All Forum Posts by: Bill Short

hello im bill    yes im a newby   i have found a place that is in preclosure   and the lady who owns it has no money to speak of.   my question is is it ethical and leagle to go offer her like 5000 to sign  it over to me   and what kind of paperwork would i need     is there a form letter i could use to write her  to make this offer  

ok and thanks we actuall have a little more cash we can put together   i was just rounding off   and we are going to use the rehabvaluator  to put together a package if anybody has used that before    

thanks for the feedback

my brother and i found a reo and are going to jump in and start doing this as a business  now mind you we have read countless books and seminars.  so we are going to get this place under contract with a 20000.00 down and its a cash deal    so my question is do i contact a hard money lender and ask him for the balance plus the rehab cost    question number 2    does anyone know of a hml in oregon   and the arv of the place will be close to 200000.00 after we rehab purchace  price is 120000.00 so we will need aprox a loan of around 110000.00    remember we are both new and any advice or info will be helpful 

your right i called the realtor and he said that it was already under contract   see i learned that when u see a good deal instead of screwing around id better take action   ive always said that if i learn something every day no matter how big or little    i will be doing good    thanks to everyone that responded

thanks    my home isnt paid for   i have  equity  oh yea im in oregon  if that helps   thanks for getting back at me so quick

ok so i found a place    bank owned for 99000   10000 rehab  arv 200000    these figures are rough as im new at this    and this would be my first flip    so i need info   what to do now do i contact a hard money lender    i dont have any real money   i own my own home  but   do i make an offer to the bank  and if so do i need a pof letter   obviously i need some sound advice    anything will help   im really thinking of just making an offer and go from there but i dont want to be known as a flake  because i plan doing this a lot once i learn more and in order to do that i need help   thank you for reading and taking the time to give advice

my sister is selling her house that is paid off in full    however due to circumstances she had to put it into her daughters name    so my question is is my neice going to have to pay taxes on that and if so is there any way to avoid  it