All Forum Posts by: Brandon Lancaster

@Ian Reeves- Thank you For Taking the Time to Help Clear this up for me. Its Somewhat funny but is Great that Because of @Chris Mason, @Jay Hinrichs & Yourself Ian, I was Really Able to Put It All togethor. Also Thank you Mike D'Arrigo, Although i must Say this Confuses me a Bit, I Beleive your Speaking of a Different Loan from Fannie/Freddie bc the Statement sounds the Opposite as the other Terms (Being, the Other Loans from them you need at Least 6mth seasoning & Sounds Like your saying with the Deferred financing Program you Must Act BEFORE 6mths) Ill Look into this.

Thank You Everyone for your Help

Hi Alan,

I am 33 yrs old with 18 years in Residential Construction. Primarily with Brick, Block, Stone, Concrete, Foundations, Water-Proofing, Tuck-Pointing, Repair Work.

Also Many years Indoor Experience with Tile work, Drywall, Painting, Trim, Etc 

I have All my own Tools as Well.

I have been Studying R.E.I for 18 months or so, and Live in the Downriver/ Southgate Area.

Just found a Deal today in Lincoln Park, the Owner States its a 5 home Package though (havent seen the other 4 homes) and im not sure I could or would like to try to fund 5 homes on my first deal.

I Also have completed my Pre-Licensure Course for my Residential Builders License and will be taking the Exam ASAP.

I Beleive i can Add Value in Various ways in different Scenarios.

Im Extremely Dedicated to Making Sure my R.E.I Future is a Success & have never been afraid of hard work to reach my goals.

Thanks for Everyones Input & Responces, I Appreciate All the INFO

When I first asked my Questions I Really Had No idea ...

1.) If the home owners had Accepted an offer and Signed a Binding Contract 

2.)I Also Had No Idea If a Realtor Was involved And/or If They Had Signed an Agreement Togethor.

Had I Known Either of those things I wouldnt have asked the questions I did, & how i did .Therefore My Questions would have been perceived quite Different. And just to be Real about it i was kind of panicked thinking my meeting Could determine weather i got the deal or Not. And Would've been my First Deal on My Own.

Although What Led Me to Ask the Questions was because the owners Brother ( Which at the time I thought Was the Actual owner of the ptroperty ) And the GrandMother Both Told Me "ITS NOT TOO LATE TO PUT A BID IN "

I Perceived this as the property having an offer but not Yet Accepted BUT since I Felt Something was off with the info I Received I asked Questions Out of "Worse Case Scenario" NOT KNOWING the Legality ,or ANY Legal Issues I May come across , So I Was looking for those Answers/ Not Looking to "Steal" A Deal,though it may seem that way. I was Seeking info to find out if it was Legally possible to " PUT MY BID IN" & If Cash Changed Anything. Because Honestly it may sound Stupid but i thought It could be possible that b/c i was an All Cash offer & it was Higher then the original ,Would they still "HAVE TO" Accept the offer? And I got my Answer.

And to JAY HINRICHS. When i stated the Realtor did Nothing. I said it only to state that I didnt Find the Deal Due to ANY of their Work, So I Had a Clear Conscious about Seeking answers to "The Possibility" of Legally Working without one.

But i also Stated 3 times Now i didnt have an issue working with one, I just wanted answers to weather We Could Decide Not to , Legally.

My post May have Sounded Cuthroat by Some of the Responses i received, But it fully wasnt intended to be.

And Yes What i ended up doing was Asking If She Accepted and Signed an offer? If she Signed an agreement with a realtor? 

And If it doesnt end up working out,  This is my Offer , Here is My Card.

My Intent Firstly Was Not to Break Contracts With Agents to Help ME OUT.
as in DUALLY Stated #1) I Felt If it was A FSBO It would Help HER Out & myself b/c of having the upside of HER SAVING Money & In return being More Intere3sted in my Offer. Also #2.) I Clearly Stated at the end of my Post that I had No Issues with KEEPING THE REALTOR on Board, and that im Just seeking advice &/Or Options & Possibilities IF LEGALLY POSSIBLE to "Unbind her to a Deal She may no Longer Have Interest in as I Would be Giving Her More Money, And Much more Upside with my offer ( Saving HER Time, Money, Worry of Deal Falling Through, Being Rushed out of her Home With a Deadline, and Another Offer i was going to Entertain with her If Interested is My 18 Years Experience in Working on Homes + Having a Builders' License , Would Be of Extreme value to Someone Buying another Home that May Need Work that i would do for Pennies on the Dollar for Working With Me.

WIN WIN FOR EVERYONE. LIKE I STATED,  IM NOT JUST TRYING TP CUT REALTOR OUT AND IM WILLING TO USE THE REALTOR / IM NOT PAYING THE FEE SO DONT MAKE A DIFFERENCE ON MY SIDE. Im an Honest, Genuine ,Fair , & Hard Working Man that isnt looking to Step on Peoples Head to get where im going.

But her Realtor did NOTHING to help her get this Offer, I Approached the Home Not Even Knowing it was for Sale...That Being Said , Of Course im Going to look for an Advantage with my All Cash Offer in the Neighborhood I Grew up In to raise My 2 Yr old Daughter in a Safe Neighborhood.

That Alone is Worth Paying Realtor Fees!

I SIMPLY was Looking for a Way, If Possible to Put in MY OFFER

Simple As That

I Need Creative Ideas and/ or Suggestions to Stop a Transaction from Happening and Close this DEAL,  ALL CASH ASAP.

So I Recently Found a Home I want to Purchase All Cash. but the Home is Already in Pending Status & Now Says (on Zillow) Taken off Market.

I Stumbled upon the Home Because i was in the Area Biddding a Job. 

Long Story Short I Find out that they Already Have an offer & "Possibly" have Accepted an offer (though i was told by owners brother i could still put in an offer, so IDK)

My Questions are , if she has Accepted an offer on the property , But Feels my offer is More Attractive can She Change her Mind and sell it to me All Cash??   instead of Waiting on the other Party to Get Approved for Loan? ( if they arent approved already) 

Also Part of my Strategy to Making my All Cash Offer even More Appealing is to "Somehow, IF POSSIBLE"??? Release her Realtor from being involved and by doing so FSBO (For Sale By Owner) She will Save Approximately 6% ? Realtor Fees, Plus Another Approx $2K in Closing Costs

Asking $73K 

Minus Realtor Fee & Closing Costs They Should Save Around $7K

Now We're At Around $ 66K  

I Also Would Allow Her Extra Time to Move out without the Rush, And She would Receive Money Much Sooner.

Im Meeting with her in 2 Hrs!! & NEED to TRY to Get Creative Somehow/if Legally possible?? AND CLOSE THIS DEAL.

(Ill Keep Realtor in Deal If I Must, I Just Felt That was a Bonus for Both of us If Possible.)

THANK YOU FOR "ANY" HELPFUL INPUT,  IDEAS OR SUGGESTIONS !!

First of all Id Like to Applaud You on the Design Work and Execution as Well, Good Job.

When I Read & Seen this Project , You & Your Abilities / Goals I Feel Align Quite Similiarly With Mine, Though Im Not A Designer Or Architect , I Had An Art Scholarship & instead of using my Creativity on Paper Iv Always Chose and Felt it was More Fulfilling to Apply my Talents to Building.

I Have Been in the construction industry/Profession Since I was 13 & im 33. With that, Iv had the Luxury of Obtaining a Very Wide/Vast amount of Experience & Knowledge. Also i am due to Obtain my Residential Builders' License ( Iv Already Passed the online Pre-Licensure Course, Passed the Application Process, but Have Had to Re-Schedule My Final Exam Date Twice  due to Unforseen Things in My Family & Business & the Extra Amount of Time that Has Taken.

Yet All That Said, I Test Next Month & am Very Excited to Do Just What You Have Done Here, Find Projects that have potential but need "The Eye" of an Artist/ Architect , & the Skill of an Experienced & Dedicated Contractor/ or a D.I.Y.

But this isnt about me, You obviously deserve the Attention Here , i just Wanted to Share a little about me as I WILL BE DOING VERY SIMILIAR PROJECTS IN THE NEAR FUTURE & ALTHOUGH IM FROM THE "DOWNRIVER AREA" /Wayne County/S. of Detroit, ID LIKE TO TAKE MY INVESTING TO THE CITY & FIND THE OPPORTUNITIES THEIR.Iv been Studying the City Lately.( Im Curious to where the property is located,Approx,& if you want to P.M instead thats great,if not ok too)

Maybe One Day we Can Hook-Up/Talk/ Meet & Possibly Partner up on some Projects in Near Future. As i feel i can Add Value in several Ways, And I just Really Feel your Style & Back-ground Collaborated with Mine could be a Great Fit.

GREAT JOB & KEEP UP HE GREAT WORK

Hi Melissa, 

The Auction i was in was Ending 24Hrs from My post Date, And there were Simply Too Many Houses & I Did not Have Them Narrowed Down Enough as the Auction of 6,800 Houses Closed .

Although I Learned A lot throughout the  (Online Tax-Foreclosure ) Auction process, This Part/the " Legal Land Description + Matching it to a " plat Map" Really shook me and ate up Most all of my time Trying to figure this out ,As people/the County were "selling an Address" only to find out it was a Vacant piece of Land next to the home that they hadn't paid the taxes on.This was Frightening that i would purchase Something a Home only to find out it was Not a Home at All.

ANYHOW , I WANTED TO GET BACK AND THANK YOU (though this seems alot of work for 1 home when looking at 100s-1000s to Analyse) Wish there were a More Accessable way for the public to match up these "Legal Land Descriptions" Rather then Feeling as if your "Bugging" an Agency for their info..Esp if for Several different properties.

I will be Entering another Auction in a Week or so & (Although i will really need to narrow down my interests to use this method) I AGAIN AM GREATFUL FOR THE INFO & WANT TO THANK YOU SO MUCH, I LITERALLY COULD NOT FIND ANY, UP TO DATE,  LEGITIMATE RESOURCES,HOPEFULLY THIS WILL HELP NEXT TIME :)

Currently in an Online County Tax Foreclosure Auction 

I Cannnot figure out how to FIND THE CORRECT "PLAT MAP"(?) for a Specific Area, So I can use the Countys "Legal land Description" ( Put 2 and 2 Togethor) And Make sure i know what im puchasing.

(they make it clear you are not purchasing the Address Given )

You are Purchasing a Parcel I.D # & Legal Land Description.

I Simply Cannot Find the maps to Use with the Land Description..  (you'd think they'd be available online since its an Online Auction with 1000s of Properties.)  

Thank you for ANY help with this.

I'm Currently in a Wayne County MI Tax-Foreclosure Auction (with never have doing this before it has been a lengthy learning process & yet im sure i still have little Knowledge Compared to a Pro, & that is Aquired in this Process.

Im doing All the "Due Dilligence" I Know to do thus far,  but with the Auction Ending in 48hrs , & 6,800 properties Available...

There is ONE THING that is STOPPING ME IN MY TRACKS.

These Auctions Say 'You are Purchasing the "PARCEL I.D # , AND the "LEGAL LAND DESCRIPTION"...NOT the Address Given !

I have somewhat of a grasp on the parcel I.D

Yet I Cannot Figure out  ' HOW TO TAKE A"LEGAL LAND DESCRIPTION" AND FIND THE PLAT MAP (??) THAT IM SUPPOSE TO USE (obtaining to that area) TO READ THE LAND DESCRIPTION FROM AND MATCH UP TO MAKE CERTAIN OF "WHAT" IM PURCHASING>!!!!  

Again I Cannnot figure out how to FIND THE CORRECT "PLAT MAP"(?) for a Specific Area, So I can use the Countys "Legal land Description"  & Put 2 and 2 Togethor.       (Map & Description)

PLEASE IF ANYONE KNOWS THE ANSWER TO THIS AND ADVICE I THANK YOU IN ADVANCE IT IS VERY MUCH APPRECIATED

As I Have ALOT OF TIME (& MONEY) Invested in this Process , with 2 days to Figure it out.

Thanks Again