All Forum Posts by: Account Closed

Hey, 

@Wendy Bykowicz you do not have to have a specific property.  We typically pull them every 6 months and in our area this usually ends up being a list approx 18-25 pages with 30 or so records on each page.  

Hey Jacob-

Sorry to hear about the snag on your deal. We had something very similar happen on one of our deals, however, we were actually selling a property and buyer was getting a VA mortgage. We got notice the week of settlement that buyer couldn't locate his DD214 (lender never notified us and even sent us buyer's conditional mortgage commitment that made no mention about a DD214) Obviously we were beyond upset, however, the time and resources we would have had to utilize to "correct" this(i.e. small claims, fight to hold escrow deposit, etc) would have unfortunately been a waste of time. We went back to market lined up our next buyer and sold the property.

It sounds like you hope to go after the $1k in appraisals, inspections, etc?  Just having a snapshot of your scenario I'd suggest you chalk it up to a lesson and move onto the next property.  30 days was pretty aggressive and didn't leave much room for any snags (i.e. sick appraiser, etc)  I'd suggest moving onto your next deal with new lessons in hand rather than seeking out your options for recourse against this lender.  

Just a thought--I know their points/rates are high but have you considered a hard money lender to get into the property and do what you need to.  You will pay a premium and they are definitely not a long term solution, however, if it helps you to avoid losing another deal like this it may be worth it.  The lender we use is typically able to close within about 10-14 days and they will lend based on the financials of your deal. (Obviously they'll vet you/your experience first.)

Ray

Hi Ray,

Process may vary slightly per county, however, the following has worked for us.  1.) Visit local municipal offices and head over to the clerk's office.  2.) Fill out an OPRA request (Formal request to release public records) with a specific description of what you want.  Our forms ask how you want the information delivered to you--we always check e-mail as it seems to be quickest.  3.)  Usually within a week we'll have the code violations in our e-mail.

Actually, after typing this just did a quick google search for Middlesex County OPRA.  Appears you have it even easier than we do:  http://www.middlesexcountynj.gov/Pages/OPRA.aspx

Hope this helps some.

Ray

Thanks David.  I'm working on the web presence/buyers list site.  How long have you been investing for?    

Thanks Stephen-

I have begun searching for buyers this way and it appears to be working good.  Do you typically call them or mail?

Thanks @Jose Flores  I haven't been to any of the local auctions, however, definitely plan on going now.  Is this how you have found most of your buyers?  Have you ever purchased any properties at auction?  What are the primary differences between the auctions you speak of versus the court house steps type auctions?  

What are some of the best ways to build a solid buyers list?  We are in the process of getting our direct seller marketing in motion and want to make sure we are prepared with well-qualified buyers for quick, efficient turn around of the properties as soon as they are under contract.