All Forum Posts by: Jessie Cervantes

Thank you Joe! For reference Im in the Houston Area Market. looking to tackle other cities and states as well as they have homes for lower amounts such as $80K-130K.

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Quote from @Joel Bongco:

Quote from @Jessie Cervantes:

Hey BP Family, whats the best outreach for pre foreclosures? I'm a beginner with creative finance. I found a resource for pre foreclosures, whats the best way to contact these sellers to see if they are interested in a sub to scenario? Is it a good idea to send them a no pressure letter in the mail proposing a conversation to possibly to solve there issue? And what would be the best way to carry that conversation after the letter? TIA!

Hi Jessie, my team specializes in Pre-foreclosures -- we've saved over 500+ homeowners from foreclosure - pro bono. Distressed homeowners are typically pretty down and depressed already given their situation. You don't want to add insult to injury by offering to buy their house off the bat including offering to do a Subto. As responsible Real Estate Investors, we want to educate them on their options: Mortgage relief programs, loan modifications, forbearance, short sale, etc. If you don't know, don't guess and bring in someone that understands these programs. Working with distressed homeowners requires grace and patience. They are not mad at you, they are frustrated with their situation. As a result, I recommend sending them an empowering mailer for you to educate them on their options. If you connect with a homeowner that needs assistance, please let me know, we will assist you and the homeowner -- no charge. Aloha, Joel

Aloha, I like it. Will do Joel!

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BUMP POST, still looking for template

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Quote from @Account Closed:

Hi Rilicia,

PM me. I have a couple of letters that I'm more than happy to share. One is for homeowners who are in default and upside down; one is for homeowners who are in default but still have equity in their home; and one is for homeowners who have received Notice of Trustee Sale and their house is about to be foreclosed.

Good luck.

Is this offer still available? Interested thank you

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Hey everyone, Ive been searching for the past few weeks for seller finance deals to ultimately rent to Section 8. I learned a small portion of this method from Tom Cruz, a section 8 Guru. Ive quickly came to reality and realized it is not as easy as he makes it seem. Ive also seen others use the method of a DSCR loan with ($8K-12K) Down. Have any of you guys had success with these sort of loans and could it be better than seller finance/sub to? Im looking to get started with my rental ASAP! All help is appreciated TIA!

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Have been using propwire for a few months now, its given sufficient information on property, owner, comparables. I do find to this day that searching for a specific property can be a bit of an issue at times. I also just noticed it does not filter for multifamily. Has your experience in the past year been well? They are now offering memberships.

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Quote from @Ken Jernigan:

These are pretty standard terms, comparable to commercial lender. Most commercial lenders, though would want a larger downpayment. Probably not an issue for seller financing, but make sure there are no prepayment penalties.

You can calculate payment and balloon amount easily enough with excel or google sheets.

Do you have a excel or google sheet you would not mind sharing with us for these calculations?

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Quote from @Dorothy Butala:

Are you the seller looking to finance people purchasing your properties, or are you a buyer?

I'm looking for seller finance deals to purchase for myself.

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Dorothy I'm looking for seller finance deals to purchase for myself.

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All Forum Posts by: Jessie Cervantes

Jessie Cervantes has started 3 posts and replied 21 times.

Post: Dscr Loan For Rentals | The Best Strategy?

Post: Best approach for foreclosure?

Post: Pre foreclosure Letters

Post: Sample pre-foreclosure letter

Post: Best approach for foreclosure?

Post: Dscr Loan For Rentals | The Best Strategy?

Post: Any experience with Propwire?

Post: Seller financing terms

Post: Seller Financing Terms

Post: Seller Financing Terms