All Forum Posts by: Dustin Phillips

Hi Kelly,

I have not used these companies but they come from a very reliable source in MD... You will have to look up the numbers:

Elite Settlement services- Jeff Shiller
Stonegate Title, Bob Brendel

Good Luck!!
Dustin

Hi Renae,

What is your investment strategy. Buy and hold, wholesale, rehab and resale... This will be important...

To answer your question above. Putting properties under contract is really the easy part. Getting them at a great price is a whole different game.

The best way to deal with REO's is to get access to the MLS... Find a Realtor who is okay with you making really low offers and understands your investment style... Or you can double dip, and just contact the listing REO agent directly and tell them that if your deal gets accepted they will get both sides of the commission.

Getting private money is not really hard as long as you know where to look. Try your local investment club, or join the Hard Money group here and see if you can get your deal funded.

Investing is not hard, but you must be prepaired for it. Educate yourself as much as possible and talk with local investors to learn your area and what is working where you live... Good Luck!

And not to take up too much space here... You are right about assigning an REO-Thats not going to happen, but there are ways around this (Double close, LLC, Add your buyer on) But seasoning is not an issue if your buyers funds come from the correct source! Good luck...

The only time flipping is illegal is when you are defrauding a lender. Therefore, make sure your buyers are cash, and if they are not cash then make sure they are using bank funds not regulated by fannie may or freddie mac. e.g. a portfolio loan. You basiclly want the lender to understand what you will be doing and have them create a loan program for you.

As for this Realtor, I would say they just don't understand investing, most people don't. I would just find a new agent or ask them to tell you where you can find info that its illegal... The secret is there isn't any place.... Learn from people who understand the business (this is a great site for that) and apply what you learn...