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All Forum Posts by: Herb V.

Herb V. has started 10 posts and replied 78 times.

Post: The Short Sale Flip- maybe

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

Anyone?????

Post: The Short Sale Flip- maybe

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

OK lets see if I have this right, I'll make it short and sweet. 1- I negotiate a SS and can buy it at a good price. I have the house under a 6-12 month P&S contract. 2- I locate an end buyer C. 3- Now I close on the A-B end and then transfer ownership of my LLC (that I purchased under) to the C buyer, the B-C part. Is that the jist of it. Thanks, herbster

Post: Ever Seen This

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

While searching for wholesale properties to flip sometimes I see "HUD Foreclosed Short Sale" Whats that? I don't understand. I thought they were two different things. Thanks, Herbster

Post: Who is Kenny Rushing?

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

He's been around awhile and does 24hr.SS's because he buys the Note, so he's the bank. I downloaded some decent stuff but won't buy either. I'm not sure but I think Preston is in the same area. Lots of investor/guru's there.

Post: Removing joint compound

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

As said, joint compund as used in drywall joints comes off super easy. You must be talking about spackling to fill plaster holes or maybe grout for ceramic tiles. Which one? How in the h_ll did they get roof sealant on your bathroom fixtures? Fire em.

Post: Working with a Realtor 0n SS's

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

Thanks All, Thats all he wants is the listing. I can't wait to get started. Herbster

Post: Working with a Realtor 0n SS's

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

I have a Realtor that says he has many leads 30-60 days late but no time to market to the owners. He asks if I have any thoughts on these leads. How should I handle this? I want the leads but I'm not sure what he would want from me $$$. Thanks, Herbster

Post: are you assigning the p&s or the option?

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

Then your flex-option must be non-exclusive, change that if you wish and yes the PSA carries more clout. Herbster

Post: are you assigning the p&s or the option?

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

I consider the option as binding especially when a memo. of option is recorded. Sometimes I even release my option back to the seller for my fee. Herbster

Post: Wife not on mortgage does she have to sign purchase agreement?

Herb V.Posted
  • Real Estate Investor
  • Vicksburg, MI
  • Posts 129
  • Votes 36

Curt its a good thing I can't reply to your opinion on this site. That was a P__S poor answer if I ever heard one. Herb