All Forum Posts by: Jason Davis

Thats funny. I did talk with the LO today. He was as confused as I was. He was extremely helpful. He took time to call a REO contact he had. He called me back and he said to email him the Asset Managers name and he will get it addressed. He was extremely helpful and very nice to take his time to do this. I hope it works. I was very surprised by his help.

I am purchasing in name of my company; Turtle Properties &Investments. The account shows my business account.

What I have learned is that BOA will only look at offers on SS from people who qualify through BOA. Even if the offer comes with POF or loan pre qual from another bank.

My realtor called back late last night, one of her offers came back the same way and she uses hard money.

The POF is just a screen shot of the accounts showing the balances. What do you recommend? Letter from bank manager? What if I were to use a HML. Would that be better?

Sorry for my long over due reply.

The buyer already had an FHA mortgages. We had to get her house appraised. Etc etc.

So we went under contract on Oct. 7th. We did not close until Dec 30th. My flip appraised for 104k and 101k. Contract was for $94.

I walked from closing with 44,800 and change.

Now on to my next. I have a bid in with BOA on a SS and they are asking ir a pre qual letter from BOA. The offer is all cash? Does not make sence.

Yes I did.

I have a cash offer in for a short Sale.

Bank of America wants me to get pre qualified or a mortgage with BOA home mortgage.

I made a cash offer.

Any experience with this?

Honestly, I won't qualify for a mortgage after the last few years. Bu I have the cash!!

The major issues are taken care of. I am lookingbfor the lil issues. Thanks J Scott but I can not open the file.

My HML did my deal. I purchased house for $31. I put down $6k. And he financed the $25k plus a $10k construction loan. That was his idea. I assume just to increase the loan amount and his earnings.

Have you tried that idea, the construction loan on top of the purchase?

My first flip is under contract and my first home inspection is tomorrow evening at 6pm.

What are some things you have gotten dinged on?

I am just asking so I mak sure I have covered them.

I have one light that has stopped working, it's not the bulbs. One outlet that does not not work, hot water tank needs electrician to do final wiring. I rigged it and tank works. The electrician is coming tomorrow morning to do these.

My sale closes in mid Nov. I will have under contract and will close on it ASAP. Once that one is almost done, I will hopefully close on another. I am hopingbto have one or two ready by April 1.