All Forum Posts by: Chris Cleveland

Hey guys. I am looking at a couple of great high profit deals right now. One is a lake front property in NW Tarrant county, the other is in N. Oak Cliff.

I've looked at the NW Tarrant county deal already and getting ready to put together an offer. I am looking at offering a 2 year seller finance balloon note, seller is highly motivated and it would save considerable money plus per the agent there has been very limited interested to this point. The rehab on it would be 100k plus and listing would price would leave a spread with around 100k profit. This would be a big project as we would be adding sqft to the house and fully changing the floorplan in half of the home. I am looking for a money partner for this deal as we obviously couldn't get a hard money loan in this situation. If you might be interested please message me and we can go over the details in private.  

A good friend of mine is trying to move a property in Bedford, IN and is very motivated.  I live in Texas however and don't know what type of transactions can be used in Indiana or what the local market is like.  If you are in that area and looking for a property please message me directly for more information.  Maybe we can work something out.  Property is fully renovated and ready to resale or rent.    Thanks guys!

I just started with 25k and HML. I'm flipping. I showed my parents how it all worked on my first one and they invested another 25k for starting the second while my first was in progress. I'm going full on reinvesting all my profits except for a monthly salary to myself. As long as you always work your numbers and trust your team (gc, realtor) there is no reason not make money and do well as a rehabber. I plan to rehab only for the next 12 months to build my capital reserves and then start building a rental portfolio for the long haul. There's no time like the present to start investing in yourself!

@ James McDougal. Keep me on ur list!

Todd S. Great work! I'm working along the same goals so I can finally get 100% freedom from working under anyone else for good. Working on my first flip now in week 2 of rehab, getting ready to make a few offers for deal 2. I'm starting with pretty much the same resources and have a goal to get up to having 2 or more in each phase of the process over the next year. I'm glad to hear that's not an unreasonable goal! What process did you go through in finding your private money lender? I have a couple good hard money lenders in place but would definitely enjoy having a private lender option as well.

So... House in the country near my parents is vacant and has been for several months. I would really like to get a hold of it because it is a nice 10 acre plot. I have done the research and it was scheduled for auction on the 6th... don't know why but it was rescheduled for the 3rd next month. I called the REO trustee and they confirmed the rescehduling and said I needed to call the bank directly for more info. I got a reply from the bank via email stating the following;

"Thank you for contacting Altisource® Residential Reo.

Please be advised that this has not boarded our system yet so we cannot determine your options at the moment. It is still best to wait till it is marketed in Hubzu.com. Kindly check the website periodically for the availability."

Referencing my understanding of the process, which is probably misguided, its very possible that the owner has simply vacated the property but that it is not fully foreclosed on yet correct?   In this case the deed and ownership of the property is still with the owner and not the bank correct?    If this is the case then there are several options available that I could use to possibly get this property am I right?  I know subject to would be an option if the balance is reasonable and the cost to bring current is reasonable.   I know short sale would be an option but I am not sure how that works.  Can anyone explain that to me ?  Are there any other options that I am overlooking?

Obviously to do these options I will have to track down the owner, I am already on top of that.

went ahead and did that as well.  I grew up in the town and know at least 1 person at every real estate office in town. :-).  Very helpful.  Hopefully I get some info back soon.  

house is vacant and the doors and gate to the property are wide open.  My parents said its been that all summer. 

@Michael Barbari.    No. Not listed.    I only knew about it because my parents live 2 lots over.   It's a fantastic piece of land with a good house and great bones.  Just needs a major cosmetic Reno 

Very small town that gets very few foreclosures and probably totals less than 12 auctioned properties a year.  I was just hoping I could use all of these as an incentive.  At the very least I could get information to help me make an informed decision on it.