All Forum Posts by: Hashmat Amin

Hi guys. I currently own a home and have a line of credit which I would like to use to buy another house. When I called Chase, they said that they don’t look at the rental of my current home in the evaluation process.

Can you guys recommend lenders that I can use to get another mortgage?

Thanks for the valuable input.

Has anyone had success wholesaling deals that are outside their state? I live in Southern California, and have a motivated seller in Henry, VA. She wants to sell pretty quickly but I dont want to screw this up. Any suggestions?

Hello. I am curious to know if you its possible to buy a property subject to its existing mortgage if the bank has issued a notice of default on the property. Lets assume the home owners are delinquent $50,000 and they have been served an NOD. Can you still buy the property subject to?

Wouldnt I be able to get a letter from my HML to show as proof of funds?

ehich hard money lenders would you recommend ? I want to put a few more hard money lenders on my contacts list but want your advice on who you have delt with. Thanks in advance 

I have a off market REO property that is priced .65cents on the dollar. Working with the listing agent, its located in Orange County, CA. My concern is, since the listing agent is going to be using their purchase agreement, how can i position myself safely to be able to do a double close and wholesale this property out. I just got off the phone with the listing agent and made him the $145,000 all cash offer. Has not got back to me yet.

ARV: $220,000

Proposed Purchase Price: $145,000

Repairs: $20,000

What has been everyone's experience wholesaling REO's?

Flipping houses can be done in any market. The objective is still the same. Buy properties below market value and flip for a profit. Ask around to see if there are any investor clubs you can attend to get a better understanding of your neighborhood and who the key players are.

So i was driving home the other day and kept a close eye on properties that didn't look to pleasant. I found 2 that showed major signs of roof damage. How do you recommend I approach the home owners? Should I just send them a letter asking if they want to sell? or knock on the door? what approach would you take?