All Forum Posts by: Steve Babiak

The only situations I am aware of where a re-painting was required was by the Housing Authority for Section 8 tenants, during the annual inspection of premises. If you're not in Section 8 program, Jon is on target; it was a new place, you were the only occupant, you caused the carpet to be nasty - you are responsible for that to be kept in good condition. With the settlement issues, you might find your landlord willing to listen, but the landlord isn't going to be so pleased to do upgrades after a rent reduction, IMO.

The unrecorded second is sometimes placed into a category called mortgage fraud.

Your seller is the one with that trouble, though.

One other expense that is incurred when purchasing real estate, depending on location, is Real Estate Transfer Taxes.

The MLS is really the only thing that knows which listings have "expired from the MLS", so you will somehow need to get MLS access in the area for which you are interested.

The problem with expireds and realtors - how does the realtor end up getting paid? You will certainly need to have a solid relationship with any realtor who supplies expireds to you, so that they can believe they will be compensated.

Appraisers also have MLS access.

Here is a recent thread that is related:
http://www.biggerpockets.com/forums/12/topics/34158-realtor-side-mls-access-requirements

Dick,

In the phila area, there is a service called "Evictions Unlimited" that sort of does this. Also, in Phila, there is a landlord group called HAPCO that has an agreement with an attorney to handle the eviction for members at a discount.

You might benefit by studying those two as models, if you plan to set up this type of endeavor as an income stream.

Jonathan,

Thanks for the clarification. I don't see where the revenue comes in from doing this pre-foreclosure, unless it somehow will allow for closer inspection of the premises by some willing foreclosure auction buyer. I can see where we're trying to make sense out of that, and it isn't making any sense right now.

But as a moderator, he can wipe your post so that your beating him to the greeting dispappears .. not that he would.

Jeff,

After the foreclosure auction, properties become REO, but they won't hit MLS immediately. Keep driving past such houses, and look for a "sign" posted on the door; usually, it is notifying occupants to notify the agent handling matters for that house. When you see that sign, get info from that sign and make contacts.

Oh, one I was watching after auction had a sign on it the last time I drove past it. That was a "Condemned" sign; apparently, after the auction, the house caught fire. That's a bad sign for the owner of that REO. Sorry about the puns.

Originally posted by Ryan Johnson:

Originally posted by Dan O'Connor:

My ideal lead gen campaign...

so drop dead simple (and effective) that it can all happen without me. :cool:

Now really what kind of answer is this? Why doesn't the spam function work on this forum?

You may not like Dan's post, but that in itself is not in violation of the BP site rules as I understand them.

The "Report Abuse" link notifies one of the forum moderators to evaluate the post. That will result in edits or removal as the moderator sees fit - or nothing at all if the post is in compliance with forum rules. And this function does work, you just have to understand what happens behind the scenes.

Originally posted by Jonathan Rexford:

This is interesting. I have seen a course but I have not seen or heard of a person say they actually did this except what the course promoter and what you people have stated. Are you doing Cash For Keys as a revenue stream or as a last result before Foreclosure sale?

Jonathan,
This is for post-foreclosure, before the now-REO property becomes listed. To get the property vacated and cleaned out and without any damage, the bank rep will be authorized to pay some sum. It costs money to legally evict; it costs money for dumpsters to haul away belongings left behind in haste.

Also used by investors who buy at the foreclosure auctions.