All Forum Posts by: Shaun Caldwell

How can I find bankruptcy leads?

At one point Realty Trac offered a list of properties that were in bankruptcy. From there you'd have to verify if the Motion for Relief from Stay was ordered by the judge which then allowed the homeowner to sell their property. Realty Trac no longer offers the option to search for bankruptcies leads so I am looking for alternatives. Aside from a list broker, does anyone have a method to find bankruptcy leads?

Foreclosure proceedings have began against a property. No SP# and subsequently no file available to view at the courthouse. Clerk says they do not have anything on the case. Any idea how something like this could happen? Any ideas as to how to work around something like this?

Sorry. I posted this in the wrong forum. Can an admin please delete this?

Foreclosure proceedings have began against a property. No SP# and subsequently no file available to view at the courthouse. Clerk says they do not have anything on the case. Any idea how something like this could happen? Any ideas as to how to work around something like this?

I would prerecord the voicemail with my voice so no bots would be used. I was more so looking for a software program to find and organize the properties and phone numbers not make the calls for me. Direct mail and door knocking have worked very well for me. Here's a tip for door knocking leave a post it note saying "?(owner's first name, this is (your name).  Need to talk. Call me at xxxxxxxxx." Or write handwritten notes and put them inside of a FedEx or USPS priority envelops and place it against the front door of the house. Both have worked well. 

I plan on contacting FSBOs and FRBOs listed online and would like to scrap phone numbers from the listings and contact them via VM using Slydial. Do you have any software that you recommend that I use? What been your experience with the software? 

Full disclosure I have only used creative financing to buy/acquire properties. I do my best to put as little down as possible. I stretch the payments out as long as I can get them. I try to make the payments as low as I can too. Tying up large sums of cash into a single property can cost you opportunities for future deals. Which is my philosophy behind this. That said, some terms that I've had success with include but are not limited to interest only payments with a balloon payment due at some point in the future. No money down... fix it... flip it... split the proceeds of the sale with the seller. I've done semi annual payments where I gave the sellers cash during the holiday season or during the summer so they can take a family vacation. The possibilities are endless. Always thing of your end goal in mind and that will help you formulate a plan. Good luck! 

Anyone know of a good/fairly priced RMLO that is licensed in NC? 

I have a seller lead who has a property within 3 days of being foreclosed on. The seller's account has been sent to collections. Half of the pay off amount is due by the 30th in order to get a 30 day extension. The full amount to settle with the lender is $21,000. Additional fees include $5,000 in unpaid taxes and fines. The property will also need roughly $3,700 in repairs. The seller wants $20,000 in walk away money (I'm confident that'll be negotiated down based on the situation). I've never dealt with pre-foreclosure leads so I am curious to know , at this point what my options are to acquire/control the property aside from paying cash at this point? Any/all feedback welcomed. Thanks!

I am pursuing a lead that I think would appear to make more sense to rent out by the room (8 bedrooms and 4 bathrooms/ based on the community) opposed to selling it or renting to a single family. 

To those who've rented properties by the room, what's been your experience? Both good and bad. What are some things that you feel are important to keep in mind when buying and managing a property like this? Any/all feedback greatly appreciated!