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

I am currently looking at three REO properties and need to know, before I call a RE attorney, how to close. Can I close by assigning or do I need to have a double closing.

Hi everyone, newbie here, and this is my first post, so here goes..

I found a motivated seller that just wants to get out of their property.They are upside down on their loan by approx $130K. Not sure yet if they have a 2nd loan on the property as well.

Are there any strategies I could use to make this deal mutually beneficial and worth pursuing?

Thanks for your help!

When you want to flip a house or actually do so, how much profit do you want or get?

I've been around and around with another user here privately in the last few days, and he insists that a deal that I have is not a good deal for flipping, because there may only be $5,000-10,000 profit in it. Other users here (although they may be newbies), would be quite happy with only a $1,500-$3,000 profit. I think we did agree that it would be a good buy and hold/rental property, which is what it has been for the last 5 years, and it brought in a good cash flow.

If I sell a REO property to my cash buyer are they responsible for the outstanding property taxes and liens?

If someone in Pre-forclosure has agreed to sell me their house 'sub2', and the loan is behind, when sending in the money to make the loan current, should I call the trustee to tell them the loan is being made current, not do anything or what? Thanks in advance for your responses.
timberline

This is a short sale property that we made an offer way back in March. After 6 months of waiting the bank countered back 10K more than our offer of 23K. We rejected it & figured we would just move on ... but then we received a call from our REA stating if we increased to 27K the bank would approve the short sale. So we did, the bank then countered back at 40K, we told them to stick it ... a week later the REA calls to ask if we still want it for 27K(this is after
putting 3 others properties under contract to purchase
using cash), we said yes but what happened to the 40K; the bank went to the seller & told her they would sell it to us at 27K if she put up the other 13K, this way they would not foreclose & it would not mess up her
credit as bad; the seller went for it.

I would like to be the B in an A to B - B to C simultaneous close.

Don’t worry about percentages, but i require the ability to net a minimum of $20k on each deal.

If you are interested please PM me for more details.

Therin Hill, MBA

I have assigned a contract to my buyer who is using a Hard Money Loan to buy the property. I am assigning to him. The hard money loan guy whom I know and refered my buyer to, met and he walked through the property approving my buyer for loan. Since I still hold the keys to property pending closing date from title company, I am the contact to open the house etc..
So, today I get a call from an appraiser who sd the hml gave him my number as the contact person to let in the property for appraisal, he mentioned by the way he gets paid the day he does appraisal and if i would be the one paying for it. Since I have already assigned it, of course I know it's the buyer's expense and have it as a contingency on the contract 'inspection of buyers choice' with a 30 day out.

Good morning DG Fam

Wanted to share with you my deal of the month. It's my second largest deal since starting the DG Program. I got this deal by just driving around my neighborhood. I saw a boat that has been sitting in the backyard of a house for a real long time, as I'm driving by the house I see the owner outside so I stop and ask him if he is interested in selling the boat, He said No! just as I'm about to drive away I ask him one last question " Do you want to sell the house" he said yes I lock the house up under contract and flipped it to one of my buyers the very next day and closed on the house with my buyers funds

I purchased the home at 120k and sold it for 138k

Lesson I learned: always ask if you want to sell the house lol

Hello. I represent a nationwide skip tracing firm in Dallas, TX. We are currently working with a local realtor, locating individuals who have abandoned property because they are behind and facing foreclosure. We offer a comprehensive report from the last known address and homeowners name to assist in locating and marketing the different programs available to such individuals (HAFA, etc). We only charge the realtor if we are able to locate and set a call between the realtor and the homeowner. I just wanted to see if any of you might be interested in using this program. We have had really good results. Please feel free to PM me with any questions. This is a great tool for your short sales.