All Forum Posts by: Mike G.

Hi, Steve.

Welcome to BP! Maybe I'll see you at one of the local REI clubs.

Hi, @Thomas Swindell , sorry this has happened to you. Here are some suggestions:

- Try to get on good terms with at least one neighbor, give them your contact information and ask them if they would be so kind as to contact you if they see anything suspicious at your house.

- Install motion sensor lights.

- Install a portable wireless alarm system, such as SimpliSafe mentioned above or one by Fortress Security or LaserShield. You will of course need to manage showings by having agents call you so that you can turn off the alarm before they enter the house.

- Put alarm signs at entrances to the house, and alarm stickers in the window.

- Install dummy cameras, with video surveillance signs.

- Install blinds at front windows so that it's not obvious your house is vacant from the street.

- Install timer outlets that turn on lights/TV/Radio during evening hours to make it appear that the house is occupied.

- Do not have a For Sale sign in front of the house.

- If feasible in your area, use an electronic agent-only keybox, rather than a lockbox with a code.

- Install a GPS tracking device in your appliances to help police track and find the criminals

- Make sure the lawn is regularly maintained and newspapers and fliers don't pile up on the driveway.

- Leave a car parked in the driveway.

Ooh, may I come?

@Augie Byllott , do you recommend the use of a loan servicing company when making payments on a house purchased subject to the existing loan?

Also, you say that the seller can use your mortgage statement to show that payments are being made by a party other than them. But what mortgage statement do you as the buyer have if the loan remains in the name of the seller? Isn't the seller still getting the mortgage statement? Or do you tell the bank to send mortgage statements to you now?

Happy Birthday, BP! And thanks, @Joshua Dorkin for creating such a great site!

Yes

How about:

• Minimum number of beds/baths (only for a SFR obviously)
• Minimum/maximum square footage

Personally, I wouldn't fill out one of these cards. I would prefer to give the info through email. I would recommend getting the potential buyer's contact info and then send an email asking for their typical purchase criteria.

I don't know anything about this program, but when someone says "don't know of an easier system to make money", just give us $1,000, it sounds like they've found an easy system to make THEIR money, $1,000 at a time.

Seriously, how can they say it takes no money out of pocket, but you need $1,000 to work with them?

This is proof of wrongdoing:

"I would have to pay ... $6k move out fees to the seller in cash and outside escrow."

Even if the interest + points were the same here in SoCal, it doesn't seem like your comparison between hard money returns and private lender returns is valid. Hard money lenders are most often brokers who are actually connecting rehabbers with private lenders, and the private lender gets the interest while the HM lender gets the points. At least that's my understanding from speaking with a number of hard money lenders. Obviously there are hard money lenders who lend their own money as well, and they will of course make a much better return than the private lenders they are working with. But for the private lenders loaning through hard money brokers, they are making a similar rate of return as if they just loaned directly to the rehabber.