All Forum Posts by: Justin Fernandez

Sounds like a reverse Turnkey! I like it. Interested to hear others input as well. 

@Ed W.

You're right in both posts. I agree with you wholeheartedly. It's like giving profit to your lumber guy, when you build the furniture. When I say JV, for me, it would be someone who's helping me build the furniture. If I have a deal under contract and they bring a buyer or vice versa.

I think we're on the same page here so no back and forth needed :)

Do you have a contract?

If no get one, if yes send the details to your investors.

Do you know the worth of the house? Did you offer your MOA? Are they within your investors buying criteria? 

If you're going to JV the deal, why not do 50/50?

@Ed W.

Shoot an email to [email protected] and let him know I recommended you.  

Call an agent, short sale it. It'll impact his credit but at least you're helping him and yourself (networking). 

@Dev Horn great post!

There's your win win situation.

You'll need to get the mortgage current to do a lease option or else risk the foreclosure, you'll need to know about process for your state.  

Lease option is viable if the condition is tenant ready which doesn't sound appropriate, but if he still lives in the place, when does he plan to move? Are you going to assist him moving knowing he's about 12K behind? What are your other exit strategies?  

Can you keep this guy from getting foreclosed on if you're still researching how to do a short sale?

This is someone's life that you're "learning" on.  I'm not saying you're responsible for how he got there, but are you improving his situation or just yours?

I would just ask Chi Town wholesalers for their email list.  Scrub them against each other and voila!

They will more than likely charge.