All Forum Posts by: Dale T.

The person making the call and talking to the bank can be any place. I have worked with Guys in Cali, Vegas, FLA, and Mich. and I am in Ohio. Your partner can be anywhere.

I have a bank that offered up a note for a property that has an Auction date. I have a buyer lined up. What happends to the auction when I buy the note and filp it to a new buyer? Will the bank stop that auction date? Or do I get the lawyers,auction date and Lawyers fees and court fees that go with it. Is all of that turned over to me now? Thanks

jared, I sent you a message via BP with my contact info. Thanks

Hi all, I was calling the bank for a note that I wanted in my area. It was very easy to get to the right Dept. because it is a smaller bank. My contact at the bank asked me if I wanted 16 NPN's that she wanted to sell also. But not in my area. I told her I would look into it and she sent me the addreses. I am use to doing short sales and really do not know what to do with these if anything. Any ideas? or should I just walk away from them. I do not know the prices, she just said make an offer/bid on them. Thanks

What about just getting the deed like a subject to? Is there a reason not to use that method? thanks

Hi all, If I were to buy a note directly from the bank, Then how do I figure what to offer. Does the bank do a BPO? Or are they taking the value from the amount owed on the note. If the Value of the House is not near what the House used to be worth, then is the bank going out and appraising the property before they sell the note? I am used to doing Short Sales and they always do a BPO to see the current value is. Is this done with Notes also? Thanks

Anyone have any good ideas to get the value of the BPO changed that was just completed? This agent went to the Property and Jacked the amount of this house so high that I can even imagine where she pulled comps from. The bank did an exterior drive by also and actually came in lower then her.

But now there is no way this will ever sell. Wells and a few other banks have dispute dept. but I do not think Chase has one.

Any Ideas how we can get this down? We sent in comps and an offer an it was flat out denied. I either have to wait 90 days for the next one or come up with a better idea. Thanks

I am used to doing Short Sale flips such as the A to B and B to C. Weather it be financed or Cash deals. I was wondering if you can do the Same with a Note. I have a file I am working on and can buy the note on it but did not want to tie up that kind of cash and did not want to hang on to it. Is it possible to flip this note? Is it dane the same way? or do they not give you enough time to do this. I am talking about a Flip with no money in it from my side. Thanks

I was not sure if this can be done like A Short Sale Flip? An A to B and B to C type of Flip. Any info on this woul be great. Thanks

I know you can make good money off of Buying seconds But what if you cant move them? I have a hard time thinking banks that buy seconds like Greentree etc just lets these go to foreclosure if they do not get there 5% amount out of it. I recently had one where they were the second and wanted 17K on this house (5%) or nothing. The First offered them 5K and they refused. Was not a deal on my end to give them anything more then what the 1st said they would. So they let it go to Foreclosure! So my question again is why?? why would they or anyone buy these if you were going to lose any amount of money?

Heck, why not take 5K for it? They probably only bought it for a few hunderd or so in the first place. Is there money to be made at the Auction? If your in the Second Lien Position? I always thought No. Is there insurance covering these? I cant think Why they would? Thanks