All Forum Posts by: Eric Foster

Maybe her insurance is still in place. It is worth the call to her insurance agent!

Also since she has a mortgage, her lender may have “force placed insurance” on the property to protect the property.

And yes, you can do a short sale… Especially if the property is damaged with no insurance to fix it!

Good luck!

This is probably not the answer you want…

Was the wood loose before the storm? If so, probably yes since they should have fixed it… Assuming they were aware of it…

If it blew loose because of the storm, probably not as the landlord did nothing wrong and an “Act of God” is not covered by most insurance companies.

With that said, I would tell the landlord about it… If he feels responsible, he may just take care of it.

Good luck!

F3Nelson must have been #4, I was #5 and you were #6… The good news is that this lender is growing rapidly… Their business has doubled today alone!

James… No skin in the game can be done!… I have seen some of your posts about that. I would bet that in California since the values and holding costs are so much greater, that skin in the game is just a must do.

In Oregon and Washington I have done no skin in many times… Well at least before the last several months… I am on the hunt for lenders now… So in today’s world, that may be the case here too now.

P.S. You should be proud! Most people at that point just run and never figure it out…

They are the ones that go around saying “that stuff doesn’t work”!

Never, never, never give up!

Oh.... So you did exactly what everyone does when they start... Waste time and money?...

Good to see that you started off just like the rest of us!

I have found that the 3rd type is the following…

A guy who shows up, puts in an honest days work, does a good job, asks for money upfront, but you tell him NO, he does good work so you give him money every couple days to keep his personal life in order long enough to finish your job.

This is who I found that has been working well for me… Sure I would like it if I didn’t have to give out money every couple days… But heck, if that’s what makes them show back up the next day and put in the hours, I don’t mind paying a couple times a week. For sure it is the less of all evils!

Time... Yes time... That is another good one that I forgot on my list.

Another one that was also brought to my attention today was "the uncertainty of the market"...

So the other two that fall into the "Other" category are...
1) The uncertain Real Estate Market
2) Time

Both also very good!

Thanks for the input!

I can’t say that I have experience with this… But 1 to 3 weeks is not a problem… That would be easy to do.

Welcome to the Group!

There seems to be quite a few people here from North Carolina…

So let me get this straight… An insurance selling, drum playing, real estate investor? I don’t think I have heard that combo before! LOL

Welcome aboard!

You will take a big hit selling the note. Especially on a brand new unseasoned note. Probably like a 20% to 35% hit (discount)…

I would just cash out refinance it, and then sell it on a lease option.