All Forum Posts by: Jeremy M.

What do you guys think about the new RPR program? I've only had a quick look but this program seems to be really useful for not only realtors but also investors.

What I am really excited about is the AVM. I don't know how accurate it is, but AVM is a tool used for estimating value on a property, kind of like a zestimate. If anyone has used it has it been a good estimate or has it been inaccurate for you?

They also have Neighborhood info. Non distressed/ distressed housing searches. It seems just like a real good upgrade on your local MLS.

What do you think about the Realtors Property Resource?

Braden Chandler
I think Jeffery was referring to marketing for sellers not buyers.
If not, I would like to know how you do so Braden.
Thanks

Wayne Brooks
Yes, I understand that POF means cash. But this cash does not need to be from my own bank account. I use a private lender which gives me his bank statement as well as a letter saying he will finance me for the amount (POF). This is still considered "cash" deal in our state contract, because it is not contingent upon financing.
Thanks for the help.

Thanks J.....in our state realtors contract we have a spot where it saids "not contingent upon financing: this contract is not contingent upon financing, however, buyer reserves the right to finance any portion of the purchase price."

So that's what I usually check with my PoF.

Is it a problem if I use a POF letter from one lender to make an offer on an REO, but then when the offer is accepted I actually use a different lender?

Ok so more like 40k instead of 20k, great.
Anything else that may be a problem?

Say I'm looking to purchase a home for 20k with a short term lender. This property is an investment property, and already has a tenant in it paying 700$.
Since I purchased it with a short term lender, I'm looking to quickly get it refinanced with a regular bank, lower interest 30 years fixed. Zero repairs done so I wnt have to wait 6 month for the seasoning.

What's gonna be the problem with this scenario?

Ok thanks, this is actually my first deal so thats why I am trying to make sure everything goes smoothly and i wont lose money so thats why i choose to even give EMD after lender approval....

On the flip side im giving the listing agent my side of the commission and so I think that this would even out the board.

I have on the contract that seller will pay for title commitment in exchange I close at there title company.
I pay for Inspection which will be around 350$
No survey will be done on this property

I decided to go with the after lien holder approval to help protect myself.

Thanks that helped alot
For this property Im actually going to put a tenant in it, then look to sell it for more.