All Forum Posts by: NA Beauvais

Also in my opinion you have a better chance of making low ball offers on bank owned properties when the property has been sitting on the market for a while. Newer listings usually dont get a response to low ball offers.

@Christian Marin  hearing that you are wholesaling 20-30 deals a month in this current florida market is awesome. Are you buying bulk packages directly from the bank? I have a couple of guys that are doing about 15-20 deals a month in our local market mostly due to relationships with asset managers over the past couple of years.

@Wayne Brooks  I have had a hard time locating the Florida fee limit being at 12%. I read the statute on Florida tax law but was unsuccessful in locating that information. Could you point me in the right direction so I can see actual documentation on fee limits for Florida please?

@Wendell De Guzman when wholesaling your deals in the Florida market what are you finding to be good price points to resell your deals to landlord investors and flip buyers for retail on 3bd room properties? 

@Stephen Brownso what would you consider the CON's to be in wholetailing properties?

Thanks for the responses. I primarily get my deals from private sellers with some equity but the majority of leads that we are getting are properties with little to no equity. We focus on quick turn real estate deals so those little to no equity deals are more of a short sale strategy which doesn't work for us because #1 not really a fan of short sales and #2 I wouldn't consider short sales as a quick turn strategy IMO. I am aware their are more ways to convert little to no equity deals but haven't been able execute these strategies in this current FL. market to fit our business model. 

@Joe Villeneuve I'm not sure I understand your second comment. You said "if the property cash flows you don't need to get deals" but in order to be in such a position the need to get deals is always there. 

What would you say determines your real estate strategy? Is it your market or your market conditions? For example here in Florida prices may have gone up but foreclosures are still in abundance. When prices are going down foreclosures are even more in abundance. So strategies aiming at little to no equity or in some stage of foreclosure type deals will work year round here. Now in other markets because of current market conditions foreclosures have all but dried up so an investor working in those areas that were going after REO's and such don't expect to much deal flow coming from those strategies so now they are focusing on other niches. Would like to hear your opinion.

Owner contacted us through some marketing we done and said  they were looking for someone to take over ppayments. Through conversation with the seller we found out that the property was being rented out but not enough to cover all of the debt. (Mortgage, ins, taxes and association fees. so every month he has to com up with the balance to cover the rest. Aswell as I mentioned earlier property is less than what is owed. He wants to sale because of these reasons @Joe Villeneuve .

@Joe Villeneuve  Owner owes 130k property worth 85k.