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Updated over 7 years ago,

User Stats

12
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0
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Paul Samia
  • Chatsworth, CA
0
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12
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New to investing and I have a good deal.

Paul Samia
  • Chatsworth, CA
Posted

Hello, my name is Paul Samia I'm a realtor in LA. I'm also new to investing and I'm happy to tell you all I just got my first real lead and I need some advice!

I'm now sure how to approach the deal.

It's an NOD the owner owns $143,000 is delinquent $8,990 and also has $33,000 in equity.

I want to flip the property but I'm not sure how to buy it. :/

Do I... remember I want to try to flip it.

1) Do a short sale and negotiate with the bank?

2) Give the owner $33,000 to walk away? (What about the bank?)

3) Take over his loan?

Should I call the bank myself? what am I missing/forgetting? 

Should I give the offer to the owner or the bank?

I need to buy it under market! I would greatly appreciate any advice regarding this. 

I'm meeting with the homeowner tomorrow 8/3/2017 to walk through the property, I really don't want to leave without a signed contract, This is a great opportunity and I'm not going to lose it!. Any and all advice would be greatly appreciated. Thank you! 

I want to learn!! I'm looking forward to hearing from you!

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