All Forum Posts by: Joey Hernandez

Thanks @Andrew Postell. I can now see why that method doesn't work.  

How about distressed VA loans? Do you know if Listsource or other resources can connect a VA buyer with people that need to unload their inspection ready property before short selling or foreclosure?

@Chase Stocki

Did you make a deal with this strategy?

Did it work out for you?

Hi Adam, did you ever find a good general answer for Annual Expenses Growth (%)?

Hi Colton.  Get any traction on that?  I just starting looking in the Spokane area for meet-ups.  Thanks!

I made a Scope of Work and the budget is approaching $40k for the rehab, and the current comps for the ARV specs are making the deal really thin. To make any profit, I'd have to find lots of costs savings, bargain selling commissions, and hope for the market value to go up....I probably should skip this for the my first project.

@Casey Spivey, the listing agent emailed this to my agent telling us I'm the highest bidder.  He must not be a poker player.

"The seller will be requesting Highest and Best offers, most likely due on Monday. Your offer is the best thus far. You can respond to the request via the homepath website. If your client makes any changes just enter them into the system and I will create a new contract if / when your offer is accepted.

Has your buyer looked the property over pretty thoroughly? If not I suggest he do so between now and Monday."

Thank you @Tahra Wright.  I got a response that my offer is the highest so far and to put in my best and final offer by Monday.  I'm nervously excited.

Thanks @Robert Greenberg.  I'll update the results here.

I made a solid offer on my first fixer upper SF house in Bremerton, WA today. It's an REO reverse mortgage foreclosure and my agent had to do a bit of convincing to the listing agent that the private money from Patch Of Land is as good as a Hard Money loan. Since it's been listed for over 90 days, I offered 4% less than asking, even though the HUD guidelines say they can't take lower than full price...my thinking is that it's a better offer than they'll get when lowering it 5% at 120 day on MLS.