All Forum Posts by: Jason D

In your experience what percent of the BPO does Wells Fargo usally take...

As Bill pointed out several times there are many variables involved. Every Investment is unique and should be evaluated based on its own merit….

By working faithfully eight hours a day, you may eventually get to be a boss and work twelve hours a day.

It s seems that most of the foreclosures in my area go back to fannie, are lenders less likely to do short sales if the inventory goes to fannie? Also how can I determine if the by looking at the mortgage if the foreclosed home will go back to the bank or fannie? Sorry for double question here, didn’t think either deserved its own thread
Jason

I was thinking about subject2 Jon. I will dig up some of the old posts like you recomended, see what the masses think. Thanks for the input.

Jason

I can tell you that in Missouri it is not more complex. Flipping for cash is always best when you are asigning plan on your buyer defaulting 20-30% of the time (in my area), there you make your money with your downpayment, quick eviction and get another downpayment quick. Hope this helps.

jd

Yea, I have to agree with Bill, I don't see how this works with the rent being 150.00 more than your payment you take a loss here, right? Unless you are planning on passing off some of the lot rent to your buyer? If, not run this is not even a break even proposition.

Bill-James thanks for you input!

Based on what I'm hearing from you guys it would be a big risk to try to assume the loan....perhaps the best option is just to try to buy it from them. That being the case I guess a simple sales agreement would do. Bill, anything about that I should be aware of?

Thanks again,

Jason

I would like to approach and owner in pre-foreclosure and try to assume the loan. Where would I get the appropriate documentation? How long before the sale is this possible?
Thanks
Jason