All Forum Posts by: Vanessa Brostovski

Yes i want them to know for sure and have proof i just dont know where to get a document like that? Could you by chance foreward me one to my email or mail me one if i give you my address?

I want it in writing so if something goes wrong and he knew, he doesnt try and turn the story.

Now as for your friend, if the buyer backs out, is there a way to have the right contingencies to where i can walk from the deal without getting the money? I know it would be a great deal if i was doing it, but if someone wouldn't go through and had no buyer, i dont want to be screwed you know?

I have someone with some money to lend but say this was a deal that was over my limit to repair it, i would simply send it off to the other investor for him to make alot and me to take a small chunk via the way we are talking about. But if they do not sign the doc and i dont have the cash, i just dont want to be stuck.

and as for your document, if you have someone sign it, and THEY back out, do you have it set up to where they are responsible? or what?

Stephani or Jon,

i just got off the phone with a title company here and i believe i can do that here as well. She explained it as Jon asked. Basically the end buyer (other investor) is your private money lender for "x" dollars and you close and then its reconveyed or something like that to him if say you want $10,000 out of the deal, he pays you off and takes the property. Maybe someone can clear this up a little while i wait for the escrow agent to answer the email.

OR if they are out of area title company and do email the DOCs to me to use at my wn title company, i understand this now and can have my own agent do all the closing FOR their company... Im going to ask her. Can someone help me with the reconvey thing?

Does anyone know where I can read about the Federal and state laws for FLIPPING properties? For example, do you have to hold a certain amount of time before you can even put your place up for sale? Any resources/websites would be great. Thank you!

I know this is a little older of a posting but i know an investor that had about 30 homes go belly up in florida and was so stressed trying to figure out what to do. him and an attorney worked on them and figure out they can short pay! So recently he has been able to shortpay so it cashflows good and he sells it off to make most the money back. Every state is different so i dont know.

Thanks for your answers guys. I am going to check out the REO flipping information you have, and also research some money lenders in the area, and also I am going to work hard on building a power team! I am excited to learn all the creative strategies I can, it was just difficult to figure out because of our market in this Sacramento area. Thanks for your help, I will be reading and learning as much as I can. Chris, that was also good advice as I am looking into assigning as well!

Hi, I am a new investor in the Sacramento area. I'm young, in college, and have no cash to put up for investments. I have decent credit but can't get a home loan, and this area has TONS of REO's and very little homes FSBO or Owner finance, and also barely any people who are selling that are not competing with REO prices. Any suggestions on what I can do to be successful and get the ball rolling? I can't assign REOs and there aren't many assignable properties here in this area. Without going out of state, what are some suggestions or resources I can look into? I am determined to get started as soon as I can but I want to be knowledgeable and resourceful! Thank you all!