All Forum Posts by: Mike Delprete

Steve, I agree this is lengthy and there are a lot of great questions which I think we would have a great conversation about. 

In my learned opinion homeowners who sell at a discount NEED to sell not Want to sell. They're at a point in their life where they're in a pinch due to a life-changing experience, numerous bad decisions etc. Where the quality of life is more important than money. I've worked with homeowners who were ashamed of the houses condition and the situation. I've had owners say they feel like the world is on their shoulders. They are just at a point where they're ready to throw in the towel. I agree it sounds crazy that someone would unload the American dream but it does happen and often.  

Tracking wholesale transactions will be tuff as assignments arent recorded. However yes these are going down every day. Title agents can probably give you a good indicator as to how many wholesale deals come through their company. 

Thanks for sharing 

10-20% down, 9-12% Interest only, 6-12 month term. Fees our lender specific there could doc prep fees, loan origination, etc. I go with lenders with no fees but will take the higher interest rate as I'm out of my deals pretty quick. 

Azreia.org

I've been a member for 10 years. Just the monthly market update from the Cromford report is worth the membership. Definitely recommend checking it out. 

I think the question is what kind of tenents do you plan to serve? Lower, middle, upper class? What's your budget? I can tell you where to go from here. 

You should attend the Arizona real estate investors association. They have local meet ups were you can meet with other landlords in the area

David, 

No you don't need one in place however it would be to your advantage to have interested buyers lined up.

There is no charge for a buyer to get qualified by a loan officer. I do suggest they speak with one as soon as they can so they can be prepared when the option is due. 

Credit repair businesses are all over. You'll have a better idea of what needs to be fixed after speaking with the loan officer. 

I've been using Nohemi at Empire west. She mainly works with investors. I've done assignments, double closes, sub2 and wraps with her. You should reach out to her.  

Nohemi Medina-Velasco

Branch Manager/Escrow Officer

4808 N. 22nd Street #100

Phoenix, AZ 85016

Im not sure of any REO SFR lists or events at the moment. Have you considered any other types of marketing?