All Forum Posts by: Shareef Wiggan

HI all fellow Biggerpocket members. I have come to the conclusion that finding an owner of a building for sale is like finding a neelde in a hay stack. I am still pounding the pavement and doing my due diligence through my network of contacts in RE to find that little needle that i am so desperately searching for. I have half of the equation of a good deal which is a buyer that really has the collateral to close quickly. It is just hard to find that second half of the equation. I feel like I am in statistics class all over again and can't find the answer and failure is not an option Can anybody give me some type of advice or information with other stratergies that has helped them through the same or similar perdicaments.

In New York you can find lenders the do assignments. The only problem is that the contract has to be drawn up a certain way. Lenders tend to stay away because either they have not done one before and also they are scared of the repercussions that can come from such a deal if it is not done right.
Most times a FSBO will not have equity in this market due to the depreciation of home values in the current market. Because the seller is trying to get as much as possible to actually come close to breaking even or coming out on top. You would have to sort through a lot of FSBO properties to find a motivated seller that either is in trouble or doesn't know about the appreciation of there market area.
I have a couple of investors in NY that have done assignments and it was a hassle for them to.

I wanted to know what are other people charging for selling preforcloser records to companies? Mainly at whole sale. Cause I have been trying to figure this out to see what the price would be.