All Forum Posts by: Jacob Evans

Jason, your blog/marketing tactics seem like they might raise issues with the SEC around advertising for investor funds.

Are blogs under the same advertising/marketing guidelines as other websites or are they exempt under some specific stipulation?

Update - the guy who was going to fight for wrongful foreclosure and stay in the home contacted me and wanted cash for keys. When I asked him how much he would need to vacate he never replied so I went to the property one last time to attempt to speak to him, but the house was empty (I knew because there were no footprints in the snow) so I quickly changed the locks and took ownership. I then received an email that night from him asking for $1,000 for keys. I kindly responded thanking him for vacating lawfully of his own free will. :wink:

Lesson - most occupants are simply looking for a free ride or someone to punish for their "bad fortune". Stay persistent. I've now purchased 30 occupied foreclosure homes and have never had to evict. I think it's due to my eviction system that entails constant nagging, lol.

Keep us posted Sharad!

I'd like to know of some good rehabbing/flipping books as well.

Has anyone made any progress on this yet?

I'm searching Amazon reviews today and will buy, read and report.
Thanks!

I had a guy claim he was going after his lender for wrongful foreclosure when I presented him with a vacate letter about 3 weeks ago.

First I would suggest verifying that the letter actually came from an attorney. Google his name, phone call, etc. Personally it doesn't seem like a case most attorneys would jump at taking, considering the client couldn't even afford to pay his mortgage, let alone attorney fees.

I talked to a few investor buddies of mine and one of them had been through the same thing recently. He ended up having to hire an attorney to evict the occupant, costing him $850 and 50 days time.

The occupant was simply trying to live rent free for as long as possible. Not sure what your guy is after considering the home is vacant???

I'm working with my eviction attorney now to get him out.

I suggest finding an eviction attorney who provides a flat rate fee instead of one that fluctuates. It's more costly up front, but could likely save you thousands if the occupant/previous owner DOES actually take the case to court.

I'll keep ya'll posted and you do the same.

Good luck!

As would I. Does anyone have any info on this? How did it work out for you Chris?

I've been investing in Spokane for 4 years now. You should contact me sometime Victor and let me know how things have been going for you.

An update. I've tried to contact this particular lender every other day for a week now and have not receieved anything back from them. It seems hopeless, but I'm sure as Andy said, there are probably some lenders willing to wheel and deal. I guess I'll just wait for it on the mls...

Ayo F. how did you acquire the shortsale? Did you negotiate it yourself? Realtor? Negotiator? Did you just submit an offer through the MLS or were you working directly with the home owner? How long did it take to close the deal? Just looking for details.
Thanks!

I was really hoping to see if someone here had done this. An investor in my town has done this. Here's what I've been able to put together so far.
I buy at the foreclosure auction often, but accidentally missed a house with a sweet minimum bid last week so I wanted to contact the beneficiary and purchase it after the fact.
Anyways, if you go to your local county recording office (located in your court house) you can search for the mortgage/deed of trust or whatever document they use in your state to record the lending information on the property. Ask somone in the office to assist if needed. On the document will be the beneficiaries (lenders) name and address.
Jot that down, throw a search in google, call them up and then ask to speak to the companies "REO Department". From there... well, I haven't made it that far, but theoretically you just send them an offer on the subject property.
Hope that gets you in the right direction.