All Forum Posts by: Steve Babiak

If you're paying attention: I too like this idea. I think it is something that could be placed directly beneath the "awards" area. The site already has the ability to list all users that are online, so this could hook in with that capability.

Of course, nothing is perfect - including this idea. There are users out there (me being among them) who do not shut down the browser and do power down computer; they would seem to always be online as long as the site is up and running, and the network stays in connected state between user and BP.

Visit the Groups on this site, and look for the Probate Investors group. You might be able to get free training information from those folks.

When you create your offer, one of the terms of the offer should set a deadline for response or acceptance of the offer. The deadlines I use depend on who is receiving the offer; for a regular homeowner, I use 3 to 5 days. For REO, it depends on the lender and the listing agent; some will respond faster so I keep those shorter, whereas others need even more time.

If the lender gets wind that the defaulted borrower has vacated the premises, the lender will see to it that the property gets secured to protect the collateral backing the loan; this is usually permitted by wording in the loan documents.

Now, if you think somebody at Wells Fargo actually can identify that there is a set of keys somewhere in their possession, and find them so that you can get in ... well, let's just say I wouldn't be surprised if they re-key the place after the foreclosure. After all, the realtor will need to get in to allow showing the place when it becomes REO.

Priscilla,

I see you have this status:
"Status: Need a private or hard money lender ...."

You may want to try Rich Weese for ALL of your funding needs; he is now spending more time in FL, so that might make it even easier.

The total numbers for the county where I go are a bit lower. About 450 total; morning of sale about 50 left. on average about 15% bought by parties other than the foreclosing lender. That percentage seems similar to what you mentioned.

Since the lenders are starting to discount more heavily and more frequently now than what I had seen previously, that percentage may start to rise.

Has reading the topics i posted helped you to decide whether to get licensed or not? I'm curious to learn.

Guys,

Thanks for the accolades and votes.

All too often, variations on the same question comes along, and the answers vary from time to time. So collecting them together gets the varied viewpoints presentable in a way that newer users will find most useful - at least that's my thinking.

And Josh, you may recall that I had something like this mentioned in a PM to you - where it would be great to have this type of collection for the most frequently asked things in each forum. Imagine Nick pulling the Sub2 topics together; Steph or Ryan doing the wholesaling topics; etc. What a wonderful world it would be. :)

Sara, welcome to the BP site.

The concern I would have is on the life expectancy of furnaces. Average life expectancy is given at around 20 years (see link below), and you know your used ones are already more than halfway there. If you have better than average items, could be a money saver; if you have below average items, you could be spending more on the replacement labor than you wish.

If the landlord pays the heat, many newer furnaces are high efficiency so that you could gain energy savings with new models.

http://www.pillartopost.com/home-repair-cost-upgrade-guide.aspx