All Forum Posts by: Pratik P.

I'm not sure why some people are suggesting you to get a lawyer. Type up a cancellation of agreement letter, sign, scan and send it to agent. A quick search on google should give you plenty of templates. 

I haven't participated in it and would strongly suggest against it. That 30k is better invested in actually buying real estate or marketing for good deals. Lots of better ways to spend it. 

Like Jay said, if your mom has quite a bit of cash on hand and is wealthy, I guess she could. But putting that amount on a credit card is a horrible decision. 

@Jessica Zolotorofe @Pat L. @Ehsan Rishat 

Thanks for your input! I figured that bankruptcy and begging the lender are the only ways. Just wanted to check if you guys had any other tricks up your sleeve :] 

I'll never fully understand why they wait until the very last minute. The guy told me he's received lots of mailers but threw them all away and finally decided to call ours a day before the auction...

If you guys are still looking for that list, DM me. I can run it through our system and see how many records come up

 Are you still looking for that list? I have a good source, I can run it through our system and see how many records come up. DM me if interested

Hi everyone, 

I was wondering if anyone has any good ideas to delay foreclosure auctions by even a few days?

I had someone call us today and apparently his house is going to auction tomorrow at 1PM. He owes about 380k on it and the house is worth around 520k......so lots of equity there. 

Unfortunately, one day is not enough for me to buy it. I would need at least 4 days to do title work and line up financing. I'm wondering if there are any tools I could use when something like this happens again in the future. 

I know you could file a skeleton bankruptcy, but he already used that card.....I told him the only thing he can try is to call the lender and ask them for a few extra days so he can try to sell it to a buyer....

@Kuang Lee Rental market is strong but it's tough to find properties that will cash flow unless you start off with a lot of equity. 

If you're open to buying properties that need work in order to fix up and rent, I may be able to help. We buy fixers and re-sell to investors sometimes.

@Calvin Rankin @Vinay C. @Bertha Jaime

I have a good source for tax delinquent lists with an equity filter. We use it for our direct mail campaigns every month. DM if interested. 

I've approached my county and bought one of their ridiculously priced CDs. It was so badly organized and literally had 400k+ properties on it?? Waste of money lol

I didn't like REI rail. We really tried to make it one of our primary marketing channels but it was flawed.

Yes that is a norm in competitive markets, not just wholesale deals. Every serious investor I know of can walk a property and make a non-contingent offer on it within 24 hours. It shouldn't be a problem if you know your rehab costs well and you're giving yourself some "oops" cushion when you run your numbers. 

It doesn't matter if you're a wholesaler, flipper or whatever. To be the most competitive offer, you have to make non-contingent offers with a solid EMD.