All Forum Posts by: Raymond Hill

Hello Everyone,

I am meeting with a seller for the first time to talk about her options to avoid foreclosure. To be honest its my first appointment as an investor with my LLC. I want to know some tips during this emotional time for the seller. She doesn't have ANY EQUITY and hasn't paid the mortgage since 2012, the person also has a lis pendent on the home as well that is up in the air at this point. She has two mortgages on the home 1st = 190k 2nd = 64k with ARV of about 270k-290k. I know I know this is a long shot, at the same time I want to get better at presenting info and exhaust all possibilities to do my best to help.

Please Advise,

Ray

Hello Everyone,

I am meeting with a seller for the first time to talk about her options to avoid foreclosure. To be honest its my first appointment as an investor with my LLC. I want to know some tips during this emotional time for the seller. She doesn't have ANY EQUITY and hasn't paid the mortgage since 2012, the person also has a lis pendent on the home as well that is up in the air at this point. She has two mortgages on the home 1st = 190k 2nd = 64k with ARV of about 270k-290k. I know I know this is a long shot, at the same time I want to get better at presenting info and exhaust all possibilities to do my best to help.

Please Advise,

Ray

Is it possible to sell your home if you have a lis pendent on the title of the property that has not been resolved?

@Kristian Peter This absolutely helps thank you for responding. Now with the offer I would want to start at 150k or should I have enough to cover the first mortgage and be able to short the second. I have never done this sort of thing and want to know as much options to use as I possibly can. Again, I know the spread is pretty close, the house is in good condition, just want to exhaust all options for me to help this woman.

Hello Everyone

Just wanted to get everyone's opinion on the matter I am facing. I have an owner who has a first mortgage of 190k and a second mortgage of 64k on her property. ARV of 290k. The numbers look tight I know I am just trying to figure out what are possible solutions to buy and flip this home. Obviously she doesn't have much equity in the home and she is going to be foreclosed on in 1 month. Any advice on how to go about this?

@Quinton Slay Hey I am a real estate agent and working with my new LLC to begin our investor journey. I understand exactly what you mean in terms of you significant other not understanding the real estate end my girlfriend right now is doing the EXACT SAME THING. It is concerning for me as well because I always fear that I will be the one that knows how money comes in and she

Hello Jesse,  

Is this property still available?

Best regards,

Raymond

Hello Everyone,

I was wondering if the Massachusetts market close to RI such as Seekonk and Attleboro is similar to the RI market. Or if anyone can let me know what they are seeing out there in the market. 

Hello, 

I just got my LLC up and running and I want to know what types of banks is best to use and what are some of the things to look for when choosing a bank?

@Alexander Zurn

Thanks for your input Alex.

I definitely agree with you on that. I work more in the Providence County and we are experiencing based on what I am seeing a lot of the same framework. I thought, maybe the potential of having the Pawtucket Red Sox move the stadium could have changed things a little bit taking over the Apex building that's collecting dust. But who knows maybe next year when its back on the table. 

Overall it does make things harder to find deals in the open market, but just have to keep searching and calling and establishing connections to find my LLC's first flip.