All Forum Posts by: Brittany Whitney

Thanks Mitch. I ended up walking away from this because of how behind she was on payments. After looking at her mortgage paperwork, the spread was a little better because she owed $138K instead of $150K but still no deal because the foreclosure process had been started. After I talked with my lawyer, he let me know it would be a waste of time trying to do this deal. I'm kind of glad though because I know a lot more about lease option & sub 2 that I didn't know before. Win-win situation despite this not being a deal. :)

Hi all,

I was just approached with a house (3/2- 1680 sqft) that the owner needs to get rid of ASAP. They're 5 months behind & facing foreclosure soon. She said she would be open to subject to or a lease option. My dilemma is that I'm not sure how good of a deal it is because of the numbers. She's behind $8K in payments & remaining mortgage balance is $138K, tax value is $184K, & ARV is $170K. Do you all have any tips on what I should do? I don't have any buyers lined up & this would be my first sub2/lease option deal. Also, I'm in NC & I'm talking to my lawyer on Tuesday to take the right steps, legally speaking. If anyone has advice, I would definitely appreciate it!

Thanks!

Hi all,

I was just approached with a house (3/2- 1680 sqft) that the owner needs to get rid of ASAP. They're 5 months behind & facing foreclosure soon. She said she would be open to subject to or a lease option. My dilemma is that I'm not sure how good of a deal it is because of the numbers. She's behind $8K in payments & remaining mortgage balance is $138K, tax value is $184K, & ARV is $170K. Do you all have any tips on what I should do? I don't have any buyers lined up & this would be my first sub2/lease option deal. Also, I'm in NC & I'm talking to my lawyer on Tuesday to take the right steps, legally speaking. If anyone has advice, I would definitely appreciate it!

Thanks!

There are some electronic fax services available for pretty reasonable prices. I use personally use onlinefax but there are others like eFax, hellofax, etc. It also would be good to sign up for docusign or HelloSign so you can send out your contracts for electronic signature. Hope this helps!

Hi Group,

I have a property under contract right now that is a historic factory built in 1924. It used to be a clothing manufacturer and the owner is looking to sell due to lack of money in completing the project. I would like to gain some insight on the things I should be aware of when flipping this property to an investor. I have details on the numbers, area comps, and market demographics but are there certain conditions I should be aware of or certain questions I need ask the seller before marketing this? Any advice is helpful, thanks!

Thanks gentlemen! 

Hi all,

I'm new to real estate investing and have a couple leads that are luxury, turnkey homes. They're motivated to sell but wont take less than market value since no upgrades are needed & the homes still have mortgages on them. Is it possible to turn these leads into deals? I was thinking lease option, seller financing, or subject to but not really clear on how they work. Does anyone have ideas on how to approach these situations? Thanks in advance.

Thank you Jeanine! 

Hi all,

I am looking for an investor friendly real estate closing attorney that can do assignments or double closings. Can anyone help me out? Thanks in advance!