All Forum Posts by: Xavier Longwa

 Thanks Chris, we're actually looking to use that money to purchase a different property.

Ok thanks. It's not owner occupied and thats the term we're looking for.

Will hard money lender's or any other unconventional lender lend money on equity of a home alteady owned clear and free? If so is it still based on 60-70% of the ARV with the same points and interest set up?

Thanks David.

Can You wholesale a property and still get in on the fix and flip legally? Say by wholesaling to a partner, family etc.. Also, is it legal to get more money from a hard money lender (or PI) for a deal than what's "needed" for purchase and repairs? If so how should that be structured? I'm asking because I've heard of things like monthly expenses, points, and closing costs getting rolled into the loan. Just trying to figure out how to go about it.

did you find anything helpful there at yellowletters.com?

I love your vantage point.. I definitely concur. I was just playing devils advocate, putting my skeptical self in the shoes of the owners receiving a letter from a stranger. But again, I agree 100% thanks!!! @Craig Bellot 

Hey there BP community,

I am very exited that I have recently gotten access to a list of properties (here in CT) that are in the pre-foreclosure stage (i.e they have recently received a notice of default.) Now, although I am a newbie, I have been studying and researching REI for quite some time now and I am trying to make my next move my best move, Like a well thought out chess move :) . Can anyone suggest some BP resources available to help me draft a a good letter, or the best strategies to reaching out to owners at this stage of a possible foreclosure. My concern with sending a letter (or hand delivering it) is I don't have a website or landing page to send them to, to lend me that professional credibility. But I do have my Dad who I am working with, who was a broker and has owned, fixed and flipped/sold plenty of properties with city records for proof. I'm looking forward to networking with real estate professionals who I can build mutually beneficial relationships with here in Connecticut as well as nationwide.