All Forum Posts by: Sean Salandy

I have also listened to the podcast about this company. I cannot find much information on them. Their program sounds pretty good but I too would like to know if anyone has had any experience with the company.

@Scott Lewis @Alan Chambers Would you approach the bank prior to getting the house under contract with your proposal or would you get the house under contract first? I would assume you would want some sort of pre-approval prior to going into contract but I'm not sure if that's possible with a commercial loan.

Thanks

Mike Cumbie that sounds like a good idea. I just wasn't sure if it would become expensive to bring a contractor to multiple houses as I begin to make offers. But I can see how it will save money in the long run.

I'm a little confused on what the next step should be. Should I try to bring a contractor with me on the first visit? I've read posts in the past from contractors that would rather not be taken to every home an investor tends to look at. Should I look at it myself? Gather the numbers. Make the best offer. Get the property under contract and then during the inspection period bring an inspector to the property (to find any huge problems) and then a general contractor to get the repair estimate? Thanks.

Frank B. Matt Motil Rob Rice Thank you for the responses. That is great information. I misunderstood what the no sales contingencies meant. This is excellent. I will definitely take a look at it and if I decide to offer, then I will include an inspection contingency. This will be my first flip so I would like to proceed with caution. Again, thanks a million!

I'm looking at a REO property that includes the following in the listing: "no offers with home sale contingencies". How would you proceed with this situation? Would you schedule a showing and if the home is in good enough shape (no obvious major issues) make an offer based on all of my rehab calculations and order a home inspection after the offer is accepted? I would rather have an inspection contingency so I could have a few days to get an inspection done but it seems as though the bank does not want this. I would be paying all cash for the deal. Thanks

Thanks Ryan D. and Steve Babiak . This is great advice. I hope to take a look at it this weekend.

I am looking at a home that states "Seller will not allow water to be turned on" in the listing. What is this usually a sign of? Does this mean there is a known issue with the plumbing that they are trying to avoid the potential buyer from finding out? Is there anything that can be done during my inspection to allow me to know if there is an issue? Thanks

How would one go about purchasing a home that is in pre foreclosure? We've all seen the homes that seem to be vacant with the white papers stuck to the windows or doors. Sometimes I see homes that have these notices stuck to them for years and still haven't gone to auction. I know it's a given that due diligence needs to be done to see what type of foreclose it is involved in (tax, mortgage, etc) among other things. Is it possible at this point to contact the seller to make a deal with them? Would this be considered a short sale or would this be pre-short sale? I always assumed that it would be considered a short sale once the bank/listing agent lists it as such. My understanding is short sales can take a very long time so I would rather catch the homeowner prior to reaching that point. Thanks

Matt Y. Got it. Thanks.