All Forum Posts by: Michael Gayer Jr

@Mark Guagliardo , I have the best of intentions with this, but I can see how people would capitalize on others hardships.  I am a newbie and asking for advice from more experienced investors and am learning tremendously.  Thank you for your insight.

@Brian Gibbons , thank you for your insight.  Question:  Do you recommend going with a percentage or flat fee to go to realtor?  Would you be so kind as to what deals with Agents have worked for you?

Your perspective is appreciated.

Thank you in advance.

@Ralph R. , thank you for your insight.  Can I get clarification ... A buyer cannot buy a house to live in on owner financing?  (For example a Lease Purchase or Contract for Deed)

Thank you in advance.

@Loren Clive , thank you for your insight.  Question: If I find a lender who is willing to loan in my company name/entitiy, would there be any potential problems?  I'd like to establish credit in my business name/entity.

Your perspective is appreciated.

Thank you in advance.

@Loren Clive , thank you.  Question, if the default gets cured and foreclosure is cancelled ... Could a they sell their house with a Mortgage on it on Seller Financing?

Your perspective is appreciated.

Thank you in advance.

@Mark Guagliardo thank you for your insight.

@Mike Cumbie , @Loren Clive , I definitely do not want that!  I opened up this discussion with the best of intentions to help give distressed sellers transition money from property that they've been paying for.  But I can see how a person with no conscience can take advantage of others.  I will have to find another way.  How have you handled working with those in pre-foreclosure?  I would appreciate your perspective.

Thank you in advance,

Mike

@Loren Clive, thank you. I was thinking about buying on Contract for Deed. Plan that if I can't sell Retail on the MLS, then I could sell to a buyer on an installment (to avoid holding costs that eat away at profit, and get property off my hands). Plan to make the down payment much less than 20%.

What is your perspective?

Thank you in advance. 

@Lloyd Stanton , no worries! Again, I thank you for being a "watchman" against those in Real Estate Investing that do unethical things. I am new, so I only know what Ive discovered.

Would you suggest a Local Real Estate Attorney, or a non-local Attorney who can find out about my state's laws (if they come highly recommended)?

Thank you in advance.

I had a family member lose their house in foreclosure after 25 years of payments. She could no longer make payments, she "shelled up" and didn't say anything to the family, didnt seek help from professionals,  ruined her credit, owes a deficiency judgment, and is embarrassed to be around family members and friends who later found out the house is gone. She opened up to me after things already happened. So @Lloyd Stanton , if an investor came to her and stopped foreclosure and split the profits of the sale so she could have money to transition to a better situation and avoid the deficiency judgment & ruined credit ... Id be grateful. But if it's against the law, then it would have to happen another way. But I am no predator who wants to pressure people and take advantage of them. But I really do appreciate your willingness to "call out" those who would. And I thank you for that.