All Forum Posts by: Sofia G.

Thank you both, Crystal Smith & Joseph Ball.  I just wanted to make sure we're not overlooking any other solution we can do.  (besides the obvious which was to walk away :)
Appreciate the feedback!  Have a good one!

Hello BP. We're newbie investors from Chicago, reaching out to folks versed on handling preforeclosure deals.

Got this one from mailers we did on preforeclosures with equity. The sellers' reason on selling is because they are in the process of divorce. SFR is in a great neighborhood, facing foreclosure with 20% equity, doesn't need major repairs, in a move in ready condition but not in top shape. We've done our due diligence, found no liens with as is value at $596k.

With $596k x .70 - $10k repair - $10k closing costs = $397200 is our best offer which was not agreeable for them, they want a minimum of $490k.  We're thinking the only way they can get the most of this house is to either rent it or have someone take over their payments but given it's a divorce situation, they'd rather not. 

We're newbies so we're a bit nervous about handling this, we don't want to waste their time, but at the same time we want to be able to help them out.  

Any other ways you handled such a situation? 

Any input would be greatly appreciated.

Hello!

Any meetups sometime soon?

Hi Jamila! Congratulations on your brokers license!   I would like to recommend you to the agency I'm with.  Did you have a preferred area in mind?

Congratulations Ana!! Great job!  I'm just gettin my feet wet and reading success stories like these are priceless. 

Many more to come!!

Sofia

Thank you all for the warm welcome and your offer to help!  Hope to cross paths with you all!!

Elizabeth - thank you so much for all the tips. I literally just sat down and about to think about how my boyfriend and I can effectively... 1)both work as leasing agents, 2) for him to continue part time field tech work, 3)continue launching/building our real investing business, and 4)we'll both be taking the broker licensing course next month.  So yes, we'll definitely need all the guidance, we'll check out all the resources here at BP along with everyone's websites.  (I'll start with yours, you sound very inspiring :)    

Thanks again! Have a good one! Talk to you soon!

Hello BP community. Sofia Gonzales here from Chicago Ohare area, my main focus is NW side Chicago SFRs. Just recently shifted from my 17yr corp sales journey to the REI world. Non of that journey was related to real estate but have always had the passion.

I'm currently building my team, thankfully with the help of a few BP members. Again, much appreciated. I'm very excited and very cautious to make sure I'm doing everything right from the start. I've gone through my Real Investing course, I've utilized all the helpful posts on the forums and resources here on BP. -- Thank you all for sharing. I've been on all the other REI forums out there and have gained vast knowledge from them as well but I must say..... joining BP just felt like home. :)

I'm just barely gettin my feet wet, I've only made a couple of offers so far, sfr wholesale deals but I'm looking forward to contributing as well, so please reach out to me if there's anything I can do to help.

Prosperous investing to everyone!

Sofia