All Forum Posts by: Lamonte Evans

@Account Closed I gathered that 17k in delinquent payments was included in the 306k. But none the less based on some serious work done today I was able to see that this one isn't the right deal for me at the moment. gathered much information and actually learned through the process but i am choosing to wait and find a better deal.

Do private money lenders exist in Southern Cal or anywhere for the most park that will finance the deal in its entirety? Including the down payment and rehab costs?

Or is this where a partner with capital comes into play?

@k. marie poe Thank a lot for your input, I'm pulling tax and title info today and will see where that puts us. Crossing my fingers nothing unexpected pops up.

K. Marie Poe I appreciate your instincts :) but in this particular case first and foremost i need to help the seller, she is a close friends grandmother. So i am trying my best to include something ($) in it for her so she can move peacefully and easily.Can you explain what exactly you mean when you say "reinstate the loan". Because i have read numerous times of that when doing subject-to deals the bank can call the money due on the mortgage and forclose.

Tim G. I dont have that information in front of me, I just got wind of the deal earlier this morning and am doing as much due diligence as we speak. But I'm trying to determine which exit strategy would suit this deal best and if this deal is worth my efforts. I am a new investor so I am also careful not to bite off more than i can chew, so all of you guys advice and opinions are greatly appreciate.

Yes I was aware but i was told it is very unlikely this situation would occur as long as the bank is getting their money.

I am confident that with 35k-40k the repairs could be completed in a timely fashion.

I currently do not but have private money that i have access to for the right deal.

Thank You for the timely response Tom V.

A deal was recently presented to me from a family friend looking to sell their home to move. The home is located in the San Fernando Valley with comps in the neighborhood ranging from 475k-490k. It has 3 beds 2 baths 1350 sq ft with an in ground pool. the home needs 30k-35k in repairs.

the owner has a 306k mortgage which she hasnt made payments on in 7 months totaling 17k. the owner also owes 7 grand to a contractor for previous work done but not completed.

she is willing to sign the deed over to me if i would agree to catch her up on her mortgage and give her something to walk away with (40k).

I would take over this property with the intent to live in the home and rent the other two rooms out.

Please tell me your thoughts on this deal. I am a new investor and would love to hear your feedback and weather this is a good deal or i should keep moving.

Thanks Everyone

Hey I've got phoenix wholesale properties. These properties are priced below market valley and ready to sell.

I also have a great Columbus Ohio bulk deal that has great cashflow potential. The bulk deal is priced very very well. Instand $390,000 in equity. Please contact me.