All Forum Posts by: Les Williams

I'm commin in late! But thanks for the tips. Not only do we have to make sure they have a license and insurance but that we do a contract
and dont let the money get behind you.

I didnt know there was a lien waiver. (Good to know)
The 25% payment for 25% of work done, Is good too.

I think before you bought the property you would have known the rent was $350 a unit. This is when I would have ask management if they would be able to manage these units. This is when they should have explained they were looking for $700 and not $350 units.

I would eat that $1500 and have another contractor tommorow.
From now on contracts!

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Originally posted by "Ohio Realtor":

What are you talking about?

Someone who needs help with credit tradelines.To boost their credit
they will pay money to piggyback on another persons credit account
as a authorize signer or user for 90 days.

This is called piggy backing!
This has been known to boost credit scores real high. I havent seen it
is why I'm asking the question.

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Who's heard of this before? And is it a good thing to do. I hear its the next
best thing. But, I have a hard time believing it.

Who in their right mine would allow
some one to piggy back. And what are your chances that they cant get your card info and use more then what they paid you for this service.

Please inlighten me if you have some spare time.

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Does anyone no were I get the public record for pre-foreclosed properties
In Phoenix Az...it should come out once a month and be listed in a public
news paper. But all states have different rules and reg's... :mrgreen:

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Is it true you as an Investor in AZ. You have to wait 90 days to sell your property or they make the buyers take a higher interest rate...

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AmeriDream Mortgage Group inc
Dunwoody, GA 30338
Leslie A Williams
404-957-9743 cell
770-986-1489 off

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Originally posted by "Minna":

So after doing my homework, placing ads,etc, I finally got a call from a lady in foreclosure. I have the comps at 230-250, she says she needs 160 to get out of the mortgage, and wants some cash to start over. She says all the house needs is a couple of new garage doors. I am going to see the place this wednesday morning and would like to make an offer on the spot assuming there really is no significant work the house needs that would kill the deal. In my mind I've maxed it out at 180 minus any work. We discussed some rough numbers and she's open to it. So now what? I go with a contract (with an inspection contingency), and just ask for the deal? If she does go for it, do I need to give her a deposit? Does that go directly to her, or does it go in some escrow fund or what? I can enlist the help of a realtor with the contract, in exhange for letting the realtor sell the property later. Or should I just ask my lawyer for his help instead? Am I missing something? please help - despite lots of offers this would be my first deal and I don't want to shoot myself in the foot.

If you decide to go with this property and Hopefully the 160k Includes the back payments and any attorney fees involved. Depending on the stage of the foreclosure. Your seller should have a reinstatement letter from his/her mortgage company or their attorney. this letter explains what the seller owe's and how much the seller needs to bring her mortgage current. Have the seller fax this letter to you with sellers current payoff.
this way you will have a true payoff to determine if this deal will work base on the (ARV) $250-(sellers balance and walk money) $180.

:mrgreen:

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All Forum Posts by: Les Williams

Les Williams has started 13 posts and replied 198 times.

Post: Newbie Wholesaler in Atlanta

Post: Delaware Condo & Townhouse Agent

Post: Tallahassee real estate agent wants your business

Post: Problems with contractor dragging his feet on repairs

Post: Piggy back on credit for profits!

Post: Piggy back on credit for profits!

Post: Arizona Investment Pre-foreclosures

Post: Arizona Investors, I Heard

Post: Mortgages, Licensing In GA. AL, S.C. & Florida

Post: Got a live one - now what?