All Forum Posts by: Juan Zavala

Thanks Paul

I didn't want to get to descriptive on a post but i believe that would be best! Hope all is well. 

Thanks again! 

Happy investing! 

Hello BP
I am looking for a private investor that is interested in a new company that will be building new homes.  Located in the RGV. Please contact me for more details. 

Thank You

Johnny

@K. Marie Poe, I used those numbers just as a range or guide to get some sort of idea and post here since I have not seen the property. Granted they are not good numbers.

What I figured out was rents run between $600-$700 in that area. I do need to see the property to evaluate what repairs is needed.

I will contact a local real estate attorney to take a look and see how we can work the deal.

Wanted to get BP experts advice before speaking to the seller.

Thanks

So that means I would have to finance by a bank or cash on hand? Plus, I understand banks drag their feet on short sales because it still needs to be approved by them, true?

Thanks for the quick response Ellis, I did try to do my own comps but I couldn't come up with anything sold. Plus it could be the actual sites that I was using. Like I said I don't have access to MLS which would be nice. Friend of mine who was helping me with comps lost access, so I lost access.

I done some research but like anything I don't want to miss a beat since this is my first foreclosure deal. I can and should consult with an real estate attorney but like you said BP nations has a lot of experts on here that are willing to assist. So this was my first approach.

This deal was just given to me yesterday so first thing I thought BP. So before I approach her I want to go with a plan.

This is my first foreclosure deal and I need some help with. What steps do I need to do to acquire the property subject to and/or any ideas?

This property will be foreclosed on 29th of this November, this month, if payment(s) are not given. Individual is 3 months behind in her mortgage at $450 a month.

Property was refinance and carries a $45,000 balance. Have not met with the individual personally so not sure what bank is carrying the note. On the County Appraisal Website shows to be valued at $53,000 and the home has been valued up to $67,000 a few years ago. I have not pulled any comps since I don't currently have access to it.

It was built in 2003 so my understanding is that its just filthy. I know I will find more repairs once I look at it.

It is up to date in taxes and I am going to offer to pay them as part of the down payment. At the same time it saves me money for the time being.

Any other advice on how to take over with minimal money down will be great.

This will be a buy and hold.

He was the actual owner. Looked up the property in the county appraisals search website and that's where I came up with his name and address.

I kept digging and found his email address. Messaged him and hopefully he will respond.

Thanks Curt, I appreciate your promptness!

I was doing some research on a seller and I found him on Facebook. Would it be good business to contact a him on FB about a commercial building he is selling, even though he has no business associated to it?

I'm looking to send an offer letter to a seller of a triplex that resides out of state. Does anyone have a template or can give me some advice on how to approach them?

I'm sure my letter of intent to buy will not be his first from an investor. So how do I stand out from the rest?

Thanks

, Very true ... less competition .... more deals for us!

Thanks

, Yes it did, that was exactly the information I was looking for.

Thank You!