All Forum Posts by: Javier Perez-Karam

@Brett Goldsmith exactly, a short sale is exactly what I thought it was. this people some have 60% Equity even 30% equity one of them. It makes me feel they have no a full idea of what they are talking about or they meant something else. any way. I appreciate you taking the time to answer to the post.

Hello BP community!

Last week I send out a first round of yellow letters to a list I build of Pre-Foreclosures I compiled from RealtyTrac.

Today I am actually getting a few calls (which has been great) but two people, who apparently have a very good LTV equity ration told me that they are going through a shortsale, so I would have to talk to their realtor if I wanted to get inline.

I was under the understanding that a shortsale was when people were actually underwater... how someone who has a higher equity than what they owe will go through a shortsale? Am I missing something?

One of the people I couldn't talk to much because she didn't want to talk, but a gentleman we talks for a while and he confirmed how much he had in equity, and how much he owed and other offers he has had on the properties.

I am assuming these are not deals, although it's good practice to pick up the phone. But I am questioning now what I understand a short sale is.

Can someone kindly clarify? thank you!

@Gino Barbaro thanks for the input. that was my thought about the place too. The city even has a program in their city website trying to stimulate renewal of certain places.

@Nick G. I thought so. thanks.

What are you thought about Newburgh? I know it's a dangerous place in general, but not everywhere, and likely to be a good opportunity?

hello @Aaron K., I am based in NYC but I am looking to invest in the Hudson Valley area. It would be nice to connect and we how we can help each other. You probably know the place better than I do. But hey, I am willing to come up there for chat. I think there are some good hold opportunities there.

@Kevin Wong thank you for the tip. I am not planning on doing any commercial yet, but hopefully next year.

In any case, I do like to have people on the contact list that I know I can rely on, so I think a mortgage broker, even if it's not for right now, it's a good idea to have at an arm's length.

Enjoy your weekend.

@Chris Mason nice! thank you so much for the detailed explanation!

Nice thanks guys, some good judgement there.

@Sarah ZiehrI agree, and I understand the lender part. I have access and good relationship with hard money and private lenders. I like what you say about vetting the buyers. Can they potentially also help buyers with their own financing?

@Michael Notohaha! but I like "power team" - I use it in my video production company and no-one seems to matter. :)