socharming1

Arlington Co. in Va says a house variance was approved in 1999. Builders added to existing home 2001. Builders built 8 inches rear and side, over the line. House must be set back 8 inches. Is it possible to move a house? 7bed/7 bath Valued at 10100000 ONE HUNDRED ONE MILLION (unable to write big #'s ) Assessed at 993000.00 On market since 8/04 asking 699,900. will settle for 600,000. Why hasn't anyone else jumped on this. All the officials I called knew about the house. Does anyone know how to make this work? And how to structure the deal so I don't have to depend so much on HM?

It is my understanding that whomever is involved in a closing ie agent, buyer, seller, you....will get a hud-1. I had a wholesale deal where oddly enough seller, buyer, myself and my agent sat in the same closing (for 4 hours, don't ask ). Everyone at the table got the hud-1, sellers saw what I was getting for my expertise, they didn't care because they paid ZERO and the buyers we're INVESTOR's and knew the score. Hud-1's are always necessary before any documents are signed because it tells exactly who is getting and paying what!

Couple in Laurel, Montana going to foreclosure. Listed for 3 months, didn't sell. They're desperate. Fire in 2001, ALL NEW INSIDE! On 3 acres 5 payments behind. Foreclosure due to outstanding medical debt Payoff amt. $105,000 Listed for $180,00 (expired) What's your offer? Couple needs to be followed up with tomorrow (Wed.) You may email me at socharming11@aol.com

I see all these ads on auctions and of course the names of "trustees." How does one become a trustee, for other folks properties? Is it as lucrative as REI and is there any special training or certification needed? Thanks

Asking price $439 Comps only one sold in 2002 for $300 tax roll assesses at $308,000 Rental rates $1600-$1800 4b/3.5 ba, fl, 3 lvls. He's advertising as FSBO instead of RTO (he is selling as RTO) He has set his own sale date at end of tax year 2005 asking rent 1645 option consid. 2195 No work needs to be done, many upgrades, move in condition. I figured I'd off $412,660 (6% off top) Offer $1645 consideration (paid by tenant buyer, I get what's left) set my sale price at $462,660 rent for 1850 Don't know about rent credit tho. What kind of LO you ask, Sandwich? Now, on to the forms.....I have your manual in front of me....

Here we go.... I found a property for LP, I have tons of forms, what is really necessary. I have your book Michael, anything in there I can use. I live in VA and have all the contracts. But it is very over whelming. What do I use just to tie up the property and begin advertising for TB? Thanks so much!

Hey Doug, What deposit? How much and why do you get to keep it? How do you do a credit check and whats the cost? Thanks

I see where folks advertise they're in desperate need of immediate cash BUT don't won't to move out of house or sell! They ask for LOTS of cash, to stay and rent the property for ONE year and then buy it back from you. I'm privy to all other aspects of investing but haven't quite got this one figured out. Could you explain the steps and forms used? How risky is this to an investor and how much should one walk away with? Tall order I know but I know Kim, Doug, MC and others can handle it . Thanks soooo much!

Thanks again Kimberly You are very knowledgable If I didn't know better I might tend to think you trained MC heheheh Good day all! MC notice I posted in the AFTERNOON :ph34r:

You're right Michael! Thought I'd post early and let the bar folks go home early If you're not up past your bedtime or Kim if you're around could you also tell me the documents needed for a wholesale deal? I have so many documents, I'm trying to get organized! I have a checklist for a LP and for Michaels CA's and now Kim's Sub2 ...My head is spinning Thanks all

Geez you're quick on the draw Kim Thanks a million I've been reading your MANY posts as of late. You are making quite a name for yourself on this forum In a positive way, I mean Thanks a bunch kiddo!

Okay folks, I reallyyy could use a fast and accurate answer. What are the exact names of all the forms needed to do a sub2??? Thanks so much And yes Mike I do have your book, haven't had an opportunity for a CA yet though! Happy Investing

Seller has house 2/1 rambler, full basement, oil heat, ac, new deck & roof. Needs only windows replaced. Problem: She bought it in April under the premise that her and hubby would fix up (add on) on 1/2 acre land. Hubby is a player, not interested. She separated from him, home is in her name. sale price was 399,999 there was an escalation clause (?) She ended up paying 411,000. She tried to sell for $440,000. Both sales fell through due to financing. Her mortgage is a very hefty $2300 per month. Even in our hot market in Northern VA this is steep. I wanted to do a lp with her but, very afraid I couldnt get enough rent to pay her mortgage. She's stuck and considering renting it for 1500 and paying rest out of pocket. Is there anyway to structure this so I can buy with seller financing, avoid her high payment, and so she can benefit? Please help!!!!

Here's my 2.5 cents I have researched REI for the last year, drove neighborhoods and researched properties on the internet (eased myself into it). FEAR is what has kept me back. Fear of THEM asking me a question I can't answer and then I'll look stupid and blow it. FEAR that they'll know that I have little to no experience. FEAR that I will actually fumble my way into a DEAL and then what? I have one deal I will be closing at the end of June. Fear has held me back from finding any deals in 4 weeks. I am now tired of fear and have started a letter campaign to people I see moving, to FSBO's in my farm area, I now go to "Open House" just to look at properties and talk to the agent's. When I feel comfortable and more assured, I run right home and CALL FSBO's & FRBO's. IT WORKED!! I have an appt. today with foriegner's that want to return home and want to rid themselves of TH AND lonely old man offering 80% financing on big, nice house owned free and clear! Once you pick up the phone and while it's ringing (remember to breathe) either the owner is going to pick up (then too late to back out) or the answering machine will pick up, practice leaving messages. I hope this helps someone

Hi all, I'm have a deal or two under my belt. I've dealt in a SS and a WS. I understand the LP concept. BUT, I have been hearing about CA's on the sight for a while now. Is the concept that I would help a seller sell under a lease option and take the OC as my fee? If yes, I'd need a contract with the seller in order to help him set this up, correct? Would I find this in MC's $97 book? Thanks so much for the help.... P.S. Hi Mike, I'm one of minh's students!

Hi all, I am familiar with most aspects of realestate investing however, on this site lately I have heard lots about "COA's" How does it work and what forms are used? Please help Thanks

I need your help folks, First deal scenario: Auction set for 2/20/04 SFH, 4 bd, 3 ba, 1 fireplace, driveway, partially finished basement. yr. built 1980 Original price $169,000 First $167,000 Second $ 30,000 No other leins Monthy payment $1,832 yrly taxes $2,463 Arrears $7,000 (includes atty. fees) family is set on staying in the home (not losing possession) small kitchen update $3,000 House is in excellent condition inside/out. Any suggestions? I would be so greatful. My mentor is out of town and I'd really like to seal my 1st deal. Official appraisal 10/2003 $240,000 Comps $250-$260,000 Helppppppppppppppppppppp PLEASE

You can also check out "patlive.com", live operators who will read scripts, screen your calls, do internet searches and lots more.... It's a very good serice for REI! Good luck!

Oh yeah... Don't forget to join you local investment club! They are all investors! Good luck, again

Wow 20 homes and only been in the business a month?! Well done. I don't know what ads you have ran in your LOCAL paper, but try: Rent to own 3bd, 2ba Going fast!!! Tonya xxx-xxx-xxxx You could also post signs (rent to own) on the lawns of the properties. Your phones should be ringing off the wall.....soooo many with challenged credit. Good luck Where are you located?

Hi Joseph, If they are wanted to sell then they should expect questions! Just say, "I picked up the home info sheet and I was wondering how you came about the asking price?", "Is this an appraised value?" The appraised value is the "important" value! Maybe the home owners felt that was what there house was worth or they got comps from their realtor. If the figure is not an appraised value, then no worries. Good luck

Hi all, Please help me??? I convinced a well none (in VA) L/O entreprenuer to mentor me ON MY PAYMENT SCHEDULE. He offers a mentorship program of 6 months for $1485 up front! I don't have credit card or that kind of cash right now. I sent him a creative and heart pouring email pleading for him to give me a chance. I tried to relate to inner feelings!! IT WORKED!!!! Now, he wants my marketing plan and business plan. Can anyone give me a quick run down of both? I have an LLC and haven't any deals to this point. HELP........ Thanks in advance folks

Newbie question please?! If a seller has an agent, can they cancel and sell to me as a L/O without having to pay the agent their commission? (my first post) Thanks for help (HI Cruz)