All Forum Posts by: Marc Donovan

Agree with J Scott. That is how you handle small banks. Another idea is when you meet, offer to take them to lunch in order to "discuss what types of business the bank is seeking." You are basically offering to share your connections, which are very important to a banker. The information you will get and the connections that you will make will be way more than the tab for the lunch.

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Agree with Brooks. The balance has no bearing on your offer. It is worth what you can show it's worth. Make your case with comps (plus commissions, fix up, etc) and don't worry about what the bank is owed.

Meet the BPO broker at the property, or beforehand and hand over your proof documents.

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http://www.irs.gov/irm/part25/irm_25-001-007.html

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Your landlord committed fraud, which is criminal. Call the DA and tell them what happened. Your "LL" will be doing hard time soon. Don't tip him off.

You have 90 days under PTFA and this starts after you get a notice from the bank. Sit tight and wait for the notice.

If you get served for UD by your "LL," file a written response noting that the pliantiff does not own the property. Include a copy of the deed. Also file a motion to dismiss for the same reason.

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Call your section 8 inspector. They will make the tenant pay to fix the place. If they don't fix it, they can lose their voucher. Obviously, this will cause a default and you can evict and get a jugement.

Another thing you can do is to threaten the above and get fixup money from them. You have the upper hand here, so use it.

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You need a securities specialist attorney.

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rentometer.com works well

They are buying a ton of foreclosures at auction in St Pete, FL. They are bidding up the prices to beyond retail. I gave up on bidding and went back to buying REO's.

I've done a ton of these. The key is to talk to the park manager and convince them that you will take their junk and make it produce lot rent. Most managers will give you home for free if you can convince them that you are the real deal. Offer to take the junkiest one and prove what you can do.

I usually work out a moratorium on payments while I fix it up, so I am only in it for materials and labor.

If I got that letter from you, I would call you - provided you added your experience like Ann said. Even if you said you didn't have any experience, I would want to see what deals you had in the works and get on your to-call list when you had one that would meet my criteria in the future.

I would welcome also a pm if you had something that made sense, but I think everyone on here would like that, regardless if they had cash-on-hand or not.