All Forum Posts by: No Name

propertythief,

Thanks for posting the suggestions. There are so many ways that thinking of all of them can be daunting. Were starting off with a few and building from there.

I am a newbie in New Orleans working on a short sale long distance. This is actually my first deal. It's a family member who is going through pre foreclosure in Houston, Texas. I am not clear on how to run the numbers for the deal. The bank sent her a letter basically offering to short sale the property or give her cash to vacate. I have the short sale package list from the bank. I have submitted the authorization letter. I have also completed the hardship letter, working on the seller's financial statement, collecting 2 yrs of tax returns and 3 months of bank statements. I have a detailed retail inspection report. I just don't have lowball comps, current listings and proof of funds. Any help is much appreciated. :shock:

Hello Bigger Pockets! We were introduced to this site about a year ago by another real estate investor. Since then, we’d visit and read a lot of the posting and they would come in very handy. After a while, the decision was made to join the group and be more involved in questions, answers or anything else that comes up when dealing with real estate.

Since Hurricane Katrina, our lives changed. Pre-Katrina, we planned on starting our real estate investment company and worked out a time line on acquiring several rental properties. Post Katrina, we’re glad we didn’t start at that time. Yet, given the current state of the Louisiana/Mississippi coastal area, we decided to take real estate investment head on.

Although we’re in New Orleans, we’re not limited to one area. We’ve started negotiating deal in Utah, Texas, Louisiana, Mississippi Pennsylvania and Florida. If the numbers make sense for us, then we submit offers. Currently, we’re starting our company’s foundation through wholesale buying and selling. We chose to start off as wholesalers, because we’ve found it to be the fastest route to building capital.

In addition to wholesaling, we also consider lease options, short sales, rehabbing, probate, mobile homes tax liens and notes. Our future looks extremely bright and growing. We hope to be able to utilize Bigger Pockets as a means to learn, share information, network and grow as a company. We look forward to many interactions.