All Forum Posts by: Daniel G.

Originally posted by Skylar Howard:

Danny
This was the property you were helping me on, I think. Move date scheduled for August 12, I will only be about 3 hours away.

Oh same one huh!?! I havent been by there lately...
I should be picking some good ones up soon in that area and throughout Broward. If you want bulk, I can put an order in for you, but it will take longer since it will be under a million.

Cant wait for you to move down this way...3 hours is better than however far it is right now :mrgreen:

Originally posted by J Scott:

Check out TampaSteph's blog:

http://www.flipthiswholesaler.net/

This is exactly what she does for a living...

I agree! Great content and she has a good handle on this REO market! :mrgreen:

OPT - Other Peoples Time!

I utilize everyone else to find me buyers. All my business is based on birddogs. I used to occasionally put out road signs, but I quickly developed a method where I constantly have people bringing me deals and buyers!

Not to say I am to good for putting out road signs, I have just been able to create a method in compensating others to bring me deals....basic strategy for investors!

By the way, just let your buyers know that you are a wholesaler and you have access to great deals and let them know that they are listed, but you get them at a rediculous price and are able to sell to them at a good price. Plus, you are the one that is basically locking it up for them to take advantage of the great deal they are about to purchase! Assume that sale my friend....learned that from Tommy Hopkins a long time ago...

Find out the cap rate for both bldgs and find out the cap rate in the area. See if they match up. The higher the cap the better, but you also need to see whats going on there if the cap rate is very high.

I would also see if the buildings are in one tax parcel or several. This can be a great technique when you wholesale. If its under one tax parcel you can use that as a selling technique to end buyer in which by seperating them into different tax parcels, this alone raises the value significantly.

There are many other things to think about when flipping multifamily units because your end result is giving your end buyers value in the bldgs!!!

Much success and keep us posted on the flip of these multi's!

Originally posted by Skylar Howard:

Yeah, I think I will wait. I have also thought about the idea of asking for a reduction of at least the penalties and interest. Thank you guys.

HI Skylar, ya I would just wait on a property that has no liens on it, atleast back taxes. I know you buy bulk, but I see that you are buying a lot of QCD. I have access to warranty deeded properties in bulk. Of course, we need LOI & SPOF. Let me know and I will take care of that for you. We already have 2 buyers submit their LOIs & Hard POF and they are on the platform for an order.

Hope all is well! Give me a call...

Originally posted by Joshua Dorkin:

Always check our directory of resources (link at top of page and individual links on the left of the forums). We've got a link in the FORECLOSURE RESOURCES section called Asset Management REO that has some of what you're looking for.

I can certainly say that this is an excellent resource to contact asset managers. Great link, thanks Josh!!!

Good luck!

Not sure, I was just browsing their website last night...www.bearstearns.com

Are you looking for a different name?

You can rent the property out while you are negotiating a short sale. You must make sure that you have all the proper paper work in place especially since the new laws came out on Oct. 1st. Contact an attorney that can dispute the foreclosure process giving you access to continue to short selling the prop w/ the bank and cash flowing that puppy with the homeowners authorization.

BTW- when renting back to homeowner, be VERY careful. You are in a grey spot due to titling yourself as either a 3rd party investor or a foreclosure rescue consultant.

CASH IS KING! so are contracts....make sure you have the right ones in place!

Happy Investing!