All Forum Posts by: Purva Mehta

@Lydia T.

Lydia T. Thanks for offering help. I will pm you and if we can connect that will be great.

 Effram, absolutely, thats my first choice, but what I am not sure and the loan service company (calling foreclosure) will not reveal if the lender is a financial institution or hard money lender. I am concerned if its a hard money lender they will trigger due in sale clause. 

Thanks you all for your valuable information. This really helped.

Hello BP family, I am looking to work with individuals who are PRO in writing residential contracts for 1-4 family with the state of Texas. I am currently looking to acquire some 1-4 residential properties and in my effort to extend my network, making a post here.

Greatly appreciate any advice and/or comments

Thanks

Purva

Hello BP family, I am currently working with a residential property owner who is about to enter foreclosure proceedings. I was initially thinking of a lease back option, but reading through some of the forums it seems like that is not a good idea!!. In that case I wanted to know what offering can make him motivated to sell the property to me v/s other investors.

Also once I buy the property and if the property owners turn hostile, what are my options? I really want to connect with someone who has experience in buying properties pre-foreclosure, preferably in TX, as I understand TX laws are different then lot of other states. I would greatly appreciate if someone will be willing to share some words of wisdom. Thanks family

@Alan Brymer

Wow Alan that was quite and insightful post on issues with lease back. I am currently trying to acquire a pre-foreclosure property and was considering a lease back option to the seller, but your post has changed my perspective.

Thanks for the time and effort to share your thoughts and experience.

Loved the little humor you had in there.

Thanks

@Dylan Eldred

I am here at Kirbys. Is the event still on for today?

@Mike Hern thanks Mike for the information. Can I get an authorization from the property owner which will let me talk to the mortgage company.

Hello BP family, I am trying to get my feet wet on understanding the process channel to acquire a property pre-foreclosure. I understand the first step is to get the information to reinstate the delinquent loan on the subject property. What is the best way to go about getting the information on amount required to reinstate the loan. My personal experience is the trustees or the mortgage company will not directly share this information with investor. Unfortunately, the property owners at times are just so stressed out and sometimes just careless to not get that information either. What is the best approach as an investor I should adapt to get this preliminary information?

Any thoughts/suggestion/advices are greatly appreciated.