Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: Godson on June 06, 2005, 02:42:20 pm

Title: Wholesaling. Need help pls
Post by: Godson on June 06, 2005, 02:42:20 pm
This how I am assuming to put a deal together. I am from indianapolis, IN

1. Go to the court house and look for homeowners in NOD(notice of default) I tried getting thses listing from title companies her in my state. So far they are not provided.

2. Contact homeowners by phone or letter. Once contacted ask about the property, liens, back arrears and repairs.

3. Run some Comps in the area to find out what the ARV will be.

4.Then get the deal under a purchase to buy contract.

5. Run a title search. Title searches here in indianapolis run from 125 and up.
is there anywhere else I can run title search

6.If for example 110k is owed 1st and 15k owed on the 2nd but the FMV is 125k,, should i try and do a short sale with the bank?

7. Once al that is down, find a buyer and have him inspect the house then have him sign a assignemt contract and have him pay me up front. Or have him me half now and the rest at closing. Have him sign a promisary note.

So is this how do it. Let me know if someonce can explain it better.

Would really appreicated. Are state is the top for foreclosure.