All Forum Posts by: Jason Davis

Hello Everyone, A homeowner in pre-foreclosure reached out to me to sell his house and it's a situation i've never heard of before. Looking for some guidance if i should even pursue it:

Situation: 

• it went to preforclosure
• chapter 7 Bankruptcy filed which stopped proceedings
• The bank resumed foreclosure proceedings after 2 years
• The property went to auction and was purchased (with a receipt and all)
• chapter 13 Bankruptcy was filed by the seller
• The Auction Buyer asked for their money back
• chapter 13 Bankruptcy case was dismissed
• Auction Buyer filed another motion to cancel the refund request and be the buyer of the property
• Bank filed a motion agreeing with Auction buyer

From everything I see, the auction buyer basically owns the property unless:

1. the judge decides to refund them the money and puts it back for auction
2. I speak with the bank and see if something else can be done? (Is this even possible? it's december ... maybe they want to clear their end of year books ... i dunno)

I'll get a lawyer involved if need be but I wanted to get a baseline first, so any help is appreciated.

Thanks in advance!

I'm interested to see what others experience is but here's my 2 cents:

For background, i'm a complete newbie, 0 deals so far and just started a few weeks ago, but I've been trying to iron out a repeatable system so I've researched all of these.

Propstream: I love it! The company seems to be actively innovating and the platform is easy to use. I've seen others say that there's a learning curve and i definitely agree with that. I think you have to know what "situation" you're targeting and figure out how to best make the filters show that. Other than that ... it has MLS data! They just added a D4$ mobile app around July 2020 -- i think ;) -- which is appealing although i haven't used it yet. It looks comparable to DealMachine but not quite there yet. Because Propstream has both Public Record and MLS data and they seem to actively be pushing updates, they're the front runner for me.

ReiPro: I'm in week 2 of the free trial. The education in that platform has taught me alot although since i haven't had that first deal, i dont exactly know how applicable it is. Seems great though. I doubt i'll continue with it, although i have downloaded all of the free forms they have lol. I mostly signed up for this one because i wanted a system to help me with all the information since i'll be looking to scale eventually and it has a built in step by step process. I dont believe they have MLS data, just public record. They do have a "maid" type service that's supposed to filter out bad SkipTraces & Addresses (i.e. what extra MLS data would have done) but i haven't used it. It's goal is to save u $$ on mailers that dont have to be sent.

Flipster: The marketing around this product is amazing, but I've seen too many bad reviews on bigger pockets over the years to try it. It doesn't have a free trial anymore and i've heard customer service is hard to get a hold of for refunds. I've heard that it only gives you decent stuff at the $300 / month level, which is too steep for me. Everything "looks" great tho other than those horror stories i've heard. I'm interested to see what others think about it from recent use.

All in all, I've pretty much decided to start w/ just propstream and use their D4$ platform since i think they'll continually improve it and that's something i can get behind. 

Awesome, Thanks @Peter Walther This helps

Hey Everyone, Newbie Florida Wholesaler here. 
I'm working on setting up my process for for when i get leads to deals, etc. From what i understand, i have to get a signed purchase & sale agreement, get the assignment contract signed and then submit that with the earnest money to the title company. I've got the assignment contract, but when it comes to purchase & sale agreement, I'm not sure what to do. I'm seeing many many varying things online. I know the be all end all is a real estate lawyer, but i'm hoping someone can send me in the right direction before i get there. I've seen 1 Page Contracts to Purchase, 1 Page Purchase and Sale Agreements, and then websites like eforms and unlimitedmls that have 10 pages agreements. I'm not sure which way to go or what to do. 

For now i'm just planning on doing cash but i think i want to focus on pre-foreclosures in the future so lease option and seller finance would be other methods to explore. Would they use the same agreement?

Thanks everyone in advance for your help.

@Amy Aziz  would you mind sending me too?

@Shawn G. Thanks so much!

@Tyler Gibson Awesome! Thanks Tyler!

@Dmitriy Fomichenko Thanks! Reading it now.

Hey Everyone, My name's Jason and I'm just now jumping into Real Estate Investing. This post is my step 1 to overcoming my introvert fear lol. My goals are to build a 10-20 ( or more ;} ) home portfolio in the next 5-10 years and make a business structure that i can pass on to my kids.