All Forum Posts by: Steve Londeau

My #1 rule is if you haven't been here, your comments are not informed. 

I'll have to catch up on the discussion I saw this flagged or something and wanted to comment so I'd see it later. 

There are some really awesome areas in Detroit, some really scary areas, and then a lot of in between. The one thing there is a ton of is opportunity.. just don't be stupid. (but that goes in any city in this business right?)

Hi friends. Its been a while. :) 

I use a customized zoho. It's perfect for my business. 

This post is almost a year old.

I've had a lot of success with the option contract. My option explicitly and expressly gives me the right to list, market for sale and contract for sale, so I don't have any issues. Its already been approved by Real Estate One's legal eagles and Keller Williams is giving it the stamp of approval as well. Now, these are individual offices, but in the case of REO, they sent it to corporate and it was approved for use.

We can handle short sale negotiations, message me for more into and I'd be glad to tell you more or suggest other companies as well.

Steve

I used to send a TON of info as well. But sending a 100+ page fax got to be a pain in the ***! I send in what's required, its usually about 30-50 pages, and then post-BPO I will unload on them with more info if needed. Lately, in Michigan, I don't need a lot of ammo. I just say "Michigan" and that's all it usually takes! :P

There is no seasoning issues if selling to a conventional buyer though. That only comes into play for FHA.

Eric,

Minna is right, and I think you know that's the case. You just need to wait it out. I would watch for the auction and try to buy it then. Then you file your affidavit of abandonment and you can have the property in about 45 days from auction.

Also, Steve is correct. See if you can find out the attorney. If you have a public notice posting, it has all the info you need. You COULD submit an offer right to the attorney's office if you really want to play hardball. Trott & Trott (my former employer and the largest foreclosure firm in the state) has a Loss Mit department now, and also might even give you information on when the auction is being held.

I live in a rural county, mind telling me what county its in? Also, remember me? We talked a bit a couple of years ago. We should chat again. I have a lot of interesting things going on that you might be interested to hear about!

This thing went from potentially good, to iffy, to laughable in a matter of hours. The only way it will work is a short sale, and I'm open to that, but then i'd have to use about every private lender resource I have for this one deal. I don't think I want to do that. I'll continue to look for owner financed apartment buildings that won't require too MUCH up front capital. I want to own an apartment building, but not bad enough to do something retarded!!