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I am filling out a prequal form for preconstruction loan and they are asking to verify that i have 25,000 in assets, credit above 680 and at least 6 months of mortgage payments available. I have great credit and barely the money in the bank to cover 6 months but my problem is the assets. I'm just starting out and i was wondering if their is a way to show that i have 25,000 in assets or anything else i can do to make the lender happy.

Thank you,

Shawn

Phil,

Shoot me an e-mail, I would like more info on the florida preconstruction, also does anyone know where I can find developments being built in virginia as well. [email protected]

Thank,

Shawn watson

JuzamJedi,

Thank's for the info! Can you give me an example of what terms might make sense in this situation. I have never done owner financing. I have a purchase agreement or would i need a specific contract or is this something my lawyer should create.

Shawn

Hey Guy's

I came across a motivated seller looking to dump one of his properties. He has it on the market for $140,000 and said its been listed for several months and he's looking to sell quickly. He owns it clear and outright no leins or notes. I looked at the comp and their going for 145-155. I dont know if he is willing to budge on the price i think he expects to go down to 138,000 or so. Should i let this one go or try to negotiate with him? If I would happen to buy, How would i finance it with him if he owns it clear?

Thanks

Shawn

Thank's guys,

I'm not a realtor, but it's good to know im not the only one getting crazy calls like this

I just got my first call today after mailing about 200 letters and she called me a little SH&! and said she was reporting me to the local real estate ethics boards and the better business borough for predatory practices. Can she do this or should i get use to these types of calls. It kind of put a chill down my spine. It went into my voicemail so I was lucky not to talk to this classy lady.

Thank's

Shawn

hey guys,

i stopped by city hall this morning for the first time. Went into the prothonary office and was looking in the locality index. Their was a list of judgments and they were listed by gas,lis pendens, real estate tax. should i be looking at all of these and mailing to them or just the lis pendens. The book was thick and i wasnt sure if these were pending law suits on the property or just judgments against the individual and if they are forclosing on the property.

Thank's

Shawn

thank's Alot Prohabber,

I'm glad I found this site,I have been reading for days straight and I have noticed your posts have been very Informative.

Shawn

Hey guy's

I'm new to the site and I had a quick question about mass mailing. I've been sorting through the lis pendens and been sending out letters to selected area's all within 30 miles from my house. I just downloaded act 2005 to help me hold my contacts. Is their an easier or more automated way to produce many letters an denvelopes and mail them? Is their a servie that I can use ro software I should be looking at. Any help is appreciated.

Thank's

Shawn