All Forum Posts by: Donte Mazyck

can you rewrite it, it is hard to read as it is now.

marketing to foreclosures is becoming a waste of time since lenders are now more motivated to give those owners solutions to keep their homes. now you are not only competing with other investors and professionals, you are also competing with lender incentives. that makes it really tough to work a deal with the owners. just know lenders can reach the owners before anyone.

its best to get a list in other niches and hit them up.

i agree. :badwords:

are you a real estate agent?

i wouldn't pursue the deals that are upside over 100k unless the house is worth a million dollars. lenders won't discount enough to make it worth your time. you will only get deals at market value if you try.

I don't see why owners would believe they don't have to make a mortgage payment. a guess a sucker is on every corner.

basically the buyer is paying all the closing cost, because if the bank doesn't get their net, there will be no deal.

legally if a person quit claims a deed to a property they don't own they will be taking a long vacation, plus to avoid that hassle thats why its good to have title insurance. most things aren't a problem unless you make it one. i recently sold a land trust property that had a quit claim deed and signed a warranty deed to the end buyer, plus i didn't have title insurance when i had the deed quit claimed, still wasn't a problem. if a quit claim was so insignificant they would be outlawed.

I am familiar with land trust, and i can tell you one thing, a warranty deed to trustee conveys all rights of the property to the trustee, the land trust agreement itself gives the trustee their directions or limits if you would.

To clear things up a Deed of trust is that sort of the same as a mortgage but used in a trustee state to give the trustee for the lender a power of sale.

there is no land trust deed. On a deed to the trustee whether its a quit claim or a warranty deed and the land trust agreement. I prefer a quit claim deed. in my area there are no transfer stamps to pay.

I would suggest that you have a plan mapped out how you are going to get to each property. If you dont plan it can take you all day to visit 10 properties. If you have it mapped out properly you can visit 10 in an hour.

As far as what to say to the owner, just say i would like to buy your house. Then you will lean after a few nos, you will develop your own approach and style. Come off as a pro for instant credibility. The owner has to know and trust that you can get the job done. Practice a script before you go out so you wont get lost for words.