All Forum Posts by: Phil Z.

It doesn't give you extra room.  I'm just saying if a seller calls you with a deal, and a quick desk calculation looks like a 80% deal .. its worth looking at because you might be able to make it happen at 70-75%

 Your way off.  They own the property because the borrower missed mortgage payments and they are trying to salvage loses.  They list properties for what an appraiser or their agent say it is worth.  In some cases one or the other can be way off.. its just an opinion.

It's all about Marketing.

'Convincing' a lender that a low offer is the highest offer a buyer is willing to pay, then turning around and selling it for more can be illegal.  I suggest that if you are wholesaling, you should not be 'negotiating' directly with the bank.  If you are a listing agent, you should also not be aware this is going on.

Because you can negotiate down, or maybe the repairs are less, or the property has a higher ARV than expected. In that case, 80% - repairs may be worth looking at depending how much you know.

It's very simple.  They don't own the mortgage and they get paid for 'servicing'.

That's the root of the problem and why the top-levels don't seem to do anything about it.

The other issue is man-power and corrections.

There is no hard money lender that won't qualify you prior to purchasing.

You should thank your realtor, and start looking into off market wholesaling until you have capital to purchase.

"75% - REPAIRS" for flips is worth looking into.

You can do a Reverse Mortgage short sale if it's as is value is less than the mortgage.

You need to do your own valuations unless you realtor is a skilled investor.