Preforeclosure Deal Time Is Running Out.
I have an out of state preforeclosure lead that I would like to bird dog to another investor. Not sure of where to start since I do not know of any investors in that area. What's the best way to go about this deal? Time is running out. :-D
See if you can turn up an investing club in that county (or neighboring county) and call or email the club owner. They'll surely know someone hungry for a deal (if they don't take it themselves).
I have already done that and have not received a response. I called and emailed the president of the reia
Unless you have a private connection, maybe they know about it?
I am always concerned home much I tell prospects, investors and brokers for fear they will snag the deal.
I can give deals. i didn't want to advertise on the board. Please send me a private message if interested. thanks
Help....The deal is tight and only good if an investor did a short sale or rental
It would help if we knew where the out of state lead was
-Chris
[addsig]
The deal is located in Los Angeles, CA.
Knowing this part of LA, and as a learning experience I will say the following.
1) I just pulled live comps from the area, they don't match what the broker is pitching.
2) an automated apprasial of 183K is what Freddie mac said it was worth not 220 or 225.
3) brokers misrepresent info all the time
4) the area is not a nice area at all (if people know Watts, S. Central LA, or where the Rodney King riots started)
Deals that look good frequenly aren't. I think the hardist part I have dealt with if obatain good tools, methods, and understanding of want makes a good deal.
The owner had an official appraisal done by a licensed appraiser in November 03 and it is higher than your freddie mac report of 183K.
She has done renovations.
Please do you due diligence.
Might be tight now but not with a short sale. :-D [ Edited by fancyyounginvestor on Date 06/05/2004 ]