All Forum Posts by: Eric Trostle

@Pandu Chimata - They are title companies I use on a regular basis for title work/closings so they just send me the lists as they come through. You could talk to the title companies you work with to see if it's something they provide or if you haven't established a relationship with any specific companies you could talk to various title companies to see if they offer that service. They dont all do it so you may have to ask around a bit...but let them know you are looking for "notice of default" or "NOD" lists to help homeowners avoid foreclosure. the title companies don't have any written agreements for me to sign but its more like you scratch my back and ill scratch yours.

I don't use any websites to track stats but I like the idea of this!  We get our foreclosure data from 2 different title companies(I believe they get their data from each counties recorders office and also listsource)  I have them send me everything for the 4 closest counties to me.

check out this recent article by Matt Faircloth to see if it answers you question about LLCs

The Pros & Cons of Using a New LLC for Every Property Purchase

Congrats Michael! Your accountant may be able to get your LLC set up before you close on your property and then you wouldn't have to switch it over. As far as next steps stay in touch with your Realtor...he/she will be able to guide you through the due diligence process and get title work going. If its currently being rented you can ask the seller to provide profit/loss statements along with a copy of the tenant lease agreements, etc to make sure you are buying what you think you are :D

Hi Matt! I’m with Ascent Real Estate. It’s a laid back but very supportive. If you are looking for a brokerage that’s more investment oriented then check into William Hochstedler, he has an Equity franchise up in the Logan area. The important thing to remember is that you are interviewing the brokers. So find one that fits what you are looking to do and what the splits are. I personally am at a flat fee brokerage but splits may be worth it to you if you find value in the benefits/support you get by paying more to the brokerage. Feel free to hit me up anytime on here or by text, email, or a good ol’ fashioned phone call 😀

Originally posted by @Jerryll Noorden:

aahhh a wholesaler. 1st thing to know. BP has a passion for hating wholesalers. I love it!

2nd.. due to wholesaling did I get that push to now do flips, happy to say I am now about to do 2 flips at the same time. Thank you thank you

3rd. I friggin HATE HATE HATE HATE HATE HATE wholesaling HAAAATE!!!!

4th Do it right, and you make money quite quickly.

5th, I can not STAND wholefriggen gatverdame pampa ka boeler wholesaling!

6th, Be honest, to your sellers, buyers, agents, your dog, kids, especially your neighbor!

7th, Get a WEBSITE, NOW!

I accept thanks, in form of amazon gifts!

Congrats on your two flips! 

i get emails with ones if your interested i can forward them to you

Originally posted by @Joel Owens:  Would you be willing to share your PFS document or give some insight on what info you like to find out beforehand?

I do commercial but when an investor contacts me the first thing I do is send out a one page PFS statement to fill out.

I want to know their capability before we even jump on a call. If a buyer wants to remain a mystery they go BYE,BYE.

If they cannot give me the courtesy upfront to show they are real then we do not proceed any further.

I have had some people make a big deal about it that were worth 1 million meanwhile I have had others worth close to 100 million give me the PFS right away.

PFS and bank statements a broker/agent will generally take you more seriously when they know you have the money.

I don't think I know how to tag you all in one post but thank you Joe, Stephen, Brian, and Rachel for posting and the insights.  It seems like a slight shift in mindset is needed from my normal Realtor role but not much :D

I imagine you already have found one by now but if you want to check out options for future transactions Michelle Campbell and her team at Stewart Title in South Ogden does excellent work!