Posted by I.R. on April 19, 2003 at 20:39:52:
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flipping forclosiers - Posted by Fred (Maryland)
Posted by Fred (Maryland) on April 19, 2003 at 17:44:27:
I am very interested in this since I just read Joe Kaiser’s Chat/Article in the Article section. Want I to know is what advantage is this to the Home owner being forclosed verses going bankrupt? His or her credit is already a disaster and I assume he or she is loosing the house whether it is sold or forclosed. I have heard of cases going bankrupt and then buying a house a year later or even keeping the house.
Re: i have a question on flipping properties - Posted by wayne o’connor
Posted by wayne o’connor on April 20, 2003 at 24:15:47:
once i find a property to flip, & i dont want to take title, i know i can put on the contract my name and or assign’s & add a right to assignment on my addemdum, what i want to know is this, since iam not taking title, do i have to be at the closing ? or do i just give the contract to the person at the title company & have the seller & the new buyer meet there , after i give the title company all information
Re: flipping forclosiers - Posted by Kristy-Az
Posted by Kristy-Az on April 19, 2003 at 22:54:50:
Fred,
It sounds like all you have done is read a few posts here on line. You need to study further… especially if you are thinking of getting into foreclosures.
I searched, and researched and studied and researched some more. After 2 years of research and asking questions and finally meeting other investors, we bought our first property. Guess what, we lost money on it!!
At that time, we didn’t buy any courses, I didn’t know about this web site or other investment sites, I just learned from what I knew was available, which wasn’t much.
After buying a few properties, I bought a few courses and books. They all pretty much said the same thing. Some were better than others, some gave me alittle more helpful info to add to my library. I knew most of the stuff in the courses, but found a few little things that were new to me.
I also found this web site which has helped me tremendously when I have come across potential deals that are out of my comfort zone.
You need to study more than 2 articles on this site. You need to know why seller should try avoid foreclosure. You need to know that bankruptcy doesn’t always stop a foreclosure. And you need to know what a foreclosure is.
Keep researching and study more. Ask questions, and when you think you have it all down, ask more questions, because things are always changing.
Kristy-AZ
almost forgot; What is bird dogging?nt - Posted by Fred (Maryland)
Posted by Fred (Maryland) on April 19, 2003 at 18:10:11:
nt
Re: i have a question on flipping properties - Posted by Brent_IL
Posted by Brent_IL on April 20, 2003 at 24:31:51:
If you are using a title company and they will accept your assignment, give them copies of any relevent documents, tell them what you want, and the closing officer will tell you what you have to sign in order to get it done.
Don’t call it a “double close.”
Re: flipping forclosiers - Posted by Fred (Maryland)
Posted by Fred (Maryland) on April 20, 2003 at 08:36:29:
You guessed it. I am new at this. My biggest problem at this point is deciding which coarse/s to get. I went to the articles section and with each article I read, I want to buy everything from that author. They all seem excellent. Anyway, thanks for the advice. Keep it comming.