All Forum Posts by: Jason F

The only problem being having the money to buy them and finding people with the money to buy them from you. Everyone is finding cheap houses right now.

There has to be a group of people that will make an incredible amount of money due to this down turn.

Would you really consider FM and AIG good buys? I'm sure the bill will go through, not its just a matter of when.

Tomorrow is jewish holiday, so those members of congress will be out. Soonest would be 2 days.

Well, most of the time people on here will tell you to:
'attend your local REI Club meeting'

I would disagree. Those things are filled with guys just like you. Lots of deals but little money. At least that's what I have found here in Gainesville.

If I were you I would get a free blog or cheap website from Yahoo and write down SPECIFICALLY what you are looking for and how an investor can benefit. Maybe create a similar scenario that they could expect from you. Work out things in details, not, "I find a house, we buy it and split the profits". How are the profits split? How long will their investment be out for? How much investment will they need? Why are your properties different than them looking on their own? How will the investment be housed, LLC, Corp, etc? What about closing costs, rehab costs? What protection to they have that their money is safe?

Answer these questions first, because they will be asked. Write them down in a format that people with money can read through at their leisure. A pamphlet, a website, a brochure and get it to the investors you are looking to target. Bandit signs that read "Looking for RE investments?", or mail out a letter to large land holders in your area with your info.

Basically all this can help you if the main thing is that you know what you are doing when it comes to investing. People with enough money to finance deals are going to see right through someone who doesn't know what they are doing. I would make sure you have all these questions answered before pursuing the funds.

well addressed personalized letters to homeowners. go to your county's public records online and look up "Lis Pendens". Send out letters to these people telling them how you can help. Instead of typing "Dear Homeowner", take the extra 15 seconds and type their name. Sign the letter with blue ink and maybe hand write your phone number.

Stamps are a little pricey but still probably cheaper than driving door to door.

There are a lot of threads on here that discuss (at length) the dangers (or lack thereof) of the sub2.

Richard is right. Banks now more than ever see a check coming in as a check coming in. With their alternative being a foreclosure and another property on their books, do you think they would call the note due?

Whoever told you they are dangerous, ask them who they know that it happened to? Or ask anyone for that matter if they have ever heard of anyone, PERSONALLY, that had a loan from a institutional lender called due.

Most people's first response to the subject of subject-to's will automatically splurt out "Those are dangerous" due to their lack of knowledge of the process in a real world scenario.

A buyer for a property I'm selling went through Wachovia. We are set to close on Friday. Today Wachovia was cobbled up by all powerful Citi (which, weren't they in a biggest of messes two years ago).

What impact, if any, would you think this might have on the closing? I wouldn't think much, since it's within a week away.

I just think on the lower end of the buyer spectrum, people are going to be very hesitant about buying a home instead of renting. So hesitant because of the experiences they are facing in this market that they don't even make an effort to try to get approved for a loan. Even if there is a possibility they can get one.

google your county's name for the Property Appraisers office.

Most counties now have these records online. Mine does and it is a very valuable resource.

Next time you are in an area to look at a house, look for "For Rent" signs. Write down the address, or number, look up the owner and send them a letter or give them a phone call. Usually they have more than one rental and might be looking for more.

I agree. I'm sure with time people will slowly beat the credit demons and warm up to buying houses once again.

Well....

The couple's broker pre-approved them when we signed the contract. I wasn't aware of this at the time but they had a charge-off on their credit. Unfortunately the broker wasn't familiar enough with her own UW standards to know that it would be an issue for approval. She told the borrowers that because it was in repayment, that it wouldn't be an issue. She had them pay for an appraisal and I'm sure they were also required to pay for some app fees. A few days before closing the loan was declined by UW.

These people weren't the brightest of folks and they were pretty upset they were unable to purchase the house. Just from my conversations with them, it was clear they would not be pursuing the idea of purchasing a home for quite a while. It seems like one lousy experience has made them lose all trust in the home buying process.

I just think this has to occur more and more as people continue to have bad experiences in the RE market.