All Forum Posts by: Rasheed Hope

 Yes it works but if the property has a seasoning period i don't know anyone that'll have funds in limbo for months to recoup investment.

On a resent deal I'm involved with now my buyer submitted a hard equity pof and the offer was accepted on a VA property so the pof works but they also wanted a bank statement from the actual buyer.

a contract is usually binding between the seller the buyer and their heirs. If there was a legal contract in place before the sellers death there shouldn't be a need for probate from my understanding of Florida law... It may be different else where.

Depends if they have an agent or not and if they're paying the buyers title insurance policy.

welcome I'm here in Pembroke Pines let's connect

You can submit a copy of a check to get an executed contract but the entire earnest money deposit will be due in no more than two days.

As for wholesaling REO's it is possible but usually takes more than just a letter from a hard equity lender. Sometimes they'll want to see an actual bank statement. As for using transactional funding to fund the first half of the deal, that would be difficult do to the fact that there might be a cooling period in which the property may not be able to be resold. I'm guessing that's why you're hearing you could just sell the llc.

Is it just me or are entities like Fannie Mae and HUD listing there assets at market value more frequently nowadays?

I constantly see homes that are bank owned listed at market value even when we give a BPO for less due to the condition. The asset managers will get our BPO and still insist that the property is list higher leaving most of those homes on the market for months until they agree to reduce the price several times. The VA isn't so bad with their homes though it's like they just want the negative asset off the books.

Anyone else noticing this?

let's connect I'm an REO specialist here in Pembroke Pines

 Go to gold coast. It may be more expensive but it's worth the money

 But what if I'm wholesaling them to cash buyers do i still write it up as a financed offer? 

where can I get proof of funds for my REO flips?