All Forum Posts by: Joe Salimao

Jon,
Who would I ask to speak with in the bank?
Joe

Hi Guys,
I have a few realtors working for me looking for deals and I have a mailing campaign underway. So I am expected some things to come my way soon and I wanted to be ready when they do. Some people recommend forming a relationship with a bank before the deal is there but how is this done? What do I say to them if I don’t actually have a deal I need financed?
I guess my question is what are the best ways to get 'pre-approved' for deals so I am ready when they come along?
Thanks in advance,
Joe Salimao

I agree with Dave. This is completely unfair to those of us who are responsible. But then again this is one of the reasons I feared Obama becoming president in the first place.
I am really sick and tired of hearing how the poor homeowners were taking advantage of and yes the banks were wrong but these homeowners were presented their monthly payment. They couldn't look at this and see that it was too much for them to afford? The answer is yes they could have and they probably did but took the loan anyway because they were irresponsible.
Now there are some situations I can understand such as individuals losing their jobs. That is an uncontrollable event and can't be foreseen but this is only a percentage of the foreclosures.
Do any of you have any other thoughts on how this will affect the foreclosure markets?
Joe

So should we as investors begin looking at other investment oppurtuinities other than preforeclosure? Doesn't this completely wipe out the foreclosure market?
Joe

Thanks for all the replies.
I have a mailing campaign unerway and it is pretty large so I am assuming I will get a bunch of phone calls. So am I going to call my realtor eveytime I get a phone call to see what the house is worth? This seems like alot of work for them.
Also, I have heard that you should always provide a offer over the phone and then revise it based on repairs and anything else they left out of the phone conversation. How can this be done if you don't have comps pulled for the property.
Joe

Hi,
How can one effectively pull comps on a property? Are there sites that you can use, besides zillow, that show you comps and the actual details of the property rather than just what it sold for? Obviously I will use a realtor for the official comps but I need something to get a basis.
Also, what do you guys offer the realtors who pull comps for you? What is in it for them?
Joe Salimao

Hi,
I am looking for an experienced realtor who his familiar with the Philadelphia market and who works primaraly with investors. Please feel free to contact me:
Joe Salimao

Hi,
I am looking for an experienced realtor who his familiar with the Philadelphia market and who works primaraly with investors. Please feel free to contact me:
Joe Salimao
[REMOVED]

Dan,
Could you provide a little more detail?
Joe

Hi,
Is anybody familar enough with foreclosure records that you would know how to filter them based on nieghborhoods? In the record it usually has a block and a lot number. How does this relate to the neighboorhood?
Thanks, Joe