All Forum Posts by: Sal Souza

Just wanted to give a shout out for @Robin Hunter in Kansas City/Independence MO.  She has been my property manager for about a year now.  Good rates for management, honest, fair, reasonable prices for repairs, excellent communication.  Highly recommend.

@Sal Castaneda Sorry for taking so long to respond...Thanks for your input, I'm very encouraged by what you say.  I just sent some direct mail to several pre foreclosure properties today.  We'll see what happens!

Thanks everyone for your comments!

You have confirmed what I was afraid of, I'm bringing no upside to the seller by saying that selling to me will save their credit.

@Letitia Harris Good to hear from you Tish, hope everything is going well.   As for my first question, I haven't talked to the homeowner yet.  I've hand written a letter and received no response.  (It's been about a week).  Just trying to anticipate all of the possible objections from them so that I know how to answer.  Regarding my second question, you're right, I think doing a title search is my next step in order to insure that their is indeed a good amount of equity.

Sal

@Shane Avila Hi Shane, thank you very much, I will give them a call.

Sal

Hi All,

I've been learning about pre foreclosure leads as possible deal sources.  People who teach this subject are always referring to how you're helping people by purchasing their home and saving them from foreclosure thus saving their credit.  There is a property in foreclosure in my town that I'm interested in, but I'm confused about a couple things:

1) How do you answer the objection from the seller who says their credit is already ruined because of missing so many mortgage payments? 

2) If the seller has a lot of equity, I would structure my offer so that the seller receives some of that as cash for moving/relocating expenses, etc. But doesn't the lender have to do that as well once the property becomes an REO and is sold?

Thanks!

Sal

Hi All,

Can anyone recommend a good real estate attorney in the Merced or Stanislaus County areas of California.  Thanks in advance!

Sal

Good job!  Looks awesome.  We have good friends in Spokane and we are interested in that market.  Please share more!

Hello @Mark Sarte, sounds like you want to use the BRRRR strategy to build a portfolio of rental properties. EXCELLENT idea! I would love to do the same thing but difficult when living out of state. I have two SFRs so far in KCMO (64138) and one in Independence (64056). All three are turnkey and all rent at 1% which gives plenty of cash flow. I would call them B- to C+ neighborhoods with approximate 100K price point. Bought two through a realtor and one from @Nathan Brooks at Bridge, who I highly recommend if you ever decide to go that route. You definitely have the right idea, best wishes to you!

Sal

Hi James, We're out of state but used a lender that has offices in Kansas City and St. Louis. They allowed us to use our HELOC for down payments on several homes in KC. PM me for details if interested.

We're planning to attend and looking forward to it!