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Craig

Pre foreclosures

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If anyone has pre-foreclosure Leads, Send them my way. I give the best referral fee's known

I mean people send me List of pre-foreclosures but they are not Qualified.. Send me a Qualified lead and we can make some massive money doing short-sales!

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Well, it's obvious you fellas haven't heard of the new four letter curse word: MICHIGAN Okay, so there's more letters but who's counting?

 

Craig,

To answer your question, YES YES YES YES YES! YES you can do an SLO or CA ALL DAY LONG on a pre-foreclosure. All you have to do is bring the payments current, or; YES have the seller talk to loss mitigation and TELL THEM they have a renter and need to push the late payments to the back of the loan. THEY WILL work with you! And yes, if you do it you will need an authorization to release information so you can call and talk to them yourself. Here's something all you may not see in your pretty little "appreciating" worlds :blush: ; banks are DUMPING properties to other banks RIGHT BEFORE redemption. I would be pissed if they did this to me (as a bank buying), but they offer a bunch of "okay" properties to the new bank in bulk as long as they take a couple of loser properties. Then when you call the bank you can be like; dude, do you know what they did to you guys man? You don't want this property!

 

I have pulled out several homes from foreclosure simply by using the CA. I just give half of my assignment (consideration paid down) from the buyer to the seller. I tell the seller to return beer bottles, ask a neighbor or whatever they need to do to come up with the rest of the back payments. It's very simple and it works.

Hope that helps,

Adam

 

Adam:

 

Thanks for the insight. I am shocked you had that answer. Up in your woods Wendy says she never touches anything with any money problems.

 

Craig

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If anyone has pre-foreclosure Leads, Send them my way. I give the best referral fee's known

I mean people send me List of pre-foreclosures but they are not Qualified.. Send me a Qualified lead and we can make some massive money doing short-sales!

 

How does one qualify to be your pre-foreclosure? I got a ton of them in Boston and Rhode Island but there at zero equity and a head ache.

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hey guys....nice thread. Speaking of pre-forclosures and short sales, do any of you have any recommendations on a good book to read regarding this topic? Seeing the way the market is going, I would love to become knowledgable on these type of transactions. Thanks in advance!

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If anyone has pre-foreclosure Leads, Send them my way. I give the best referral fee's known

I mean people send me List of pre-foreclosures but they are not Qualified.. Send me a Qualified lead and we can make some massive money doing short-sales!

 

How does one qualify to be your pre-foreclosure? I got a ton of them in Boston and Rhode Island but there at zero equity and a head ache.

 

It does Not matter Equity or No Equity...

AnyBody that is willing to Short-Sale their property! I am looking for properties Fl. But I might Have a Connection

In Rhode Island.. But I work out of Fl. so anything you can find in Fl. Would help. Now I have to check to see what I can do for your neck of the woods! A qualified Lead will Tell you they want to Sell Fast! I run into a few HomeOwners that don't want to Sell, but there In pre-foreclosure. So they want to keep their home but they can't afford it. :blush:

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I have pulled out several homes from foreclosure simply by using the CA. I just give half of my assignment (consideration paid down) from the buyer to the seller. I tell the seller to return beer bottles, ask a neighbor or whatever they need to do to come up with the rest of the back payments. It's very simple and it works.
Adam, I don't know man. You may be giving the seller enough $$ to get out of town. Or, if the seller doesn't collect enough b-bottles and can't bring the loan current and goes into foreclosure anyway...now that T/B is calling you back and asking what the hell is going on. Not picking on you Adam, just seems to be a big hole here?

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Interesting thread with a number of different viewpoints. But I have to stick to mine. While short sales can be profitable, they require great patience to deal with the bureaucratic BS the lender will usually put you through. On the other hand, in light of today's real estate market, if you are a cash buyer and can purchase for .50 on the dollar, then this is a business model that makes sense.

But, getting back to Craig's original post, I am not comfortable bringing a loan current for any homeowner on a lease option. If I'm coming out of pocket to do so, I'm going to need the title in my name to make me comfortable.

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First off, you guys are all nuts ALL OF YOU! ;)

 

Second, no you don't want to do a CA on a foreclosure, that's sure to piss off the listing agent! :D

 

Adam:

 

Thanks for the insight. I am shocked you had that answer. Up in your woods Wendy says she never touches anything with any money problems.

 

Craig

 

Wendy who? You mean the one who booked a$$ down to the south to do pre-construction when things got rough up here? Seriously, I respect her but the guy who basically taught her is my promoter and very much believes in my systems. So how's that for pulling rank? :P

 

Seriously, the CA is a powerful tool and can be used to save all types of property issues. Pre-foreclosure means "HELP NOW" and a CA can do that. With the economy changing and more banks wetting themselves', seller financing is HUGE!

My two cents.

Adam

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. . .Wendy who? You mean the one who booked a$$ down to the south to do pre-construction when things got rough up here?. . .Adam
You mean that same chick who came down to FL to start buying preconstruction condos in '05, at the peak of the market, and who now has students, (who paid $5K each, I'm told), crying in their beer because their properties have lost 20% in value, and are renting for $700 per month less than their monthly payments? That Wendy?? :D

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The Wendy that had supposedly mastered the impossible of getting realtors to bring her SLOs from all over the country? Is that the Wendy we're talking about?

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If anyone has pre-foreclosure Leads, Send them my way. I give the best referral fee's known

I mean people send me List of pre-foreclosures but they are not Qualified.. Send me a Qualified lead and we can make some massive money doing short-sales!

 

How does one qualify to be your pre-foreclosure? I got a ton of them in Boston and Rhode Island but there at zero equity and a head ache.

 

 

short sale, you handle the deal I'll teach what do and I get paid a certain amount, you keep the rest.

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hey guys....nice thread. Speaking of pre-forclosures and short sales, do any of you have any recommendations on a good book to read regarding this topic? Seeing the way the market is going, I would love to become knowledgable on these type of transactions. Thanks in advance!

 

 

 

 

 

Tom Butler's

 

Short sale Magic

The complete Real Estate Investing system CD & DVD about $50

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