All Forum Posts by: Cody DeLong

@Cara Lonsdale For sure.  We are meeting her tomorrow with contract in hand.  Monday we'll get with the title company and get this done as soon as possible. I have the cash on hand so it literally could be done in 2 weeks or less.  Shouldn't be an issue at all.

@Marian Smith Yes that is what she should do but she isn't going to. If it was not for me she would have just had it auctioned off and been left homeless with no money. I'm trying to do something and help her get money in her hand, a mutually agreed upon date for her to be out (Likely 60 days), and I will probably pay for her moving truck because I am a very nice person. I want her to be very comfortable in this deal and also help her. I'm starting in this business to make money and help people out of the situations they're in. If everyone we bought a house from we told to just put on MLS and the foreclosure would stay then we wouldn't be able to make money. Also this house would not be able to get mortgaged. It is a complete gut job or full demo.

@Cara Lonsdale she is vey much of sound mind. What I'm saying is she doesn't know much about the process as she inherited the house. We did preliminary already and it's the only mortgage on the house with no liens. 

I will say guys I'm now partnering with someone who does similar deals to show me the ropes on the first one. We talked and he's going to help me out with it which is fine for me. I'd rather learn and know what to do when more come up. I just started so education is key for me. 

@Bob B. she has children but I can assure you I'm not. The house is scheduled for foreclosure and it's either she does this or it goes to auction. I'm trying to put money in her pocket instead of nothing and then even worst of a credit score. 

I have cash. No need for any mortgage. 

I need some advice ASAP.  I made contact with the owner of a house that is going into foreclosure over a $10,000 Mortgage.  The lady is disabled, does not have any money besides what the state gives her, and cannot afford a loan at all.  The current payoff after fees and taxes are $23,000.  The land alone is worth $100k in my town, not to mention the structure which does need a full gut.  I will say I'm dealing with an older lady who does not know much about whats going on except that she is losing her house.  She has agreed verbally to selling me her house for pay off plus $10,000 extra to help her start over in an apartment or she may go and live with her daughter.  

What do I need her to do and what do I need to do in order to get this deal closed? Should I get her a contract to sign?  If so does anyone have one I could use?

  I know I need to do a title search and she must call the bank.  What should she ask when she calls specifically? Should I have my title company reach out to her bank?  I'm going to have to walk her through this and deff drive her to the title company myself for anything as she cannot drive.  Please let me know what ya'll think!

this is awesome. Not only satisfying financially but breathing life into an old building has even more benefits. 

@David Marshall I'd love to meet up next week! I actually have a coffee shop underneath my office that we could meet and chat at.  The Proper Cup right next to Starbird Piano on Forest Ave!

@Grant Rothenburger Luckily I can view it all online.  Issue I'm running into is everything is in PDF and scanned in so I may need to go down and see if I can get lists.  Either that outsource to India and have them create a spreadsheet for me.  May do that.

I'm looking to start going to a few options and luckily my state has all deeds, liens, etc listed online.  Im looking at a property now that is showing about $18k in tax liens on it.  I've attached the documents.  In my understanding it means that if I won the property the proceeds would cover the liens and the rest would go to the mortgage.  IE I would not owe anything.  However I want to verify that is correct.  Obviously I'd want to work with a title company to make sure those are paid 100%.