All Forum Posts by: Andre Lozada

@Ed Emmons  @Brett Goldsmith Thanks for replying. Well I wanted to make some money but my exit strategies are quickly going south smh. I wanted to wholesale first but thats obviously out. Thought about lease option but thats out as well because of the low arv vs high mortgage. So now you guys mention short sale. Can I as an investor make money in that process? And does the seller make anything? I don't currently know the as is value. Guessing the arv minus repairs will give me that number.

@Christopher Phillips Hey So I wanted to wholesale it originally but with the accelerated mortgage make it to close to the arv. Thinking now I could have the seller sign an option OR lease option agreement And then sandwich lease to a tenant buyer as-is. Only thing i'm afraid of is the looming foreclosure status. Says on the statement failure to bring loan current may result in foreclosure. Wouldn't want that to happen if I have a tenant buyer there. Payments are pretty low at $544. So I could easily charge $900-$1100 rent ( which is the average for the area. Your thoughts?

Hey all. I have a motivated seller who said he doesn't care about his credit or a foreclosure he just wants some money in his pocket. He has a vacant property 3 bed 2 bath 1190 square feet, huge base and backyard. ARV is about $60-$63,000. Maybe needs $5000-$7000 renovations. property is in Pa. and he lives in NC.  I offered $6,000 and he seemed happy. Problem is the mortgage hasn't been paid in about 15 months. His loan statement says he owes a payment of $9,000 and to bring the loan current he needs about $19,000. Principal balance is $31,000. Accelerated amount due $51,000 (guessing to pay it off early). Whats the best strategy for this deal? Subject to? Lease option? It's my first deal and I have unofficial control so I want to work something out of this opportunity. I also have the keys.Thanks in advance

Hey all. I have a motivated seller who said he doesn't care about his credit or a foreclosure he just wants some money in his pocket. He has a vacant property 3 bed 2 bath 1190 square feet, huge base and backyard. ARV is about $60-$63,000. Maybe needs $5000-$7000 renovations. property is in Pa. and he lives in NC. I have the keys already. I offered $6,000 and he seemed happy. Problem is the mortgage hasn't been paid in about 15 months. His loan statement says he owes a payment of $9,000 and to bring the loan current he needs about $19,000.  Principal balance is $31,000. Accelerated amount due $51,000 (guessing to pay it off early). Whats the best strategy for this deal? Subject to? Lease option? Thanks in advance

So I have a motivated seller who stays in NC. He owns a home in Pa. The property is in pre foreclosure status. The ARV for the house is $63,000. He owes $20,000 to the mortgage company (which he says can be negotiated) and $5,000 back taxes. He said the house needs no repairs, built in 1980. 3 bed 1.5 bath, 1190 square feet. I offered $6,000 (after all back payments and fees) and he accepted.  So i'll put it up for an investor for $36,700 (my fee, sellers cash, mortgage and taxes) maybe less depending on what the mortgage company agrees on. Is this a good wholesale deal?

Hello all. I have a title company that was referred to me. But can anyone refer an investor-friendly lawyer to look over and alter contracts? Thanks in advance

Hello all. Newb question here. I have a lady who wants to sell a rental and she owes 39k on the mortgage with $5k in back taxes. The property is estimated at $117k. 4 bed 2 bath 1488 sq ft 2 unit rental. with one unit vacant ( she says its renovated and ready but admits the occupied unit may need work). The occupying tenant pays $750 which is about $100 lower than the average for that area. Do I factor the mortgage and taxes into the purchase price? Assuming im finding a cash buyer. after that is done will this be a good deal? thx in advance.