When we were getting our start we talked to several VPs of commercial lending, and having actual numbers when presenting our business plan to them was helpful in showing them that we had done our due diligence and were capable of conducting proper analysis.

Hey BP,I'm encountering a lot of leads who have high equity in their homes but the current value is a lot lower than what they purchased it for, so they are reluctant to sell at a price that works for me (60-75% minus repairs of market value).My question is, is there a strategy out there to try to convert these leads to a deal or is this just the way of the land and a deal will come when proper motivation is present?

The time has come to expand my horizons and take my financial achievement into my own hands.

If you purchased owner's title insurance but did not get a copy of the title policy in the mail, the company you purchased it from will be stated on the HUD-1, and file a claim with them asap as I think the lender commitment documents stated they (and I) had a year to file if the closing wasn't done properly.

(at one time NYC was a dangerous place to be and not highly sought after in the early 90's)You need to expand you horizons to less expensive areas if you hope to get cash flow from rental properties, or be a very patient person with lots of disposable income to park

Once you decide on what you believe the value to be, you can submit this (best done with proper evidence such as appraisal by registered appraiser -preferably MAI or SRA) to the title company as a insurance claim.

Originally posted by Brian Burke:You can ask, but I suspect that you'll come up with little cooperation in that regard.I agree and going back to the point that you failed to properly perform your due diligence and run title, they will say it is your own fault.

You want to learn the ropes of wholesaling I want to expand my business to your area.

As a SFH investor, I think you're going to find it extremely difficult to get to 25k a month.At some point, you simply can't manage all the properties yourself and now you've got overhead and then things have to expand even more to get to that number.

They don't have the contracts to use, they don't understand the process, they don't know how much to accept as an option consideration, and They Definitely don't know how to properly qualify a tenant that will have the ability to purchase in the near future.