All Forum Posts by: Account Closed

Sounds like a solid plan. Only thing I wonder about is the referral of the sellers to an agent. If their already behind on payments, then their credit is  taking a beating.Is it realistic that they would be good candidates for another home purchase? Was setting them up with this agent part of their agreeing to subject to purchase?

Nashville Property Assessor is a good place to start for getting the owners info. Also Nashville foreclosure laws. Looks like you have 60 days to reach out to homeowners and offer your help, but, i could be wrong so check with your realtor friend and local  and state laws. If it is 60 days it can be plenty of time or not a lot depending on your process, foreclosure timelines, owner and title availability to name a few.

400 leads is a lot, I would definitely build out your criteria and focus on those potential homeowners you could help.

@ BillGulley

Can you further share what you see that makes it a potential deal please.

@Wayne Brooks

You are correct, the 2% is a mod and will adjust to 3.25%

I need to update my profile as it says wholesaler. I am able to afford payments if loan is called due or accelerated and am a real buyer.

Seller is not looking to use entitlement again as spouse has passed and she is a civilian.

Hello BP. Well after a dedicated year I have a deal! Please help, any insight to the validity of deal would be much appreciated.

Subject to existing financing.

Cure of back payments: $30,523.54

Closing Cost : 600 (or less)

Outstanding Principle Balance: $ 237,355.83

Original Principle Balance: $245,113.00

Mortgage (PITI) $ 1175.89

Rentometer estimate: $1695-1700

Interest Rate: 2%

Type: VA 30 Yr Fixed

Rehab Cost : $7.5k-10k

( Realtor Comps)

Listing Price between $339,900 and $425,000

4 Bedrooms

4 Total Bathrooms

2,887 to 4,300 Square Feet

$92.92 to $124.66 per Square Foot