All Forum Posts by: Kristoffer Tier

I recently spoke with @Brian Gibbons over the phone and he gave me a quick rundown on Lease Options for people starting out. He gave direct and straight forward information on the difference in wholesaling and lease Options in California and I now have a better idea on how I should go about starting my investing. There is a large learning curve and there are a few steps I need to implement before I can actively invest but I am still determined to make it happen. Go check out his web site or reach out to Brian if you want more info on Lease Options

@Account Closed Great, I will definitely keep that in mind. Thank You! 

I am currently in Southern California (San Bernardino and Riverside Counties) and I'm looking for advice from anyone in the SoCal that has experience in dealing with Pre-Forclosure properties. I know that California is a Deed of Trust state so I am looking for information on how I can go about marketing (I was thinking about knocking on doors first), speaking with these type of sellers and the acquisition part overall.

So a couple questions that I have are..

What's the difference between Notice of Default and Notice of Trustee sale? Can I get these properties under contract from the sellers directly when they have these notices? or do I have to go to the bank? 

and are there any legal restraints that I should be aware of before pursuing this niche? 

I don't know what I don't know so any advice or info is greatly appreciated!!!

^^ @Richard Carpenter

Just be honest and straightforward with your needs and what you have to offer. It's all about relationships and creating win-win situations, so speak to your agents like you're trying to help him/her help you, if that makes sense.. but when you do find an agent that understand your mindset and your needs, I recommend giving him/her this guide! perfect for the investor - agent relationship 

http://www.biggerpockets.com/files/user/brandonatb...

Awesome, thank you for the advice everyone! i really appreciate it!

So I've decided to start marketing to out of state owners by using direct mail but I'm still not exactly sure how to go about dealing with owners that I may possibly not even meet.

If a seller calls me and wants to sell me their home, how do I get the contract signed and how would I go about looking at the property? 

Do I fax them the contract when they accept my offer? or do they fly out here? 

If any one has experience dealing with out of state owners please let me know if you have any information or advice!!  I would appreciate the help, Thank you!

@Tee S. Welcome to BP, and yes I've heard about them, I believe they are another company trying to sell you something that you don't need to buy. Everything you need is right here on BP, all you need to do is dig around for the information and ask the right questions. I recommend listening to the podcasts, they contain a plethora of advice and information.  Goodluck with everything!

Well what are your goals? Wholesale? Fix and Flip? Rental?

But in any case, do your due diligence and see the current condition of the property and figure out what the ARV (After Repair Value) will be by looking at the COMPS (recent sales of similar properties). This will help you get an idea if there is equity in the property and see if this is a good deal or not. Since they are asking for less than what is owed, make sure that they have extra money to pay off the rest of loan so they have the ability to sell the home to you, assuming this is a good deal. if the property is underwater, you might be able to consider a shortsale. Good luck Chris!

@Account Closed good luck with wholesaling!