Website Freelancer"? :D

Start out checking to see if their market value is correct. In many areas market value is going down monthly. Look for recent solds in that areas. Call a Realtor and discuss values in that area too.

Just because they are vacant doesn't mean they have foreclosed already. In my area owners frequently decide to bail out, and walk away from the home. I look up the tax assessor website and see if they have a change of address listed, and also look them up on 411.com or whitepages.com. and then see if they will work with me. Good luck, Mike

Hey Timothy,
You are going to be very busy if you are doing all that in July! How are your goals coming? Mike