All Forum Posts by: Greg Felt

Philip, 

Most investors use a local real estate attorney to process the foreclosure. Every state has its own procedure and timeline. Florida has one of the longer timeframes in the nation, although I think it's getting better, due to the local economy. I know this isn't much help. But, I am not familiar with Florida non performing notes. But, I am sure there are plenty of BP members that can help you more than I have.

@ Dewitt Gibson, 

How much is the minimum purchase price of the house for lending purposes? 

I can't find anything under $50,000.

I'm not working with a realtor...just a handy man that knows real estate...just buying C or C+ properties. 

and flip....or sell before fixing.

Flips are going well...just bought some C and C+ properties. Looking to fix & put tenants in.

Todd, I am. Do you have questions?

yes, I have a property manager and that's in the calculation.

no calculation for appreciation. But, in cash flow properties & C properties, I'm not thinking about appreciation.  

@Alexander Muir it is possible to get those kind of returns in C areas of Detroit. I have some C single families that get as high as 25% ROI..just get a good property manager to protect you from the warzones, as you probably know.

Paul C. Mallon, Jr.| Attorney |Fraser Trebilcock Davis Dunlop

Paul has worked on foreclosures for me...no lease agreements. But, I'm sure he does them.