Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

Any DG member in Cincinnati interested in doing Bank foreclosed REO with me that I locate in Cincinnati.
Email:ajdaka@**** cell (323)401-4263

In California,

Is there a creative re-write with proper documentation versus a foreclosure on a property that a note holder can do while staying in compliance with the law on a private money mortgage note for an owner occupied single family residence, the note has matured from a 3 yr interest only and owner has not paid his loan in past 12 + months?

Can the note holder suggest such creative way to save owner and lender?

If you can collaborate, we sure need the right advise.

The best way I have found to find cash flow properties is to go to your local craigslist and specifically go to the "all housing" section and type in "cash flow" in the key word search. I have been successful finding dozens of deals consistently with 30% NET CAP rates in several cities on the east coast and the mid-west, but I am not giving away all my secrets:)

Hope this helps,

D

The best way I have found to find cash flow properties is to go to your local craigslist and specifically go to the "all housing" section and type in "cash flow" in the key word search. I have been successful finding dozens of deals consistently with 30% NET CAP rates in several cities on the east coast and the mid-west, but I am not giving away all my secrets:)

Hope this helps,

D

LLC's are great if you want to assign reo properties which most bird dogs think you can't do. I've been researching on assigning bank reo's. Double closings, dry closings and"flash funding" are a few strategies as well. FSBO's are being gobbled up in my state and knowing the fact that most assignors consider reo's "unassignable" I have less competition. Another beauty is that ALL banks ARE motivated sellers. You don't have to worry about figuring out if they are motivated because you know. You can assign bank reo's by signing the purchase contract in the llc's name and then selling the llc to the end buyer.

Here is an article that talks about the decline in the foreclosure rate. Overall foreclosures continue to fall, but there are a few states here we saw increases.

http://money.cnn.com/2013/02/14/real_estate/foreclosures/index.html

When you want to move into a condo or housing development, you typically have to sign off on an HOA agreement specifying the rules of the development.

With so many other things to worry about when it comes to buying a home, the homeowners association agreement is often an afterthought.

It's usually not until you're comfortably settled in to your new home when you come to realize that your HOA agreement is actually quite restrictive, and may set some "house rules" that you wish you hadn't agreed to.

Here are seven things to look out for in your HOA agreement:

Movin on up. And movin on in. There is one more trend brought on by bad times and many, many foreclosures. It is called "mansion squatting" and it is the new, upscale version of the squat, until now done in derelict buildings or depressed neighborhoods. As evidenced by the arrest of Randy and Evi Quaid this week for their illegal live-in situation in a house they used to own, mansion squatters are a growing problem.

Foreclosure is the legal means that your lender can use to repossess (take over) your home. Below are a few alternatives to the foreclosure process. Talk to your lender to see if you qualify for any of these plans for avoiding foreclosure.

Special Forbearance. Your lender may be able to arrange a repayment plan based on your financial situation and may even provide for a temporary reduction or suspension of your payments. You may qualify for this if you have recently experienced a reduction in income or an increase in living expenses. You must furnish information to your lender to show that you would be able to meet the requirements of the new payment plan.

Foreclosures, mansion squatters, it seems we are all a-buzz these days with news about abandoned and foreclosed property. The question often asked is, if the house nearby has been foreclosed on, and the bank who owns it seems to have abandoned it, can't I use it? One person even suggested just fixing up an "abandoned" house and renting it out. Although it seems like a good use of an abandoned property, and would probably even help neighborhood home values to fix up a property in disrepair, it is not that simple.