All Forum Posts by: Delmar Bennett

@Patrick Philip Buy this Book "The Book On Estimating Rehab Costs". by J.Scott 

@Corey Smith Wow I get it, it all make sense now!!!!! Thank you so much for sharing with me!!!!!!!!

Thanks for clearing that up @Tom S.

So @Corey Smith that 5k delinquent does that mean the seller is behind on their payment in a total of 5k? or is the 5k delinquent is a down payment on the 50k mortgage?

Also who is downing the refinancing, the seller or me? And why would you do a refinance in this situation?  

@Keith Weigand Good stuff man, where are you getting these leads from? I am planning to use listsource.com to target absentee owners. 

@J Scott @G.A. Miller 

What do you mean by a 70% deal? Can someone explain that to me. 

@Corey Smith so if I try to get a contract for $40k the seller would not make a profit in this scenario correct? And if the mortgage is higher than the MAO, you mentioned that I would negotiate an owner's finance, can you give me an example on how the owner finance would work?

@Laura Alamery

so, if there's no equity I will have to do a short sale. Can you please tell me how does that process work? Should I contact the seller's mortgage lender to do the short sale or would the seller contact the lender to go through this process? Also would this hurt the seller's credit score? 

Hey guys I am just getting started into Wholesaling and I wanted to know how do you negotiate a deal if a house has a mortgage on it? If someone can please give me a scenario of how to deal with a house that has a mortgage, that would be really helpful to me. Thank you.