All Forum Posts by: Samuel Kimani

has anyone ever heard of a seller not accepting an offer because it was an FHA insured loan? It seems like I've been to hell and back with no results...I have backed out of the wholesale deal to let it go thru for my end buyer (since I am doing the repairs also) and now some holdings co. (which I was told was a manager, then told it was an reo) is saying they wont take the deal with an FHA user...does this make sense?!?

I second that. Most of the people that I have been in contact with are first time home buyers. This is the first one to go thru the whole process with me. Im glad she isn't high strung cause that would have been more than an oversight.

Thanks yall for the advice, you prevented several problems.

from reasearching the situation I thought that a double close was the best situation for wholesaling an REO.

edit: my end user is an FHA user.

I am looking to do a double close on a reo property but I am not clear on how the agent comes into play. Should I contact one, or should I contact the listing agent. Would I have to take my end buyer to that same agent?

If the whole situation is done with the listing agent, do they get quadruple paid? Wouldn't that warrant some negotiation for a further discount?

GM's products suck compared to their foreign counter parts. If they had a better product (or like it is being slung now...'if Americans cared about America, buy American') they wouldn't be in the mess they are in. GM to me is a good example of the American ego that has die.

I said: America is going to be fine. The bankers have the dough to make the bread. And they've had it all along. They didn't even need the first bailout.

I like the chart that you put up in a prior post, it makes sense. But, wouldn't it make sense (in order to be the best) to help your countrymen prosper?
We haven't done that tho...we hired outsiders to do the big (technology) and the small (building houses). So in a sense, I agree, we could do that, but we'd have to be mentally invested in each other. Besides, some of the people that get the most assistance put out in some relly profitable ways, ie the check cashing business.

I wouldn't support us either, since a lot of those other countries depend on us to buy...our money machine is getting oiled.

Im 24, so I appreciate the opprotunity to see things like this go down on a major scale (an historic election, financial meltdown, and the uncertainty of what may happen) Even tho, I happen to be optomistic, its better than being older and thinking my time for success has come to an end.

Moral of the story is: As Americans we have too much "say so". Not in the sense of govt, but in the sense of having our mouths open. So I agree that we need to open our eyes and get with the program, but not in the form of scratching at a figure head. (check the title of the post, lol) My lawyer told me one time (unrelated to our topic), "its not about fixing things, its about damage control."

I believe all that have enough sense to research real estate will have enough control over their personal damage...if any.

So what is the point of this post?

Is it Obama is the worst thing for America, or is it America has been jacked up since its existance? I think its the latter, then you'll have to live with Obama just like with Bush. Obama works for someone and its agreed that the US Govt isn't the best thing to believe in, so why gripe now?

America is going to be fine one way or the other. And people have been saying we're living in the last days for a LOOOONG time...only last day I believe in is YESTERDAY.

I notice that a lot of people on BP say that they dont want people to get govt assistance (Im on the fence about it). But if there was no assistance, then how would people advance with their ideas (grants)? Who would do the work for the government (contracts)? Who would have the majority of the money for sec8 rents? What would the government do with all the money they collected? (Im not asking these things in an arguementive way...I honestly want to know)

Another thing that I believe is that because Americans are HUGE consumers, there's no way for us to break our mentality (and the mentality of the ones who sells us goods, and lend us money) to have enough enginueity to boost our exports to get back on track.

would I be able to do a double close on an reo to a person getting an FHA loan?

Is it possible to negotiate directly with a bank if you are not a broker or an agent?

How do you go about starting a relationship directly with them? I have deceided to go the flash funding route to wholesale a property that my end buyer likes.

Is there anything in particular I have to look out for, I hear that it is time consuming.

did some of these loans prevent people from refinancing? that is the only way I could justify leaving most of the blame on the banks.

other than that, I believe that it is 50-50.

I also agree with you to an extent, but gentrification is a fine line term. Some view it as malicious. Which is why I mentioned the implications.

"Scared money dont make money" is a saying I've grown up with. So like others who stated what to look out for, I added something also. Hopefully my view gave enough of a different perspective on the situation.