All Forum Posts by: JoDee Randall

where do I find the money for my investment? hard money loans? how do I find them? private lenders - where do I come across them?

The problem I run into is even being able to make the purchase offer since they want to see a letter of financing before I can even give them an offer - is that normal process when bank owned? I can't fathom that since I would think they would want all the offers they could get after it being listed forever

I have been told that it wouldn't be an issue as the reason was that when they foreclosed on the home - there is currently drainage that is going into the home due to another home being built on a spring - they diverted the water and it runs to this house... I have had an excavator go with me and he has stated that he can fix that and create a drain field without problem. I have spoke to an inspector / mold cleanup business, and they have gone through it, and feel that at the point it is in right now - it is too cold for mold to continue to grow, and they can lick it right now fairly easy, then the drain field is done, and a de-humidifier for a few weeks, and it is good... no more growth after they have rubbed head to toe with an agent for non-re-growth

Hi
I have come across a foreclosure on a home that I can get for 25% ltv! I really want to get into this house - it does have mold damage to it, but I think that that will be my bargainingt tool with the bank to bring it to living stature. My thought with the history of the property being listed for 4 years - I don't believe it will flip for a couple years. It needs updating of which I plan to do. My plan would be to seek alternative or private financing for a lease to own option, or a partnership and I would live in it while paying the mortgage and doing the updates... then I would either pay off the other investor, or we would split the profit... I can get this home I think for 120k - looking for either cash investor or financing.... Any ideas on who or where I can find this? Or who can walk me through this process? I have access to many of these type of situations... it could be extremely lucrative I believe! :idea: :roll: 8)

thanks a ton! I am pretty eager to get into this... and I think you end up getting a keen sense when you start to become so serious as I am on this... before - meeting people in everyday life - I probably wouldn't have had the sense to realize that it is all right there in front of me, but lately - I have been meeting people - just in social circles, and it is very very weird - how "investors" who need to "dump" their money into real estate are coming out of the woodwork... and some of these are people that I have known of here in my area that were friends, and of very profile families in the country, but never thought in a million years they would want to do business with me... I guess I just had to open my eyes. Today being Wednesday, since Saturday night- I had two millionares (b? maybe?) come up to me - very good friends, and state they wanted me to find them property at a "steal", one of them wants to do 5,.... that is opportunity slapping me in the face if I ever saw it - so now more than ever shout out.....HELP!!!! :lol: :mrgreen:

Thanks for your reply -

my problem is - first i did go to the courthouse, however - was unsuccessful - so I decided to go ahead and try the internet - which did work better than going down there physically - however - now am realizing that I won't be getting an email back - so I will for sure have to trek back down there... unfortunately - here they are pretty unhelpful - but try try again.... :violin: thanks again

Thanks for replying! Yes - I think most of my wholesales / short sales - need for investers - often would be less than 5M- but I definitely don't want to sell myself short either (so to speak lol)... I am actively looking for investors as there are sooo many beautiful homes in this area - just off lake Michigan, and much of it view property. A lot of people letting their summer homes go - which some of them as well are multi million - so actually - I do know of a few right on lake Michigan that are REO - if interested.... just let me know...

thanks!
JoDee

I have tried to reply to some of the posts in that forum, and it is telling me I am not authroized? please help

thanks!

there is this property that I can't find any info on at the courthouse, I have heard through the grapevine that it went through sherriff's sale in the summer and that it is in redemption... but I don't see any record of that. I do see that there are income tax liens on the property - but thats it. if I want to contact the lender to make an offer, how do I find out who the lender is? also, how do I find out if it was a tax sale, or if there will be a tax sale on the property? any ideas? I have asked the county courthouse in an email - but no reply :cry: