All Forum Posts by: Jack Bobeck

I would talk with friends and family and use THEIR money to buy the properties, giving them a nice return, their names on the deed in first position. This way, you do not have to deal with the banks, I hate banks, they just SUCK the life from you with all the hoops they make you jump through. Much easier to find people who would like to invest.

I agree with @Jon Holdman 's assessment, get good paperwork, it will save your butt later. Larry Bernard is one of the local attorneys that is really good with the agreements and I would recommend him. Call him and speak with him. Again, highly recommended, I have closed a house with him. You need an attorney to review ANYTHING you are using in Real Estate, period!

Jack

I would search Meetup to see if you can find a local real estate group in the area.

Good luck,

Jack

@Max

Yes, there is the risk that you will never find a buyer for the seller's house. So you put a few hundred bucks down or 10 bucks, take it to the county registrar and cloud the title, so that the owner has to acknowledge working with you, so they can't sell it out from under you. Get a good real estate attorney to draft your documents for you.

You are not agreeing to purchase, you are going to assign the contract to the other party. Make sure the seller understands the entire process. Very important that the wholesaler does so as part of the process.

Jack

@Gualter Amarelo

Tile for renters, VCT for fix and flips. Anything has to be better than pee stained dog infested carpet.

Remember, this is a business, not a hobby. Treat it like a business.

Jack

BP'ers,

Greetings, I have an issue, my clients are buying REO properties from banks, and the banks' title folks are terrible at the speed with which they process work. Some have e-processing, great, but most are still sending a deed to the county clerk for processing. No one knows a status and we have no way to check on it. Paper!

I know we can take the same paper, walk it in to our clerk here in Duval county, for same day processing, they will process the deed while I wait. Catch is I have to have the deed.

So how do I get the deed from the bank, once funded, so that I can then close the deed at our clerk's office the same day I receive it from the bank? Any lingo to use, anything working for anyone else? I could really use some help from others on how to get these deeds processed faster from the bank's title agents.

Thanks,

Jack

Shocking about the rise in California Foreclosures in January. I'd be interested to see what is happening in other "Sand" states like Nevada and Arizona. Here in Florida, we're a judicial state and many foreclosures are still in the court system. It can take up to 5 years for a foreclosure to come to an end here.

@Tim Herndon Welcome, I have a need for houses in Jax, with buyers looking for 300 homes in Jax, concrete block, brick, stucco, alum siding, just NO WOOD, let me know what you have and where you have them, up to 25,000 in price.

Jack

@Jeff Riber The requirements from HUD to be owner-occupied are really not friendly to most agents. In Duval County right now there are only 46 HUD listings, most of them are exclusive, meaning you have to wait 180 days as an investor to make the offer. There are so many other Fannie and Freddie properties or others available through MLS. You can't build a real portfolio doing one or two here for investors. They are looking to bulk and now.

Jack

@Erik K. , et al, you don't need a special HUD broker to place "bids" for you on HUD properties. All you really need is a Realtor who understands HUD, Fannie Mae, Freddie Mac and the government guidelines of "periods you can have to wait for purchase, if not an owner-occupant". Any Realtor can help with this, but the best ones are those who are already working with investors and know the issues and guidelines associated with them.