All Forum Posts by: Marquita Lucas

I will be glad when I get to that level with the lenders. I just hate having to tell these desperate homeowners its too late to help them. I will keep at it though. Thanks for your advice :D

I keep running into the SAME issue with foreclosures and that is running out of time. How do you buy time to get a deal closed? I get calls from homeowners but the auction is always at most 7 days away and in order to get a deal structured and speak with the lender it all eats away at time. What am I doing wrong because i'm tired of seeing these potential deals amount to nothing because of auction dates approaching so quickly. Is my marketing wrong? I market to the foreclosures listed in the paper as soon as I seem them posted. Please give advice

Good Afternoon all,
I received a call from a homeowner that is scheduled for auction with his home next week. I wanted to know what methods are there other than bankruptcy to stop a home from going to auction. He currently has the property listed with a realtor and I'm thinking what I can do is wholesale the deal since the realtor is working on a shortsale with the property already. Is this the road I should take with this property? I'm waiting to find out what the actual pay off is on the property though first to know where I can submit my offer but my concern is delaying the auction of the property.

I met the agent at the property on Friday and I let her know i'm an investor and what my intentions are with the property and I will be submitting and offer today so everything is out in the open and she will be paid her commission so it all worked out. My only concern prior to meeting with her was what if she didn't want to work with me since she knows i'm an investor and will be assigning my contract but since she understands my intentions all is well and I don't need to go directly to the homeowner now. Thanks for all the insight and feedback!

Thanks for your numbers break down and all the good advice. I have the keys because that's just how motivated this seller is to get rid of her house. I know I was shocked myself when she made me a copy of them.

Good Morning All,
I had a real estate agent send in a worksheet from my website yesterday about a property that she has had trouble selling that's been listed for 5 months. I'm going to go see the property this evening but I was wondering how should I handle this seeing as though the property is listed with an agent. I'm a former agent myself and if it were me as long as I got paid 2 to 3% commission from the buyer I wouldn't have a problem. I was thinking I should draw up a contract between myself and the agent agreeing to pay her 2% commission at closing but she would have to take listing off of MLS because my contract to purchase the home would be between myself and the seller right? I would assign this contract to another investor. Now of course I don't know that I have a deal yet but I would like to prepared before I meet the agent tonight. What do you all think about this? Is is wrong to go directly to the homeowner if the agent doesn't agree to it? Should I disclose my offer price to the agent? I'm thinking no but feedback is appreciated.

A really good one is cyberhomes.com. I'm an agent and I can say these are pretty accurate.

Hey I listened to you on REICLUB before! Thanks for taking the time to answer my posts. We shall see what happens. Thanks again!

Okay. The numbers are as follows: pay off $282k, comps $280k, repairs $12k, I was thinking to offer the $141k. What do you think of that? I've heard you should offer 40% off what is owed but did 50%. Should I go higher?

Thanks for all the great information. I will look at the numbers but I know for a fact she owes more than what houses have sold for in her area. So I can still wholesale this deal if the numbers work without going through a short sale process with the lender? I dont' even need to deal with the lender? If that's the case that is GREAT because they have been a hassle anyway.