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About jbeard1086

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  1. would i have to put some sort of release of liability in an adendum of some sort or would i have to use a seperate contract specifically for a release of liability.
  2. what is a release of liability from a seller
  3. How would i go about closing a deal with a L/O would i let my assignee of contract handle it, or would i have to use my own title company, escrow agent, or some kind of closing attorney that i appoint.
  4. How would i go about releasing myself from a lease option to assign it to another buyer
  5. Although this week I learned some lessons the hard way about some major changes in the state where I do reside I do have one other question pertaining to the feasibility of assigning short sales. In speaking to the lender that accepted a short sale payoff with me they told me that I cannot assign my interest to another party. Is it pretty much the norm that all lenders will not allow someone to assign their interest to someone else on short sale offers even if the end buyer can show that there is proof of funds? There are two other deals that I currently have short sale offers on, and I was planning on assigning each of them for a small fee (1-2k) to another investor. If the bank is getting a bad debt (soon to be foreclosure) off their books, and that it's a guarantee why would they care if it's being assigned or not. I would think that the bottom line is "we're getting our money....period". If I'm unable to assign a couple of these deals then I will have to let them go, and then they'll end up going to foreclosure. Thank you all for your time, and for sharing your thoughts. If anyone can give a good answer to this question from a user on another forum i would appreciate it. My thoughts would be to simply have the seller talk to the bank about the sale price and dont inform the bank of what you do because once the seller signs the l/o with the and/or assign statement you should be able to do what you prefer with the contract
  6. Are there any short sale experts out there who can tell me what i may need to know other than the basics. Like maybe what to look out for when performing a short sale using a l/o
  7. When the notice of default is sent to a homeowner does that record go to the courthouse that same day
  8. if i were to tie up a pre forclosure with a 45-60 day l/o would the bank still be able to foreclose on the property even though i have an intrest in the property through contract. also do you know about how long it would take for a rehabber's loan to go through so that i could assign the contract before the property foreclosed if the bank can forclose with my intrest in the property.
  9. If i were to tie up a property for 45-60 days using a l/o in hopes of a quick flip would i take my contract to the title co. and order a simultaneous close as soon as i get the sellers signature under contract
  10. What could I do to find hard money lenders?
  11. Has anyone ever considered partnering with someone who has good hard money for the purpose of buying REO's so that the banks wont be able to object to you flipping the contract after you have negotiated a good price I.e i would search for reo's negotiate good prices forward them to an investor who has hard money and get a cut same as if i were to flip contract during a pre-forclosure. If not tell me what do you think about the idea
  12. If i were to perform a wholesale flip with a home in pre foreclosure how would i go about getting the seller or buyer to make up the back payments so i could assign contract and complete the deal.
  13. If there is a lock box on a home listed with a realtor is it safe to say that the home is vacant
  14. Can anyone tell me why is flipping scrutinized when playing the middle man in a wholesale flip, or even when using l/o agreements? Also, will flipping using l/o make it hard for me to complete deals?
  15. Thanks Michael well could you possibly help me out on where i could get a good contract to do a quick wholesale flip in which i would get the seller to give me 45-60 days until purchase so i can find a good rehabber to assign the contract to. Other than a lawyer because i'm tight on funds.
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