All Forum Posts by: Kris Haskins

Hey Patrick, good ole Burg, that's where I'm from, I'm missing it there as I get older. I wouldn't say you're doing anything wrong, it all depends on your exit strategy. I c ur a realtor, I'm not but I do get paid when my broker friend lists a hosue I bring in. Now, regarding equity, some have it and some don't. If you're looking to do a pre-4closure deal, equity is only important if ur looking to buy then sell it, or wholesale it. My goal for these types of leads are to ie. get the deed and take over the payments OR, negotiate a shortsale with the lender and then buy it. I love that strategy because I sometimes get immediate possession. But, even if neither one of those work, if the owner lets me in the house, then when I bid at the 4closure auction, then I've been inside and I know exactly what work needs to be done.

I love bidding on the steps. Where else in America can instant equity be created? I've seen loans discounted over $100k at the steps. I'm sure other opportunities are out there, but I've never seen this type of wealth created in a split second. Most of the horrible lenders have already been bailed out so it's of no importance to them anyway. Literally hundreds of thousands of dollars of equity can be created within the foreclosure process. It's mind blowing if you think about it. I know you'll do well. If this info helps you in anyway, pls vote for my post... thnx

Hey Luther, it's good to see you're seeking knowledge. We all need more of it. All investors have a favorite type of lead. For me, i love pre-foreclosures. These are the houses that are not yet at the courthouse steps, but are going there soon. I like to knock on their door, or send them a letter. You can strike a deal with the seller before it goes to foreclosure. These peeps are very motivated to save their credit so you can mold a good deal. You can find these sellers in the local publications. GOod luck and if this info helps you in anyway, pls vote for this post... You're going to be great...

hey chris welc8me. I know ur gonna do great things. Im hosting a renovation walkthru a my latest flip in hampton next sat. U can join my meetup at meetup.com look for the real estate roundup. We hv some free trainings for uas well at www.therealestateroundup.com as well. C u soon....

yes, you could sell the LLC, but that's a lot of red tape. It can be done, and YES, you can be the beneficiary and the trustee. I have a lender up here that requires that. the id is your social sec. #, no problem... the pof, in my instances, are in the name of the beneficiary. always remember, the trustee is merely a pawn, just like in chess. They are out in front, while you, get all the benefits hence-beneficiary. either one of these can be changed at any time. very simple...

Peter, when using a landtrust, yes you could get an id# for it, I never have but my attorney can do it. When I assign my bank REO's, i use land trusts. I'm wholesaling a short sale now in a land trust. If I must use an id# I just use my Social Sec. #. Since you're the beneficiary, you're the owner. SHouldn't be a problem. I'd love to see how Joe is going is assignments as I've seen peeps do it in their name, then do a double closing. Or add the new buyer to the contract, let's see what he says,

Hey Joe, I love your posts, I can tell you're knowledgeable... tell us how you're assigning your bank REO's these days?

wow, the issues and delimma wholesalers go through, Didn't used to be like this. We're buying houses in trust every month. Matter of fact, it's the ONLY way we buy. I've had my attorney close the deal with us being the original beneficiaries and trustees. Then, the next day sell the trust to another party or deed it to them. What's your main issue? is it that you don't want to give them your beneficiary and trustee name? I don't see a real problem as you can change them at any time, per the trust. You may not want to let them know as they could cancel the sale.

ANother way we've done this is to add the buyer to the purchase contract, then quit claim yourself off the deed after closing . I wouldn't be to upset, just another small hurdle, you're going to get this thing closed, no prob. If any of this info helps in any way, pls vote for this post.... Make it happen...

I was driving by pre-forclosures the other day looking for my next deal, and the owner simply left the property with the front door wide open.

So, we just went in..

crazy video...

http://youtu.be/UbB70gT227s

hey bro, you sound like you legitimatey want some advice. Let me tell you, being an ex-Homevestors franchisee myself, There is some bad advice on this post. I won't name who. .. HV gave us a franchise agreement. there was a full page of words and word phrases they have trademarks on. I know how powerful their attorney's are, I will not get into what words they own, I'm sure you'll find out soon.. But let me just fill you in. They have a full time attorney on staff, They also have an entire firm in another state that combs the internet looking for guys like you using their stuff, yes even meta tags... not to mention all types of other franchisees that pay high dollar for the right to use those words and will report you... tuff battle to fight bro, Good luck... IF this info helps you in any way, pls vote for my post...

Hey Logan, you seem to be new to the game and have a lot of energy so we won't crucify you too hard. As for NJ, I started in NJ up in jersey city. I used to live right by the tunnel and I saw assignments back in 2003 but I didn't know what it was. I actually never heard of assigning a contract until I hit NJ. The boys up there are getting some serious cash from assignments.

Anywhere in the US, you can assign your rights to any legal contract, whether it be real estate or not. It just happens that you're assigning a real estate right. There are all other types of rights that can be assigned as well. I do remember that all transactions must be with an attorney in NJ so look into that as well. if you don't want to use an assignment, you can use transactional lending. we are transactional lenders as this is one of the most risk free ways to get paid quickly. Transactional lenders merely lend you the money to close your side, then get their money back once the end buyer buys from you. All in one day.