All Forum Posts by: Alex Madison

A wholesaler contacted me a couple weeks ago saying he works with invesdoor and that he could get me deals in my area. He said they would send me an email if I wanted to just register myself and that he could send me wholesale deals. I figured even if it's 1/1000 chance of being legitimate, why not?

He then sent me a non circumvent form, which I don't mind signing but I was wondering if anyone here has any experience with them. I'm not doubting that it's a legit company, but I'd be more comfortable if someone here has any info on it?

I was talking to a couple of agents who specialize in short sales and they both seem to be under the impression that in 3-4 months the banks are going to drastically limit the number of short sales they allow.

They're not the only ones who have echoed this sentiment. My question is for people who deal with a lot of short sales, is how do you think the next few months will pan out?

I know no one has a crystal ball, but do you think it will be worth it to still market to 60/90 day lates or would it be better to focus on other areas if the case really is that the banks wont be allowing as much?

Hey Chris,

I may have a buyer for this property. Please PM me for details.

Thanks for the reply guys. In your experience, is there any difference in call quality from 60-120 days late?

I'm assuming the 30 days may not be as motivated since it's easy to miss a payment whereas a 90-120 day late is in a bigger bind? I was also wondering where you guys order your lists. I know many people recommend on this site getting it from the credit bureau, and I've seen a few sites recommended. Just wondering if anyone else had good experiences with certain companies that they could recommend here.

So I'd like to start marketing to short sale prospects, but I'm a bit confused as to what the difference is between NODs and 90 day lates. I've seen people on BP suggest marketing to 60, 90, or 120 day lates.

Once a person misses three payments, the property is in notice of default, so aren't NODs the same thing as 90 day lates? There's a service in my area that publishes NODs, and I've marketed to them before, but it seems as if they're all bombarded with a bunch of mail from other investors at the same time.

I've been thinking of maybe just getting 60 day lates and perhaps getting to them a month before other investors do? I'd love to hear experienced BP members thoughts on this.

Thanks for the reply Bill, that's all very good advice and I will definitely get him to do those things!

Derrick, I can PM you and put you two in contact.

Hey Lance,

I'm not sure what the property is being used for, but I can give you my friends information if you'd like. He's trying to get comps and figure a price to sell it at. I know that he does want to sell it, but he may need a little time first.

He has an empty lot (you read that right, in Manhattan!) that he's owned for a while and he's interested in putting it on the market. Problem is, he's not in real estate and doesn't even know where to begin.

It's a pretty specific property, I mean it's really only available for an investor who wants (and can afford) to build on it. I work in Queens mainly, so I don't really know the Manhattan market of any agents at all. Anyone here have any experience selling commercial properties in NYC? Also, if he is to look for agents, is there any way he can try to narrow down agents with good track records who can help with a specific property like this? Any help would be greatly appreciated guys, thanks!

Thanks for the info, Chris. I'll definitely keep that in mind.

So if I have the property in contract, I could theoretically hire an inspector to make sure everything is up to par, even with tenants inside?