All Forum Posts by: Account Closed

Sorry, It is just a regular lease purchase agreement, 5 years, 5k NON-refundable down payment with payments of 1000 a month... It also states if they don't pay for 3 months then the contract will be null and void, So far it is April 1st, so by May 1st the contract is void. Tenants do want to leave when I spoke yesterday

Yes I am involved, I dropped a note off yesterday saying that to call me to the tenants they called me and explained how the owner didn't do this and that, and then the owner has documents on everything etc. So pretty much the middle man. I figure the best way is to try to work with the tenants but they want too much money and the owner isn't will to give them that much, so maybe take this to an eviction attorney would be my next option. Owner has all documents and appears more responsible than the tenants

Thanks!

Ok I am a full time wholesaler, Seller wants OUT! tenants are not paying since Feb 1st. Owner wants me to take care of the problem :) .. Anyways how do I handle this? tenants want 15k to move out, owner said that he won't give them no more than 5k to reimburse them for the doors, and AC unit they put in. Owner also said he will give them an option to not go legal and evict them or if he has to go legal and evict them then they won't end up with nothing. Owner also recognizes this isn't his business and wants me to handle it which is fine, so the best option for me would be if the tenants don't cooperate, than to call up an eviction attorney start the process etc..

Thanks for any help!
John

Yeah that is what I figured, I am trying to track down this company, the number they give online isn't showing up and they may have gone out of business.. What would be the next step to find out who is currently holding the mortgage? Try to research who took over the company right?

Thanks!!! :)

PS: http://reversemortgagedaily.com/2009/07/27/wsfs-closing-reverse-mortgage-subsidiary-after-earnings-announcement/

Found this article in 2009 looks like they went out of business.

Hey guys,

First time coming across this but I have a property where it is in probate, and I am trying to get in touch with the lender and the number isn't going through. The company is first reverse financial services out of Illinois. The bill the sellers gave me is from 2008 so I am trying to figure out what my next option should be to figure out how much the mortgage is they owe also they said they haven't received anything in the mail and they do receive other mail regarding the "estate of"

Thanks
-John

FIND THE DEAL FIRST!! Always ... then call another wholesaler and split the deal when they bring you a buyer. Especially when you are new it is hard to do both at once and you will get frustrated.. Biggest thing is FOCUS. Don't try to do mailouts, bandit signs, driving for dollars, online ads, etc.. Focus on one marketing method do it constantly (all numbers game) and get a deal than call up all the wholesalers if it's a deal they will move it you split 50/50 and realize this business is real!! win/win in my mind :)

Well.. After a TON of mistakes, offers I regretted, etc etc. 1 year. Always keep this thought in the back of your mind.. IF IT WAS EASY EVERYONE WOULD DO IT!!

Consistent and a TON of marketing! Don't try to "create" deals by get ting desperate and throw a contract on something that the numbers don't make sense. I started slacking and did this for a month, then realized I need to up my marketing again that solved that!! lol

Joe Mcall is very knowledgable on lease options, he runs his business off of craigslist leads. One of the biggest things in being successful in real estate is to pick ONE strategy and KILL IT. I tried to do lease options, regular wholesaling, owner financing etc and at the end of the day it was too much to learn and got no where. If you want to do lease options some of the best ways to get leads are yellow letters to expired listings, calling the for rent, FSBO craiglist ads from what I hear.. Best of luck!

Ok awesome Carolina, so when you go driving for dollars you will keep the address even if it is an LLC and mail them a letter. I found an awesome app guys by the way called Homesnap you take a picture of the property and it pulls up the info. Looking for the quickest way possible to go driving for dollars I am thinking maybe a tape recorder and just say the address as your driving instead of having to write it down and stop .. etc.. any ideas ?

Thanks
-John