All Forum Posts by: Dustin W.

I would be interested in sharing the costs of REIpro.

I agree with that strategy if I was confident in finding a buyer or tenant that would not be a problem. But these properties are a dime a dozen and I don't want to be stuck with owning them.

Jackie,
I understand that the lender will want to unload these undesirable properties in bad neighborhoods. I was looking for an alternative strategy (liek cash for keys, lender paying investor on HUD, ETC) and avoiding any purchase and hold where you buy one of these homes and get stuck with it -or- get a short sale approval in the single digits only to never find a cash buyer that WILL close.

The negatives with having you attempt negotiations on these type of under 10k leads:
1) I would not want o pay UPFRONT for SS negotiations
2) I would not move forward in these deals where I acquire the properties without an end buyer. It would need to be a double closing or something else like getting paid on the HUD for cash4keys, deed in lieu, etc.

Hi Jamie,
I have done many closing as you described and I have also acted as the transactional funder for other investors.
I was more looking to see if anyone on BP had alternative strategies to do anything with upside down properties in bad neighborhoods with really low comparables. Like in this instance, where there are multiple sold comparables under $10k and nothing else is really SELLING for more.

I'm looking to find out what strategies are working for upside down properties in undesirable neighborhoods. Especially those like the one here in Milwaukee, that have comps in the single digits(k).

Negotiating a short sale and trying the ABC close it is a time waster...

Are lenders paying out cash for keys for these type of properties?
Or paying for a deed in lieu?
IF so, how much and will it work for 2 family tenant occupied properties?

Thanks!