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

Quick question and hopefully someone will have this for me. Just wondering...

If have investors that want exact address of properties assigning or trying to assign should say, how do you protect yourself so they don't swipe it after deal done.

Especially if received a lot of calls from new buyers recently. Is there a good way to protect the privacy of exact address and self. Do you just have them sign assignment agreement and agreement will pay if pick property up later or what should you do? Thanks

I will meet with a lady tonight that is selling her father's house/estate sale, Her and her sister are co-owners and it is not in probate. I went and looked at the house last week, I commented on here it needs $5,000 in repair and totally rentable as is. Problem is she got busy and I called her a few times trying to reach her to make a deal. I finally got a hold of her today and she rented it in less than a week for $1200 a month on a one year lease with $1200 security deposit. Question is where do I go from here?

Hello Fellow Investors-

I have 2 investment properties that need to be assigned asap in northwest illinois.

I did some heavy negotiating on these deals to make sure the investor gets some good cash flow and profits right away out of this.

Negotiated seller to pay closing costs and they have an agent, so they are also paying that. Also negotiated to receive rent from each unit for that month of closing and any security deposits attached. Plus, got great prices on these 2.

I'm looking to assign each for only 5k which would be 10k for both.

One is a multiplex with a rental income on 4 units of 1695 a month. The next property is a duplex right next door and the 2 units bring in 1040.

I have been researching LLC's for a while now and I am not quite sold on starting one for my real estate investing business. I am curious to hear what others have done about starting an LLC and some of the benefits. I am currently just interested in wholesaling properties at this point but later on I will be purchasing properties for a buy and hold strategy. I understand that a LLC makes you look more credible but what other benefits could it offer a wholesaler?

I would love to get some great conversation going about this one!

Thanks

Nick

I have been a member of the Success Academy for several years. I am also a licensed Realtor of 30 yrs. Recently, I have had some good success with NPN and SFR REO pools from servicing companies and banks. However, I have been unable to crack the wholesaling nut. We have a ban on bandit signs in our city/county. We also are unable to get pre-foreclosures. We see nothing until it is ready for auction. Looking for some guidance on getting through and being able to accomplish the one thing that means so much. We really want to wholesale in our own town. Any ideas? I have done craigslist adds to no avail. Been to REI clubs and not made any headway.
Thanks,
Deb

I have been a member of the Success Academy for several years. I am also a licensed Realtor of 30 yrs. Recently, I have had some good success with NPN and SFR REO pools from servicing companies and banks. However, I have been unable to crack the wholesaling nut. We have a ban on bandit signs in our city/county. We also are unable to get pre-foreclosures. We see nothing until it is ready for auction. Looking for some guidance on getting through and being able to accomplish the one thing that means so much. We really want to wholesale in our own town. Any ideas? I have done craigslist adds to no avail. Been to REI clubs and not made any headway.
Thanks,
Deb

I'v been going over some foreclosure listings that my agent has sent me and I see a lot of them that say:
"This is a Fannie Mae HomePath property. Purchase this property for as little as 3% down! This property is approved for HomePath Renovation Mortgage Financing. This property is being sold as-is."
Has anybody worked with any listings like this and are they able to be wholesaled?
If so, is there anything different about the wholesale process than say an REO? Like different paperwork, terms, etc.?
Also, does anybody understand the HomePath Renovation Mortgage Financing aspect of the program and could you please explain it?
Any advice would be great. Thank you in advance.

Rick

Hey guys I think I have spent way too much time over analyzing stuff that I have totally confused my self. I'm looking at a property and I'm trying to figure out how much to offer. The house is a 3 and 1. I was originally was gonna offer .65-rehab. My wife read the 30days to realestate cash and the formula there ia different. its basically 15% minus rehab and profit is separate.
Lets keep this simple if this were your deal for a wholesale and say it needed like 10k of work what would your max offer be say your trying to make 5k. I really need to get the ball here.
Thanx guys.

Hello Fellow Investors-

I have 2 investment properties that need to be assigned asap in northwest illinois.

I did some heavy negotiating on these deals to make sure the investor gets some good cash flow and profits right away out of this.

Negotiated seller to pay closing costs and they have an agent, so they are also paying that. Also negotiated to receive rent from each unit for that month of closing and any security deposits attached. Plus, got great prices on these 2.

I'm looking to assign each for only 5k which would be 10k for both.

One is a multiplex with a rental income on 4 units of 1695 a month. The next property is a duplex right next door and the 2 units bring in 1040.

I have a house I want to flip and even though it's all brick, looks great and in excellent condition structurally speaking, it's very large with a large lot and finished attic; it only needs updating.

It's from the late 1800's and the only thing that concerns me is the age. Would I be able to find buyers for such a house? I heard that there are regulations when it comes to fixing old homes.

Can anyone give me more information on that?