All Forum Posts by: Ariane Randolph

I would advise you to contact the local Realtor Board in your area. They will be able to answer the federal rules surrounding the tax credit and inform you of any state/local incentives or programs - if any. They also will be able to help you find a Realtor, if you don't have or don't know of one already, that can assist you in finding a home. But most importantly, your local Realtor Board or an individual Realtor should talk to you about being preapproved before they show you any property. This is important because the mortgage person is going to have the most knowledge on the best way to use the tax credit, based on your unique financial situation. You can check the National Association of Realtors website to find your Local Realtor or just Google it! I hope this helps.

Ariane

What's AM?

Hi:
I was wondering if anyone had any insight on ways to benefit from doing BPOs? Like having knowledge of the status of these properties, or something like that!
Thanks,

Thanks for the Information. This is great stuff, I want to try this in my market. I actually just did a Google search for "finding fannie mae reo" and This thread came up #2 in the search results.... Way to go Everlasting! I will keep you all posted on how it works out for me here in Northeast Florida.

Read the Blog Article just posted "Property Wholesalers - Know Thy Market".

Great article. Thanks!

This property consists of 12 units, 2/1, currently no vacancies.
The asking price is $569,000. The annual rent is $86,400, with listed potential rents at $90,000/yr. The units are 3 quads and deeded seperatly.

The property was recently renovated. The seller is a licensed real estate agent willing to accecpt the following financing: contract for deed, owner financing, private, may pay some of the closing cost, wrap around, conventional, and FHA.

I have some questions/comments:
1. Is there an advantage of contract for deed, owner financing, vs. wrap around?
2. I was reading some other post, and someone recommended asking for "Principal Only Mortgage", any thoughts on that?
3. Based on the info, is any more information needed to provide some feedback?
4. Where should I begin?
5. I need assistance with financing the potential portions not held by the owner. I will need a preapproval letter, for the showing appointment?

Any thoughts, comments, or questions; all are welcomed and appreciated. Thanks!
:D

Thanks!

The Short Sales Riches System is promoted by some guys out of Tampa, Florida, Chris McLaughlin and Nathan Jurewicz; I have the course with like 3 CD's. I have not completed any short sale deals yet. However, I have joined an Investor's team, as one of his real estate agents; and I have two that I am working on for owner-occupants (one under contract for the last 4 months).

I was wondering if anyone was using it, heard of it, etc. If so, how has it been going?

I will keep you posted on my progress with these transactions.

Thanks,
Ariane :D

Hi:
You can preview 10 properties per week, or when ever and call to let them know about the properties.

Also, if you are working with investors, you can preview properties within a certain price range or meeting a certain criteria and call with that info.

With the distressed property market - You could make calls to family, friends, and associates saying " As a community service, I wanted to let you know that I am here to assits. I would not want you or someone that I know to be in that situation and not know that I was available... something like that.

you can also see your communication in terms of "conversations" vs. "calls" so you could shoot for a goal of 25 new conversations per week, give your card to everyone, have your elevator speech, and when you approach someone to give them a card, say like in the grocery store or something, you could say "Excuse me would you be affended if I gave you my business card", ... that is going to allow them to let down their defenses, and more than likely open up communication.