All Forum Posts by: Stan Jackson

Are you saying that your friend has a short sale approval and it was changed? I've never had nor heard of that happening before, but then again anything is possible, especially with BOA.

If BOA increased the approved value then, basically a new buyer has to be found.

As far as the 2nd, if the short sale closes, then the 2nd is wiped out. At least this is how I understand it. Others will chime in.

On one particular file I had, the 2nd actually purchased the first causing the homeowner to start over and renegotiate with the new primary.

What are the details of the property, you may be able to find a buyer here on BP?

What are you doing? I know you are looking for listings, but for what purpose? Are you trying to buy and hold, wholesale etc?

Did the realtor(s) give you a reason for not providing what you request? And the reason you are not getting your requested item could be because of what you are doing.

Also, when you say you are wanting listings, do you mean Active Listings are Sold Listings?

Sup Adrian?

I just had to point how being young is a great thing.

You said you've been lurking around this post for quite AWHILE, but.... only a member since THIS month!

It's cool though, good luck and make that money!!

Well to BPO Bryan!

Just curious, are you the same Bryan Matheny formally a mortgage broker?

Stan

Find a mentor that is local. Basically someone that will fully advise you on your options then let the final decision rest with you and not have a biased opinion.

Where are you from?

You may want to start here:

[LINK REMOVED]

Find a club close to the market you are interested in investing in, network with the members and you'll be able to get a very good idea how to formulate your buying/renting plan.

Thanks,
Stan

WAIT, HOLD ON, .....they are not the same? I can't tell! LMAO

Well, law and bank policy should at least be in the missuse thread
http://www.biggerpockets.com/forums/25/topics/60082-most-misspelled-or-misused-words-phrases-on-bp

Which brings to question, what is the purpose of the SAFE Act now requriing lenders to give a copy of the appraisal to the borrower?

Is the appraisal certified? From my experience, the appraisal are electronically sent to the lender, so only the appraiser has a true paper original. Pretty much like to rest of the loan process!

AMEN on the HOA fees! I too have had trouble working with the associations attorney. I also learned from talking with title companies and searching Florida law that HOA's are well protected and many are broke. So, trying to negotiate lower fees is almost impossible. Especially with the attorney, because the attorney generally abides by the commands of the board and has to be paid by the board, so it's probbly not going to happen. The attorney doesn't want to lower their fee and the broke board cannot afford to lower their fees.

Now, depending on who actually bought the properties from (HUD or a GSE), you may not have to pay as much fee as being quoted. I think there is a limitation of 6 months.

Here's a link to FSS 720

http://www.ccfjedu.net/HOAFS720new.htm

Of course, I'm not an attorney, just ripped by one or giving legal advice.

Stan

I couldn't believe I forgot about the camera, probably the most important of all.

So, what are some of your prospecting tools, equipment and unique items do you carry in your vehicle? I find every day my truck is getting pack more and more with stuff.

For instance:

Standards-
A ladder so I can quickly look into the attic area.
Small tool box with standard wrenches, pliers, screwdriver etc
Regular 30’ tape measure and electronic tape measure
Briefcase with contract, MLS sheets
Lock boxes
Door knobs

Slightly Unusual-
Compass, believe it or not
Bolt cutters
Mounted laptop to access the internet for on the spot research

Soon, I will be using my box truck as my pov, that way I can immediately board up the property when I have a contract on it.