All Forum Posts by: Elizabeth Einecke

Making offers right now on REO properties. I will keep everyone posted on how things go.

I subscribe to sitexdata.com. It is not cheap but it allows you to run property reports and get comps.

Thanks for the post! I was a teacher for 17 years before taking the plunge to full time investing this past summer. I bought my first house a month ago with a money partner/friend. We are halfway through the rehab. These past few months have been an amazing learning experience. Getting my first deal really boosted my confidence. I now am ready to take another plunge with making offers on REO properties. I am in the process of getting a preapproval letter from a hard money lender and will then begin making offers. The whole thing makes me nervous but at some point you have to trust what you have learned and just GET IN THE GAME! Congrats on your rentals properties! happy Investing!

My limited experoience has been that realtors are very happy to provide you with comps. I also subscribe to SiteX which provides property reports/comps for a monthly charge. You might also establish a relationship with a title company. They may be able to provide you some help.

Thanks John!

Hi all! I just signed my first contract Monday night with an owner in default. I found an investor to assign the contract to the next day. The more I think about it, the more worried I get.

I used a California Equity Purchase contract which includes everything BUT it does not mention anything about possibly assigning the contract. Since the financing is going to be subject to and the end buyer will be making the payments, I'm worried the seller is going to freak out.

How much will the seller be aware of at the close of escrow? Will they be aware that I am assigning the contract?

If so, I feel like I need to disclose that to the seller. I didn't not disclose it on purpose, I just didn't really think about it until after. Maybe I am worrying over nothing. Any feedback would be appreciated!

Thanks in advance!

All great points! Thanks for the replies everyone!

Hello All! I am going to begin making offers on properties tomorrow(GULP!) and I have a question. Should I make offers through a realtor that represents me OR should I send my offers myself through the individual listing agents? Any advice on this would be appreciated!

Thanks for the reply Ryan! How do you go about finding a title company that is familiar with double closings? Is their anything "illegal or shady" that would prevent any title co from doing a double closing?

I have been looking at several below market REO properties in my area(Northern Ca). I know that lenders will not accept contract assignments on REOs. Could a double close work if I got an offer accepted by the lender and had an end buyer who wanted the property?