Foreclosure Redemption Period: OK to Work with Sellers?

Posted on by Cam Dunlap

Hey there, Cam Dunlap here. So, I was recently asked this interesting question on my coaching hotline:

“Could you go through how working with the seller during their redemption period for both mortgage, lien, or tax foreclosure would work and what we need to be aware of?”

Sure thing!

First, know that every state is a little bit different. Some states don’t have redemption periods, at least with regard to foreclosures. And, there may be a redemption period for a tax sale in an area where there is no redemption period on a foreclosure. 

Before we dive into that question

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How Much More Is a 3rd Bedroom Worth?

Posted on by Cam Dunlap

Cam Dunlap here, with an interesting question that was asked during a recent coaching call. I’m paraphrasing for clarity:

You found a property that could be a good deal: 3-bedroom, 2-bath, 1-car garage. The best nearby comps: similar square footage & amenities, but they’re both 2-bedroom houses. What percentage more is this 3-bedroom house worth?

Obviously the property is worth more because it has that 3rd bedroom. 

But how much more? 

Well, it depends. 

Sorry, not the awesomest answer, I know.

See, it depends on where the house is… and that’s such a broad variable that there isn’t even a

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Finding Private Money Lenders Today

Posted on by Cam Dunlap

Hey there! A great question came into my Deal Maker hotline that I want to share in this here article.

“What are some of the better ways to find private money lenders?”

First, money lenders are all around you. 

But!

There is a little bit of competition that we haven’t had for a long time — I’m talking for about 2 decades, with interest rates at or hovering around zero for as long as they did. There was no good way to get any yield without exposing oneself to greater risk than, say, a money market account or short-term Treasuries. 



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Can “Short Title” Problems Kill Your Deal?

Posted on by Cam Dunlap

I got a question into my hotline recently, and I’d like to share the details with you, here in my blog.

The caller asked:

“What’s your advice on the easiest way to get a property under contract? I have a ‘ready’ buyer who’s pre-approved but has been having trouble getting a property under contract.”

Ok, let’s iron out a few details first…

First, I’m assuming the “ready” buyer who’s pre-approved is a retail buyer.

Why?

Because the client used the term pre-approved, which means the buyer is engaged with a lender — presumably, a conventional lender, and they’re looking to

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