All Forum Posts by: Donna S.

There are several estimating software programs available that are used by insurance adjusters (like me) but also have contractor's versions widely used by restoration companies like Servpro & Service Master. My favorite is Xactimate. It can be a little tricky to get the hang of but you can download a pricing database that includes almost everything you could think of putting into a building for almost any zipcode. If your not sure of what your doing, the software shows pictures and full descriptions of the materials and repair operations. It requires a subscription fee that may not be cost effective, but then again, how costly would it be to underestimate your repair cost by 5-10,000 while you are trying to learn the ropes. Just a thought.

Is there a way to get an absentee owners list without buying online? I have bought list before and found them to be outdated, I would prefer to do my own research, knowing it would be reliable. Any ideas? Thanks

Your right, it is awesome!
What does your Mary letter look like? All the ones I've seen just say "We would like to buy your house" I would love to see an example of a professionally created one. Thanks.

PS: Are your forum pages coming up kinda funky? I have to scroll way down to see some of mine.

Mike, I want to send out a 1st mailing to my pre-foreclosure list. What do you suggest? Do you have an example that would specifically target this group?

If you have data on sold properties in the area, figure a Square Foot price and use that to calculate the value. I find that it's better to compare location & condition and use SF to get price. JMO

I know that in the case of foreclosure, if the homeowner tears up the place, banks will file a police report for vandalism naming the property owners as possible suspects, and in turn will file a claim against the homeowners insurance for damages that do not result from normal wear and tear. They will also in some instances, depending on the $ of the damages, file a suit in both civil & criminal court for the damages. I have been to claims where they removed everything including the copper water pipes, hvac & kitchen sink.
I have questioned in the past whether they should be required to leave the kitchen appliances if they were purchased seperately from the house. For insurance purposes the range & built in DW are considered part of the structure. The Frig is considered personal property. Just my 2 cents.

Another REI I know has offered to shoot my wholesale deals out to all of his buyers and has ask me to let him know if I get any short sale prospects, as that is his main focus at this time. I really didn't want to seem like a total dummy so I didn't ask a bunch of questions. I know that his strategy is to buy using HM and then resale for FMV. He said he makes his money from the spread. I guess all I need to do is tell him when I get a seller that agrees to short sale. Thanks for the info.

What criteria do you use to determine if a property is a good candidate for short sale? I have picked up from BP that this is used for properties that have a larger loan balance than FMV but are there other criteria?

I got a list of all the Pre-foreclosures for my county today. It includes property owners name, address, original note amount and foreclosure sale date. Sales dates range from tomorrow up to 04/20. Now, what do I do with it?

Thanks Jon,
Since my friend is unable to profit from the short sale of her property, I would probably use it to pay a deposit on a rental for her and her daughter as a gift.