All Forum Posts by: Jesse O.

I would check that list, I'm pretty sure Florida is a "judicial" state . . .

I agree @Rob Beland.  I've know several people in my neighborhood that have stopped paying their mortgage, moved, and collecting rent payments until they get foreclosed upon.  Makes me sick. 

Interesting read.  How many people will try this?

http://www.nytimes.com/2015/03/30/business/foreclo...

@Rodney Dixon it depends on what amortization you're using is (30 years, 20 years, etc) and you would have a balloon payment at the end of the one year (or whatever term you agreed upon).  Best way, in my opinion, is just do the interest payments for the term, then pay off the principal at end of term.   

What type of deal are you using it for?   A flip?   How about 7-8% interest only payments until you cash out and a percentage of your profit when you sell.  I would first ask him what he thinks is fair and go from there.  

I am . . . what do you have?

If he wants a non-disclosure signed by you, he should be happy to send you one.  I wouldn't jump through hoops for him.  Honestly, to me, it just doesn't sound professional. 

On the other hand, maybe this is how he is trying to weed out tire kickers.  Are you a serious buyer and have the cash to buy it?

I had an issue with a lead I had gotten from a wholesaler that I work with on my last purchase and this is my big problem with wholesalers in general.  I got the lead and had some interest.  A couple days later another wholesaler said that they had a property in my specific area.  It was the same property that the first wholesaler had, but, it appeared to me like he was marketing like he had it under contract.  I know that some of these guys work together and help each other out, but I think that stuff should be disclosed (i.e. "I'm helping someone out on this one").  At least once a week, I get emails of the same property from different wholesalers.  Anyways, I think this is one of the many reasons wholesalers get a bad reputation.

Good luck.