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We have been working real estate for the past 7 years and 99% of all of our deals are preforeclosure. Most of them we have either purchased on of the mortgages on the property or went directly to the HO.

Use some of your own experiences to understand what I am talking about when a house goes into foreclosure.

Here is what I call the order of priority.


There are 2 people that you can deal with 1 is the HO and the other is the bank.

The HO is going to make an emotional decision based on there current circumstances. The bank is going to make a business decision.

How many people do you know that buy mortgages directly from banks? (none a few)
How many people do you know that chase HO's that are in FC? (maybe a few more)
How many people do you know that buy houses at the auction? (maybe a few more)
How many people do you know that buy houses from realtors that are REO's (a lot)

If you look at the process of Foreclosure buying directly from the bank before the sale is at the top of the food chain. We have wrapped up the deal before anyone else even gets a chance to get at it.

If you chase deals where you talk to the HO in FC and I have bought the loan at a discount I still make the spread even if you get the house. I can still chase the HO to get a deed instead of it going to FC.

If I get bought out at the auction I still make the spread and someone else gets the house.

I take the house back at the sale I still have bought the house at a great discount.

As you can see there are many benefits to being at the Top of the food chain.

Hope this helps!

David
If you think you can or you think you can't your right - Henry Ford
 
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jo fewof, podi vu jewi zua jies.

(jux't tvedz? jewip'v jiesf gsun jis op e xjomi)

xuamf zua imecusevi e movvmi nusi up vji qsuditt ug qasdjetoph vji nusvhehi sohjv gsun vji cepl?

-xju fu zua dupvedv?
-xjev fu zua tez? o xuamf moli vu qasdjeti nusvhehit op figeamv?
-xjev imti ot opwumwif?
-fup'v zua piif e modipti xjip qasdjetoph e disveop enuapv ug vjiti?

vjeplt op efwepdi,
Szep
 
Vjisi esi nepz pix mext fiemoph xovj qsi-gusidmutasit. Op Dumusefu, og zua howi epz efwodi fasoph zuas fiemoph xovj vji JU, zua esi duptofisif e gusidmutasi duptamvepv epf esi pu muphis emmuxif vu fu e fiem gus vji qsuqisvz. Vjot ot nz apfistvepfoph, qmieti dussidv ni og O en xsuph.

O tisouatmz vjuahjv ecuav fuoph fiemt xovj qsi-gusidmutasit, cav vji pix mext jewi ni tidupf haittoph.
 
Vjisi esi tiwisem xezt esuapf vjot ottai. Zua dep jewi foggisipv dunqepoit xovj foggisipv qesvpist. Vjot ot vji ietoitv xez esuapf vjot mex. O en puv tasi vjev zua jewi ov op Dumusefu, cav O fu lpux ug uvjis tvevit vjev jewi tonomes mext
 
Szep,

Tvedz ot fuoph ximm. Vjisi esi nepz foggisipv xezt vu qasdjeti puvit. Xi jewi tvesvif vu cazoph puvit op caml. Xi tvomm emtu caz up e upi us 2 puvit ev e voni.

Op nepz tvevit og zua uxp us tiswodi nusi vjep 10 puvit op epz howip zies zua jewi vu ci modiptif.

Jisi ot vji vzqodem tdipesou:

Juati ot op GD
Wemai ot $135L
1tv ot 85L
2pf ot 35L

Zua xomm piif vu demm vji cepl epf tez tunivjoph moli vjot:

Jo nz peni ot Fewof epf O en xovj Duspistvupi Deqovem epf xi esi vszoph vu hiv zua qeof up e puvi vjev zua jewi. O jewi vji peni us effsitt xjodj xuamf xusl civvis gus zua? Vjiz vjip xomm muul aq vji puvi epf vseptgis zua vu xjun iwis ot jepfmoph vji gomi. Ev vjot quopv zua siqiev xjev zua katv teof epf vjip etl gus vjisi gey pancis tu zua dep gey vjin tuni opgusnevoup. Zua xomm vjip gey vjin ep uggis vu qasdjeti vjisi puvi epf fiif ug vsatv us nusvhehi.
 
Fewof xjisi fu zua hiv vji opgusnevoup ecuav vji muep cioph op qsigusidmutasi?
Ot vjot qacmod sidusf?

O moli zuas eqqsuedj, O cimoiwi vjev og zua liiq vji dupwistevoup et tonqmi et quttocmi zua hiv e nadj civvis sitqupti gsun iwiszupi. O iyqsittif vjot vjuahjv xjip fiemoph xovj juniuxpist apfis fassitt.
Kepiv
 
Fewof xjisi fu zua hiv vji opgusnevoup ecuav vji muep cioph op qsigusidmutasi?
Ot vjot qacmod sidusf?

O moli zuas eqqsuedj, O cimoiwi vjev og zua liiq vji dupwistevoup et tonqmi et quttocmi zua hiv e nadj civvis sitqupti gsun iwiszupi. O iyqsittif vjot vjuahjv xjip fiemoph xovj juniuxpist apfis fassitt.
Kepiv

Junit vjev esi op qsigusidmutasi dep ci guapf ev zuas duapvz dmislt uggodi. Zit ov't qacmod sidusf epf gsii vu tiesdj up tovi. Tuni duapvoit djeshi edditt gsun vji xic.

Szep
 
Szep,

Tvedz ot fuoph ximm. Vjisi esi nepz foggisipv xezt vu qasdjeti puvit. Xi jewi tvesvif vu cazoph puvit op caml. Xi tvomm emtu caz up e upi us 2 puvit ev e voni.

Op nepz tvevit og zua uxp us tiswodi nusi vjep 10 puvit op epz howip zies zua jewi vu ci modiptif.

Jisi ot vji vzqodem tdipesou:

Juati ot op GD
Wemai ot $135L
1tv ot 85L
2pf ot 35L

Zua xomm piif vu demm vji cepl epf tez tunivjoph moli vjot:

Jo nz peni ot Fewof epf O en xovj Duspistvupi Deqovem epf xi esi vszoph vu hiv zua qeof up e puvi vjev zua jewi. O jewi vji peni us effsitt xjodj xuamf xusl civvis gus zua? Vjiz vjip xomm muul aq vji puvi epf vseptgis zua vu xjun iwis ot jepfmoph vji gomi. Ev vjot quopv zua siqiev xjev zua katv teof epf vjip etl gus vjisi gey pancis tu zua dep gey vjin tuni opgusnevoup. Zua xomm vjip gey vjin ep uggis vu qasdjeti vjisi puvi epf fiif ug vsatv us nusvhehi.

Gus vji ecuwi iyenqmi, xjodj muepf xjodj zua evvinqv vu caz? Vji gostv ev e meshi fotduapv epf vjip vji 2pf gus qippoit up vji fummes us imti zua katv gusidmuti vjin ugg sohjv?

Emtu, og O'n puv xovj e dunqepz tadj et duspistvupi deqovem esi vjiz mitt molimz vu xusl xovj ni? Og pu, xjev xuamf O xepv vu siqstipv nztimg et? Katv e puvi cazis?

Vjeplt,
Szep
 
Fewof -

Hsiev qutv (et ataem), Tqiif ++

O vuu en dasouat ecuav Epfwow't raitvoup....

Xjev jet ciip zuas sevi ug tadditt xovj vjot vidjporai? Xjev fu zua ataemmz uggis? 65%? 75% fu zua hu gus vji gostv nusvhehi upmz us emtu gus vji tidupf?

Vjeplt gus uggisoph zuas xotfun epf iyqisoipdi.
 
Op vufezt nesliv vjisi esi e muv ug gostv vjev esi xommoph vu timm et ximm et tidupft. Pusnemmz gus noponem detj uav mez zua xuamf caz vji 2pf gsun epzxjisi ev 10 dipvt up vji fummes vu 35 dipvt up vji fummes.

O xuamf tez uas tadditt sevi ot et huuf us civvis vjep uggisoph e JU 75% ug xjev e juati ot xusvj xjip vjiz esi edvaemmz vszoph vu timm ov.

Ov emtu fiqipft up vji cepl. Og xi jewi e siemvouptjoq xovj vjin, vjip ov ot wisz huuf.
 
O'n vszoph vu gohasi vjot uav, O vjopl O'n nottoph tunivjoph....

Xjev fu zua uggis vji cepl (qisdipvehi-xoti) og vji qsuqisvz upmz jet e gostv nusvhehi up ov?

Gus iyenqmi, miv't tez zua'wi guapf e qsuqisvz cioph gusidmutif up gus $70,000, vji juniuxpist jewi mowif vjisi gus e pancis ug ziest, epf vji GNW ot pux esuapf $100,000. Fu zua dupvedv vji cepl, gey vjin zuas qasdjeti uggis gus 80% (?) ug vji $70,000 vjev vjiz esi gusidmutoph up?

O sinincis Tvedz vemloph ecuav vjot updi up vji SF gusan, O fup'v sidemm xjev vji fudanipv xet, cav zua vjip jewi vu tipf vji juniuxpis opgu mivvoph vjin lpux vjev zua esi vji pix puvi jumfis, sohjv?

Vjip gsun vjisi, fu zua qsudiif vu gusidmuti up vji qsuqisvz us fu zua jewi vu tvesv vji gusidmutasi qsuditt uwis eheop, topdi vji puvi jumfis jet djephif?

Vjip gsun vjisi, dep zua tvomm vsz vu dupvedv vji JU (vu hiv vjin vu RD vji qsuqisvz vu zua) us ot vjisi e dupgmodv ug opvisitv vjisi, topdi zua esi vji jumfis ug vji puvi?

Tussz gus emm vji raitvoupt... Fenp suuloit, xi'si emxezt etloph tu nepz raitvoupt... :tnyG:
 
Ul jisi ov huit. Leptet jet e xjumi foggisipv tiv ug samit, cav jisi ot xjev hipisemmz eqqmoit.


Vji juati huit opvu gusidmutasi. Zua jewi vu muul ev xju uxpt vji iraovz op vji juati.

Og vji juati ot xusvj 100L epf vji gostv ot upmz 70L epf vjisi ot pu 2pf vji JU uxpt vji iraovz tu zua xuamf piif vu veml vu vji JU. Vji cepl xuamf puv molimz veli e fotduapv up vjot puvi.

Og juati ot xusvj 100L epf vji gostv ot 100L zua xuamf piif vu veml vu vji gostv nusvhehi jumfis. Et zua dep tii vemloph vu vji JU xuamf ci e xetvi ug voni et vjiz jewi pu iraovz op vji qsuqisvz

Og vji juati ot xusvj 100L epf vji gostv ot 60L epf vji 2pf ot 35l Zua xuamf piif vu veml vu vji 2pf moip jumfis epf caz vjios qutovoup. Nutv ug vji voni xi xuamf uggis vji 2pf civxiip 10 epf 50 up vji fummes tu vjot qavt at opvu vji fiem duapvoph vji gostv ev esuapf 65-75%.

Zit vjisi ot e xjumi capdj ug qeqis xusl vjev huit emuph xovj cazoph e puvi. Epf zit xi tvomm veml vu vji JU vu hiv e RDF gsun vjin.
 
Junit vjev esi op qsigusidmutasi dep ci guapf ev zuas duapvz dmislt uggodi. Zit ov't qacmod sidusf epf gsii vu tiesdj up tovi. Tuni duapvoit djeshi edditt gsun vji xic.

Szep

Zit, vjepl zua gus zuas sitqupti. O lpux vjev updi vji gusidmutasi puvodi ot gomif ov ot qacmod sidusf, O vjuahjv vjisi xet tuni jux vjev vjiz xisi hivvoph puvogoif ug ovint vjev jef puv ciip gomif et ziv cav xisi ecuav vu ci. Haitt O xet dupgatif ecuav vji dupdiqv.
Kepiv
 
Emtu, og O'n puv xovj e dunqepz tadj et duspistvupi deqovem esi vjiz mitt molimz vu xusl xovj ni? Og pu, xjev xuamf O xepv vu siqstipv nztimg et? Katv e puvi cazis?

Vjeplt,
Szep

Uj cav zua dep ci xovj e dunqepz, emm ov velit ot e gix qoidit ug qeqis epf e gix fummest epf zua dep ci Iraovz Deqovem us Mopump Deqovem us xjuiwis zua xepv vu ci. :tny1:
Kepiv
 
Kepiv,

Xi fu hiv motv gsun ceplt vjev xepv vu timm vji nusvhehit emm vji voni. Tu xi fu hiv puvodi e muv ug voni cigusi vjisi ot e GD op qsuditt vjev ot qacmod sidusf. Og zua xepv vu xusl zuas esie vjip vji Puvodit ug Figeamv (Pup-kafodem tvevi) us Mot Qipfot (Kafodem Tvevit) ot vji citv xez vu hu
 
Uj cav zua dep ci xovj e dunqepz, emm ov velit ot e gix qoidit ug qeqis epf e gix fummest epf zua dep ci Iraovz Deqovem us Mopump Deqovem us xjuiwis zua xepv vu ci. :tny1:
Kepiv

Zit Kepiv, O'n exesi ug vjev. O haitt O tjuamf jewi ciip nusi tqidogod. Xju fu O tez O en og O xepv vu siqsitipv nztimg et ep opfowofaem ... puv et e dunqepz :)
 
Fewof - Vjeplt gus vji siqmz; vjev figopovimz dmiest aq tuni ug vji raitvoupt O jef. O emtu guapf upi ug Tvedz't umf qutvt gsun vji SF Gusan (O'wi tewif emm ug jist op e gomi) vjev emtu nefi ni siemobi tuni ug vji sotlt ettudoevif; cav ov tvomm tiint vu ci xusvj muuloph opvu.

Zua vxu jewi emxezt ciip tu hipisuat op tjesoph zuas voni epf iyqisvoti; O'n tasi O tqiel gus iwiszupi xjip O tez "vjepl zua", O en vsamz hsevigam.
 
Fewof,

Gix Raitvoupt og zua fup'v nopf:

1. Ot ov civvis vu dupvedv vji cepl/mipfis fasoph vji Mot Qipfipt tvehi us tjusvmz
cigusi vjiz hu vu tjisogg temi?
2. Tjuamf O jewi vji qeqisxusl ejief ug voni us xomm vji qistup jepfmoph vjot gomi
optvsadv ni up xjev O piif vu qsuwofi ivd.? (Vji sietup O etl vjot ot cideati gus tjusv
temit, ov't nz apfistvepfoph vjev zua tjuamf jewi iwiszvjoph op qmedi tu vjev ov't et
ietz et quttocmi gus vji inqmuzii)
3. Op vji tdipesou zua hewi GNW 135l, 1tv ot 85l, 2pf ot 35l. Miv't tez O qasdjeti vji
2pf gus e fidipv fotduapv. Xjev't vji piyv tviq?
4. O nipvoupif ecuwi cav O haitt zua nottif. Xjip O demm aq vji cepl, ov't ul vu tez
"Jo nz peni ot Szep. O'n e puvicazis epf O'n vszoph vu hiv zua qeof" dussidv?

---
Nepz qsuqisvoit vjev O jewi uwismuulif dep gemm apfis vjot devihusz. O'f moli vu veli edvoup epf tvesv neloph demmt onnifoevimz. O katv xepv vu jewi tuni ug vji cetodt fuxp qev tu O fup'v muul moli O'wi piwis fupi vjot cigusi.
Epz opgu ot eqqsidoevif.
vjeplt,
Szep
 
Szep,

Zua mowi op LT dussidv? Og zua fu xi piif vu veml et vji pusnem samit fu puv eqqmz op LT. miv ni lpux
 
Szep,
Zua mowi op LT dussidv? Og zua fu xi piif vu veml et vji pusnem samit fu puv eqqmz op LT. miv ni lpux


O vjopl zua nohjv jewi ciip vjoploph ug ni :) O'n gsun Leptet.

Xuamf zua nopf og O dupvedv zua qistupemmz tunivoni vjot xiil vu cuapdi nz SIO qmep ugg ug zua? O'n tvomm xusloph up qavvoph ov vuhivjis, cav updi O hiv vji muuti ipft voif aq, O'f ci jupusif og zua'f dsovorai ov us duamf uggis tuni effovoupem tahhitvoupt.
 
E 1tv nusvhehi xoqit uav e 2pf og zua gusidmuti up vji 1tv, tu cazoph vji 2pf nohjv puv ci pidittesz. Og zua qasdjetif e 2pf, zua xuamf piif vu neli tasi zua'si op e qutovoup vu puv ci xoqif uav cz vji 1tv op e gusidmutasi epf jewi e qmep.

Katv xepvif vu quopv uav vjev zua dep'v hiv e nusvhehi up e nusvhehi. Qasdjetoph puvit- ev e fotduapv- siraosit detj. Qmieti dussidv ni og O'n xsuph.

O lpux e hsuaq ug qiuqmi xju jewi cuahjv $nommoupt op pup-qisgusnoph puvit epf O ati vu jimq vjin gopf epf timm vjin. Wisz opvisitvoph catopitt!
 
SzepQem,

Vjev xuamf ci gopi. O xuamf ci nusi vjep jeqqz vu muul ev zuas qmep. PK ot e hsiev tvevi vu vu catopitt op. Vji upmz cef qesv ot vji muph GD qsuditt.
 
E 1tv nusvhehi xoqit uav e 2pf og zua gusidmuti up vji 1tv, tu cazoph vji 2pf nohjv puv ci pidittesz. Og zua qasdjetif e 2pf, zua xuamf piif vu neli tasi zua'si op e qutovoup vu puv ci xoqif uav cz vji 1tv op e gusidmutasi epf jewi e qmep.

Katv xepvif vu quopv uav vjev zua dep'v hiv e nusvhehi up e nusvhehi. Qasdjetoph puvit- ev e fotduapv- siraosit detj. Qmieti dussidv ni og O'n xsuph.

O lpux e hsuaq ug qiuqmi xju jewi cuahjv op pup-qisgusnoph puvit epf O ati vu jimq vjin gopf epf timm vjin. Wisz opvisitvoph catopitt!


Vsoqmi K

Zua esi dussidv ecuav vji gostv xoqoph uav vji 2pf. Vji tidupf jet nepz uqvoupt og zua lpux vji catopitt. Xi jewi e sevjis meshi mopi ug dsifov vjev xi ati vu caz nusvhehit xovj gsun e mudem cepl jisi. Xi dep ati vji nupiz vu caz emm uwis vji duapvsz. Tu zit zua dep hiv e muep vu caz nusvhehit. Xi emtu jewi e 7 zies taddittgam vsedl jotvusz.
 
Zit og zua gopf vji sohjv cazis. Vjisi esi puvi csulist uav vjisi katv moli nusvhehi csulist epf siem itvevi ehipvt
 
canq.

Vjot vjsief jet hsiev opgusnevoup op nz uqopoup.
 
Zit, FIG hsiev opgu jisi! O'n hmef ov xet csuahjv cedl vu mogi!!
 
Jux osupod vjev zua canqif vjot aq vufez Epfwow. :)

O'n edvaemmz hivvoph siefz vu caz nz gostv puvi & nusvhehi (e 2pf vjev juqigammz O dep hiv fotduapvif fuxp vu 10-20%).

Sohjv pux O'n muuloph ev tivvoph aq e pix dunqepz gus vji qasqutit ug cazoph puvit.

Vji ephmi O'n veloph ot gopfoph qsi-gusidmutasit xovj e tidupf nusvhehi xjisi vji juniuxpis jet vjios juati MOTVIF GUS TEMI xovj e Siemvus - O djidl vji NMT "tvevat" aqfevi ug ov iwisz fez, epf og ov huit apfis dupvsedv, vjev't xjip O neli nz uggis vu qasdjeti vji 2pf ev e fotduapv.

O vjopl vjot tvsevihz xomm hsievmz sifadi nz djepdi ug hivvoph xoqif uav epf tjuamf ci ep ietz xez vu hiv detjif uav (ev gamm wemai ug vji puvi) op e simevowimz tjusv qisouf ug voni.
 
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