All Forum Posts by: Scott R.

Some other investors i was working with before were doing offers on PRE-Foreclosures by getting the packets from the banks, and giving them way more than they asked for. Pics and all of any damage etc.

Im looking at a bank owned home right no that needs quite bit of work. it was a home a contractor was working on but didnt finish the inside so there is still sheetrock in some areas, flooring, mudding and paint to do in the back area of the home. Now the roof is new, paint outside and siding all new, windows new i mean its just the addition part of the home which was done with permits etc and still needs the inside to be finished! SOO im in california and there aren't many compts out there because its in the boonies. I actually want the home to live in with my family because i love the country. they have had it on the market for almost 90 days without 1 single offer at $150K. I can probably find out how much insurance would rebuild it for for a price but honestly im looking at a good $25K in work.

out here i see many homes going for CRAZY prices. i mean cash offers pulling homes worth in the market $250K for $50K!! I have cash and i already know the listing agent will be a pain because she "thinks" its worth alot...she wants a sale..I know she will mess with me if i offer $60K cash. Is there a way to attach an addendum with my exit clauses to an agents offer WITH pictures? I want to mail in the offer so they can see pics of all the work because these people are human too so if they see a huge eye sore of a property on their books and have an offer finally and all cash close in 15 days after inspections, etcs i think they may just do it. How does this work with a bank owned?

what does the "et al." mean? So basically if i found a home that is in preforeclosure (shortsale) or REO (bank owned) and say to keep it easy, a home i can get for $65,000 under contract and put where my name goes

"Dwight Droze, et al. vesting to be determined in escrow" then say they agree to a Close in 30 days after "inspections" etc. then i can put their name there (3rd person who buys) there later instead of my name and have another agreement with him on seperate paper for a Fee of say $5000?

Yes. Some title companies here won't do it so its better to find one locally to you and just ask them if they do a simotanious close or double close. Get someone on your team and start doing the deals

im looking to buy some normal homes in my area of california but to use them as an elderly care home and hire a company to come in a take care of the people that live there. Im looking for books, web sites, dvds, or audio to start learning. I have seen a few of these homes and they bring in a ton of money. Anyone know if there is licensing or how everything works?