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29 November 2016 | 11 replies
I have heard that making mistakes and having fear are pretty normal.
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26 August 2016 | 1 reply
One was a normal sale, and we put on offer on it that was accepted.
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27 August 2016 | 3 replies
But normally values are higher in high O/o neighborhoods.
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30 August 2016 | 9 replies
As you are analyzing these deals normally the banks would use a 5% vacancy rate and a 10% management fee.
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31 August 2016 | 9 replies
ERGO you are in foreclosure in the first place.GFC meltdown saw values drop 20 to over 60% in certain markets .. your 70% LTV loan was underwater right out of the gate.So to answer your questions.In General... you have a foreclsoureyour value is 10% less than it was when you made the loan.. reason flipper butchered the job ... and again depending on state it could take 1 to 3 years to actually foreclose and of course your not getting any payments.. so your interest is wiped out. your cost of doing the foreclosure again state specific.. and I have never met a defaulted borrower that paid the property tax's ( and again state specific how bad this will be).. you have selling costs usually 8% and you normally have to spend money getting the home marketable I have never met a defaulted borrower who left a home in perfect shape.So you add 10% market devaluation 8% for sales costs.. 3% for foreclosure costs.. 2% for back taxforce placed insurance and utls.. and depending on the condition of the home 5 to 10% for rehab .. you can see how this eats into your 30% .. then take states Like were i live and properly filed mechanics liens are super liens they jump ahead of your mortgage.. this can be thousands up to 100 thousands if your flipper totally screwed the subs.
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27 August 2016 | 1 reply
We have kept a few and add them to our portfolio of foreclosures and estates that we acquired through normal purchase at 50 cents on dollar - I'm a bargain hunter!
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5 September 2016 | 2 replies
I have heard that mistakes and fear are pretty normal.
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29 August 2016 | 16 replies
I tried with Thomas and Kyesha but it didn't do it with the normal handle format @_____ ______ etc
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1 September 2016 | 43 replies
If they commit to signing the Lease Agreement within a specified period (usually 30 days max), I convert this "Holding Deposit" to the Security Deposit (fully refundable, minus items above normal wear/tear).