All Forum Posts by: Scott Rogers

But what is the basic formula to figure it out? Not some random number what are the factors?  

How big and where is this property?  I seriously doubt you could do a  down to stud and reroof reno for 30k  but if you can and it sells for 70 you made 20-30k in your pocket after taxes and closing costs, so why wouldnt you?

Yes but you need title insurance to guarantee they didnt miss anything ,its not expensive.  Auction.com will give you free title insurance if you use their closing agent. so I took that deal.  I wont next time.

Took too long, and feel I would have received much better service using a local title company.

Unless you dont really have the funds, I dont see why you cant show proof.  All that is required for proof is a screen shot of you current bank info with your name on account showing a balance greater then the offer and with account number blocked out.

If you dont want them to know your balance your bank manager can type up a proof of funds letter showing a specific amount in a few minutes Monday morning, but they wont do that if sufficient funds are not in the account

No compassion, this is a business not a charity.   Start the forecloser process.

If they wanted/needed help there are charities that would help them especially with the water bill.  Some people just dont want to even attempt to salvage their situation.   Protect your asset. start the forecloser process.

Maybe this will be the kick in the pants they need to get their life in order.

Do your due diligents (flood zone, insurance cost, rehab cost, ARV, existing leans, updated taxes, ect.)
Pay for title insurance!
use your own closing attorney (theirs take forever) ( using theirs. my deal took 9 weeks on a under 25k all cash deal)
Dont get emotional or in a biding war. Know your numbers and stick to that!
Dont wait till after the auction to figure out how to pay, you have a very short time to prove proof of funds.

Keep it professional.

Document everything including photographs and itemized bills for repairs.

Submit him with the bill, If he fails to pay contact his commanding officer that will get the situation rectified!

Do you have another property with that kind of equity?  If so you could hard money finance that property use the cash to purchase new property (refinance and repay hard money)

I wish I could get "last"  but we would remain vacant.  Customary in west Georgia is First and Deposit

I agree with the life proof floating floor. thats what I have used so far. but i doubt you can go wrong with the glue down either. they are both superior to laminate