All Forum Posts by: Leroy Williams

Brennan,

Thank you for the information. I'll contact them.

Leroy

Hi Team,

I am also looking to build a team in the Valdosta area (my home town until I joined the Army). I've recently negotiated two seller finance opportunities in the area, but like in most places/states I've invested, need an experienced real estate attorney/title company familiar with creative finance closings (seller finance, subject to, and wrap mortgages). Any help would be appreciated.

-Will

Hi Team,

I am also looking to build a team in the Valdosta area (my home town until I joined the Army). I've recently negotiated two seller finance opportunities in the area, but like in most places/states I've invested, need an experienced real estate attorney/title company familiar with creative finance closings (seller finance, subject to, and wrap mortgages). Any help would be appreciated.

-Will

Lionel,

Great questions. Actually she had made the initial call to the bank about the possibilities of restructuring her loan. She was "months" behind on her loan. They agreed to restructure and not foreclose. Simply put, they moved her arrears to the back of the loan and lowered her interest rate. The $5000+ was for closing cost and 1.5 months mortgage back payments. The owner received no money.

Hope this helpful.

Thank you all for your support. Scott Gaspar I may have another prospect you are free to take a look at. I'll connect with you and send you the details.

Investment Info:

Single-family residence wholesale investment in Fayetteville.

Purchase price: $10,000

Another closing on a home that took more than a few months of negotiating a solution to a seller's situation. Seller experienced numerous issues that prevented them from renovating and selling this home on the MLS. We "finally" reached an agreement. After finding a flip & fix expert in my network, we were able to close last week. Home should sell quickly in a transitioning area.

What made you interested in investing in this type of deal?

Saw this vacant property and decided to reach out to the owner.

How did you find this deal and how did you negotiate it?

Tracked the owner down after speaking with other family members.

How did you add value to the deal?

Solved a seller's life situation problem with a home they had little to no funds to renovate.

What was the outcome?

Sold my equitable interest to a cash buyer that loved the area.

Lessons learned? Challenges?

Negotiated this transaction for months due to a number of reasons. Follow up is the key. What may not work for a seller today, may be different tomorrow.

Investment Info:

Single-family residence other investment in Hampton.

Purchase price: $204,000
Cash invested: $5,025

I've was in negotiations for a little over a month with the seller. Due to a particular life situation, she had become overwhelmed with mortgage payments and couldn't consistently pay on time. She was "months" past due and didn't want to destroy her credit worse than it had been. We spoke. I educated her on how I could assist, and we moved forward. With a little clean up and minor repairs, my team will have this home available for a deserving family facing a different sort of life situation.

What made you interested in investing in this type of deal?

Opportunity to help another family. Low financial entry to barrier.

How did you find this deal and how did you negotiate it?

Cold calling.

How did you finance this deal?

Personal funds.

How did you add value to the deal?

Assited in finding a solution to a seller's life situation. Will ultimately provide a home to a deserving family.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Reputable real estate attorney in the Hampton Roads area.

Investment Info:

Single-family residence other investment in Hampton.

Purchase price: $204,000
Cash invested: $5,025

Another successful trip to Virginia. I've been in negotiations for a little over a month with the seller. Due to a particular life situation, she had become overwhelmed with mortgage payments and couldn't consistently pay on time. She was "months" past due and didn't want to destroy her credit worse than it had been. We spoke. I educated her on how I could assist. Even let her speak with families I've helped in similar situations. Once she was confident I was the solution to her problem, I couched her on negotiating the restructure of her loan. This process was key to providing relief to her and securing the acquisition for me.

With a little clean up and minor repairs, my team will have this home available for a deserving family facing a different sort of life situation.

#subto
#renttoown

What made you interested in investing in this type of deal?

Opportunity to help another family. Low financial entry to barrier.

How did you find this deal and how did you negotiate it?

Cold calling.

How did you finance this deal?

Personal funds.

How did you add value to the deal?

Assited in finding a solution to a seller's life situation. Will ultimately provide a home to a deserving family.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Reputable real estate attorney in the Hampton Roads area.

Mitch,

Appreciate the input and all variables mentioned are already known.

Thanks.

-Leroy (Will)

Justin,

Thanks. I'm always available to offer my perspective. Typically my aquisition strategy is subject to or creative finance, but I will wholesale a few depending on the circumstance and certain variables.

By the way...congratulations to you too.

Leroy (Will)