All Forum Posts by: Matthew Smith

I am also in Plano! Would also love to connect with local investors to chat!

Thank you @Bob Reinhard!

@John Farady

Hey John,

That’s completely understandable, just was curious. Thank you!

Hello all,

I wanted to know if anyone had looked into obtaining data on properties which the owners had applied for forbearance on the mortgage. I realize COVID is a tough time for many but to me this seems like it could be looked at as almost an extended pre foreclosure and wanted to target some areas in my market with direct mail using a list of mortgages in forbearance. Would I be able to perhaps reach out to title companies and compile listings in that manner? Or is it mostly private information? Also is this perhaps too inconsiderate given the times? Thanks in advance!

@Taylor L. thank you for your response, that's definitely encouraging! Yeah the goal with this new job was to be able to afford me more time and capital to pursue real estate more seriously, I am up for the challenge to get more creative. Thanks again! 

I am a new investor so pardon my lack of knowledge but, I recently came across a great job opportunity in my 9-5, however given the nature I am NOT permitted to purchase REOs from FNMA, or purchase homes in short sales or other foreclosure auctions where the home is secured by a FNMA-owned loan. I primarily am focused on flipping homes to generate capital to invest in small multifamily rentals, and eventually move into large multifamily.

I realize FNMA is a huge part of the secondary mortgage market but I wanted to get y'all's opinion on just how much these stipulations would hinder my ability to achieve my investment goals? Any advice would be much appreciated as I am new to this I am not sure how much this would effect the normal course of business.

 

Thank y'all! I appreciate your perspectives! I did reach out and ask about the nature of the transaction as well as what they think a contract would look like in this case. Haven't heard back but I agree seems odd. 

I will start by saying I am a new investor and am casually browsing for deals but admit I am by no means experienced. I found a property that is a for sale by owner property (4 bed, 2 bath), it was listed at maybe 1/3 of the price of typical houses in the area (I live in the area so have somewhat of an idea on prices). I reached out to the owner and he is requiring a year rental before purchasing. I ran the numbers including a hefty chunk of repairs even though the property appears in decent shape, and it seems like a great deal. However, being new to real estate investing I feel like I am missing something, I don't understand why the hefty discount and why the rental clause. Has anyone seen something like this before? Am I missing something or is this a good deal?