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

I am just curious if anyone here is investing in the Metro Milwaukee market? I am looking to network with anyone that is to see if we can help each other out.

Let me know...

Nick

I have id a number of pre foreclosures but do not get the people to call me back after I have left phone messages and in some properties left note messages do not know what else to do

It was recently explained to me by an Orlando FL area short sales attorney that all short sales now need to be listed on the MLS first before an offer will be accepted by the bank. That really changes how I look at the strategy of attracting non-MLS properties. In Central Florida it seems that it is most common for home owners that aren't listing on the MLS to be upside down in their mortgage. If you have to list with an agent before a bank accepts the offer, how do you effectively put in a low offer when retail buyers as well as other cash investors are likely to pay market value once it hits the MLS?

Thanks

I have been doing some research on double closings the past few days and I am just curious if anyone here can still do "dry" double closings in their area? I am starting to understand the differences between dry and wet closings and would much rather do a dry double closing for obvious reasons. So I am just curious to know if they are still possible and or "legal."

Thanks

Nick

Hi everyone,

I had a question about Matt Larsen's 25-to-1 process, where he prescreens properties and sends out offers on all 25, hoping to get the one...

Question 1: I've looking to submit initial offers out (via email ideally) to several FSBOs and wanted to see if someone could provide me with a template to use (email language/format) to submit these type offers?

For example, do you typically include verbiage about how their property is worth less due to all the foreclosures currently in the local market? Do you include actual addresses and sold amts for relevant comps? Do you include continguency statements, etc in the email or just include those in the actual purchase agreement?

Hi guys. I have a woman that called off one of my bandit signs Im trying to help. I dont know if I can do anything at this point for her but i figured I'd ask you guys anyway.
She has a house here in CT, Amston to be exact. she owes 310,500 about and is 15,000 behind on her payments. She said she tried to restucture the loan with the bank (wells fargo) but they just started the foreclosure process instead, I thought that a lease option could be an option if I could get someone to give me say 20k down and make the 2500 a month payments but That wont be easy at all because the house is priced so high. Besides if the bank wont work with her anymore I cant have her hold the mortgage anyway.

Hello all, I recently had someone contact me about doing a lease option on a home (he's the buyer). I don't have a home yet but I was wondering how I qualify him. Is it similar to qualifying a cash buyer, that is getting all the pertinant information of what he's looking for and how much? Are there also specific questions I need to ask him? Any and all suggestions are welcome, thanks again.

We are actively buying wholesale homes with an ARV over $350,000.00. We are not looking for double dippers, but will split the net to TNJ Enterprises, LLC 50:50. If you have a deal that you think qualifies send it to me.

I want to find a way to buy the house I'm living in. It is in pre-foreclosure. It will go to court in 3 weeks. And is scheduled to be sold in 6 weeks. Is there a way to get a postponement on the court date? and does anyone know how to get a loan if your credit is not good enough?

A bidding process is employed by HUD to sell properties. Potential buyers are given a specific time period wherein the bids are accepted. You generally must submit bids through your HUD agent. After the deadline for individual buyers for buying their primary residence, the home will be sold to the highest reasonable bid. If there were no bids or no bids close to the value of the HUD home, bidding is opened up to any buyers, including real estate investors and those buying a second home or investment home. Like any other auction, the property then goes to the highest bid.

When a buyer's bid is accepted, his real estate agent will be notified and he will then be assigned a settlement date.

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