All Forum Posts by: Marco Petit

@Marvin McTaw Thank you for all of the help! I will definitely keep everything in mind!

Hi and welcome to BP @Tashana Baker I'm in your backyard so hopefully we can work together some day! Good luck!

Good question. I'm interested in the answer as well. 

Great job Rocky! I'm loving the pictures!

I found this deal on the MLS that was a home run! I put in an offer through my realtor last night as soon as I saw it. My realtor called me today telling me that the property is in the process of being foreclosed on. I was thinking that maybe that I could buy the redemption rights from the seller. Has anyone done this before in Florida. Is it feasible? If so, what are the steps?

Thank you in advance!

-Marco

There should be a Notice of Default or Lis Pendens depending on which state you're in. It means that the homeowner hasn't been paying on there note. When you're looking at the court documents you should look at the complaint. That should have in it, the original amount, the arrears (amount they have been behind) and the payoff. With that, be sure to include your attorney fees and the like. 

Good luck! 

Welcome to South Florida! There is an attorney that is associated with the Palm Beach Real Estate Investors Association that I go to. The company website is www.TitleTrustServices.com and the attorney's name is Luke Rossknecht.

Happy investing @Tim Healey

@Marvin McTaw @Paul C. Thank you so much for the help with that particular deal! It need up not going through. She was stuck on her number so I believe she's just going to list with a realtor. Ultimately, she wasn't motivated enough.

Thank you Marvin. 

I've been on Zillow and a software I have to get that data. Zillow throws out a number, but idk how accurate it is. Also, the community is relatively new (2006) so maybe no one has sold there yet? 

For my exit, I plan on catching it up (only 2 months in arrears), selling it, and splitting the equity, if there is any. I'll find out more tomorrow. 

They're going to get a payoff statement and everything faxed to them tomorrow. Hopefully I could figure exactly what the options are. 

-Marcco 

I need a little guidance on this deal. I got a lead to a very motivated seller in Atlanta, Georgia. She is two months behind on her mortgage and may have a couple of liens on her property (HOA, Utilities, etc.)

She wants to sell her house ASAP. It's a 4/3.5 built in 2005. I want to get her caught up and split the equity when it sells. Hopefully there's not any major structural things that need fixing. I need some clarity on a few things though

1. I live in south Florida. I want to see it, but it doesn't make sense to go up there

2. I can't find any comps on the property

3. How do I find a good agent in the area to help me with the deal?

4. Any other details I may need to get this thing rolling.