All Forum Posts by: Mike Flora

I have a deal I'm working on with a pre foreclosure and my seller has about 11K in back payments. All cash deal and the seller wants just a little more than our HPP. The seller is calling in the morning for a loan balance payoff amount, can the seller ask for a small reduction on the balance due to gain that little extra so I can close the deal for sure and help her out of her situation on an even higher note?? Cash deal obviously.

sorry I need to be more specific.

thank you for the info. I was going to write up a seperate contract from my purchase agreement. My purchase agreement states subject to seller financing and my contract was going to state all the risks involved for the seller doing a subject to. Thoughts?

Might get a house subject to the seller financing very soon with no money due to seller in the deal, just wants me to take over. Seller just wants out and there is only about 13K in equity. Property is in good shape so my plan is to lease option the home, but when it's time to sell how does it work with my buyer? The deed is in my name obviously, but the financing is in the old owners name. How does this work? I know it's probably pretty simple but just want to be sure. My guess is loan paid in full in old owners name and deed transferred out of my name to new owner and his financing pays off old owners loan and that's that????? 

thanks for the info

I'm exhausted looking for this owner!! Have a been verified account, checked obituaries, talked to neighbors, has a couple properties that have been tax delinquent lately and neighbor of the property stated he might have died a couple years ago but I can't find a thing on his death in all cities associated with his properties and where he came from. Need guidance on finding someone. HELP ANYONE????? Pretty sure I found him on Facebook but last posts were like 2 years ago right around when the neighbors said he might have died. Property I want is vacant, and all locked up and tax delinquent. All phone numbers are dead ends and parents are dead. F@&$!!!!!!

I have heard different things but it looks like I have a fire damage home I'm going to look at to possibly wholesale/or fix and flip. Different investors have said they can be great deals but not sure how to approach the price per SQFT formula or just get a contractor or if there are different codes to be met after a fire etc. I also heard that sometimes insurance can help with expenses as well. I'm digging a lot on it today but your info will also help. THOUGHTS????

and yeah I know, I think you can figure out how they are pulling that one off.

sorry I meant open and notorious possession. I know a few guys who have done that.

I know that for the good of the community, AP law does have in it that the law must take into consideration of leaving an empty eye sore in the community for so long and what it can do to a community in a negative way. So do you know if you got signatures from multiple people in the neighborhood stating they want the place to be fixed up ASAP and want something done immediately, would that help his case at all?? Lawyers did state that the community influence does matter in AP cases. And it's been a very long time on this property and could be at least 6 more years on it before it would even go to auction if no one paid taxes on it. Thoughts??? Still sounds like a crap shoot on that but maybe you know something?