All Forum Posts by: Lindsey Johnson

Hey BP,

My partner and I are door knocking, cold calling, texting, and sending mail to distressed home owners in San Diego. We are seeing an influx of foreclosure, leading to more appointments and motivated sellers. If you would like to have property that we have under contract sent to your mailbox, please DM with me your email address! 

@Nathan Williams

That is all assuming that you are trying to dupe someone into working with you. Sounds like a terrible business model. There are legitimate circumstances where quick cash is absolutely the best course of action. Foreclosure, tax delinquency, inheritance with liens attached, big capital expenditures needed, etc. I would target this audience and provide real value, not try to find an uncle to "finesse". 

@Eliott Elias

@Brett Goldsmith @Eliott Elias @Yolanda Columbus

Here is some more info:

NOD date was 9/16/22

Tried covid forbearance, but since she was tax delinquent they wouldnt offer it to her

Payoff: 101k, Conventional loan, $700 principle and interest/mo with Coldwell Banker

Arrears: 21k

As-Is value: 310k

Rehab: 35k

ARV: 350k

Rents for: 2k/mo

State: CA

@Brett Goldsmith Her goals are to get out of arrears and credit debt and tax debt. She is worried that if she sells and gets a lump sum, she will spend it foolishly (which her history indicated is a valid concern). I have not pulled a title report yet, we have only have one appointment, but have a follow up Tuesday. Ballpark, I think she owes around 100k. I want to have a solid offer to present by Tuesday. 

@Eliott Elias 

By "see what the home is worth now" do you mean get it appraised or simply run comps on it? Either way, I agree - I presented a subject to acquisition to her, just need to get the terms dialed in. Any advice on what terms to offer?

Yes the seller is open to subject to. That is the route I am thinking may make the most sense. Any advice?

Hey family,

Question on putting together a deal that I could really use some help on. I have my second appointment with a woman facing foreclosure on Tuesday. She is 22k in arrears. She is delinquent on taxes and is in credit debt too. She will be getting a notice of trustee sale in the next 4 weeks. She bought home for $160,000 at 3% interest rate. ARV is about $390k. The pain she is in is deep and I believe there is a way to structure this deal to alleviate all her pain and make some money/acquire a property with creative finance. Any advice would be greatly appreciated!! Need to get this completely dialed before Tuesday so I can present.

I have run in to this as well.. One of my partners recommended you type a text before the call saying something to the affect of “my partner Jeff will be giving you a call from (insert number)" then call them from the other number on your account. That way, it will show up as “maybe:Jeff” rather than spam. Kind boot leg, but seems to do the trick. 

Hey @Phillip Marshall,

I think the advise you got above is solid. I do not have much to add. Just curious though, being from the Raleigh, NC area myself, are you investing in Carolina Beach? How is that going?