All Forum Posts by: Account Closed

Hey Bill. These are some really unique ideas. Thanks a million for posting them. Good luck and good night to you too man.

Steve, would definitely be interested in speaking with you down the line.

Steve, if you have some leads in Orlando I would be happy to do deals with you. I have not looked there at all. I have been buying new houses (under 10 years old) around 80-100k that need minor cosmetic work. That might be low for the Orlando area? I can go higher if needed but I want to see around $20k profit if I do.

Roy you seem to have answered your own question. It sounds like the bank can sit and wait for the right offer considering it's in a desirable subdivision. You said you can't find comps and or provide a repair estimate that justifies your offer? It sounds like they already approved the short sale price and rejected a lower offer. In my experience with Florida short sales that is the price the bank wants give or take a few thousand and they will probably get it.

K. Marie Poe. The situation in Florida is the complete opposite then. I bought the last REO that hit the MLS in my area in SW Florida, that was 2 months ago. I made an offer on the only short sale that was worth offering on in several weeks last Friday and there were a half dozen offers ahead of mine. It's booming on the low end. Have to be crafty to get deals now. Trust me, there are not alot of deals to be had I wish that wasn't the case. I would say most major areas in Florida are at 2005 inventory levels right now. Banks are now fixing up foreclosed properties on their own now rather than put them out as distressed REOs now because they know they can get top $$$. Not great for investors like me looking to flip.

South Florida is probably one of the hardest places to find deals in the country actually. Prices are going up and competition is fierce. They are probably down to 2005 inventory levels these days. I am not even bothering investing down there for this reason.

Thanks for the responses guys. I invest out of state, in fact I invest 3000 miles away so makes things a little more complicated. I definitely want to do something more that's for sure tho. Michael your idea about speaking with refi lenders is a great one! That is the kind of the creative out of the box thinking I was looking for. Thanks!

Anyone want to throw me crumb of advice? Lol.

Hi Ned. Well for me short sales have worked out so far and are a primary means of finding deals in Florida. I live out of state and try to find newer homes that will be easier for me to manage flipping when I am not present for the rehab. The market is super competitive and there are very few deals as it is. On the upside if you get one you are pretty much guaranteed a decent profit and a quick flip. So just trying to see how others are gaining an edge with distressed houses in a hot market.

Any creative ideas on finding good short sale opps? Has anyone had luck staying in touch with short sale negotiators or attorneys to get a jump on any new deals or some that fall through with the initial buyer?

What are you doing to get good short sale deal flow outside of fighting for them on the MLS? It's getting old getting into bidding wars on everything I try to get through normal channels.

I would be careful about doing anything to cloud a title. You can find yourself the target of a lawsuit from your seller. Laws on this are going to vary by state so it's important to have an attorney you trust to guide you. I had a situation like this once and I had to pay an attorney in the county where the property was located a few grand to strong arm the seller.