How to Invest in Pre-foreclosures

How to Invest in Pre-foreclosures | Episode 1 of 7

Рет қаралды 79,452

4 жыл бұрын

Learning How to Invest in Pre-foreclosures is one of the most rewarding strategies that helps people avoid the foreclosure process. In this complete training series, you’ll learn how to find pre-foreclosures, what to say, how to structure the numbers and selling the property.
THIS PRE-FORECLOSURE TRAINING SERIES CONSIST OF 7 EPISODES.
WATCH EPISODE #2:
• How to Invest in Pre-f...
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Chris Goff started Real Estate Investing in 1999. Chris didn't have any money to work with, so he was interested in learning 'no money down' real estate strategies. Since then, Chris has spent the last 2 decades building wealth in real estate along with building the #1 Real Estate Investing Software Program for Real Estate Investors… REIPro.
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#preforeclosure #realestatestrategies #sellerfinancing

Пікірлер: 46

@chris-un4rm 2 жыл бұрын

Great content Chris... Thank you for giving away the nuggets.

@ChrisGoff 2 жыл бұрын

Thanks!

@sltownsend100 3 жыл бұрын

Greetings, Chris: How does one create a new deed and create a new agreement wrapped around their agreement with their bank?

@ChrisGoff 3 жыл бұрын

All of the paperwork should be handled by an attorney. Especially a closing attorney that can create all the closing documents too.

@sltownsend100 3 жыл бұрын

@@ChrisGoff Thank you, Chris, for taking time out of your busy schedule to answer my question. You are the man.

@petertorrance7928 4 жыл бұрын

Good training video

@ChrisGoff 4 жыл бұрын

Thank you!

@alext3437 2 жыл бұрын

Chris do you recommend using a second mortgage arrangement with a lien filed while doing sub 2? Dont want the seller to create another mortgage on me. Not sure it the question makes sense. Thx

@ChrisGoff 2 жыл бұрын

When they deed you the property, they can’t create a new lien because they don’t own it. Hope this helps

@alext3437 2 жыл бұрын

This is awesome Chris now after coming to an agreement with a seller should I find a buyer first(flip)or should I get it under contract first? Thx

@ChrisGoff 2 жыл бұрын

Always get it under contract first! Hope this helps and glad you like the video.

@millankhalifa7458 Жыл бұрын

@@ChrisGoff mw

@michaelevans1198 4 жыл бұрын

Hello again Chris, on the Reipro website, did I hear you say on the seller finance videos theres a way to send multiple offers to potential sellers

@ChrisGoff 4 жыл бұрын

Hey Michael, Yes, in step 4 in any property, you can make an All Cash Offer, Lease Option Offer and a Seller finance offer. You can then print all 3 offer sheets straight from the system. Present all 3 offers at the same time which will help increase your chances of getting an offer accepted. Thanks for the question.

@jennylee2904 4 жыл бұрын

Very informative, thank you Chris! When is episode 2 coming out?

@ChrisGoff 4 жыл бұрын

Hi Jenny, Episodes 2 - 7 are in our real estate investing software... www.myreipro.com. Only episode 1 is available on my KZfaq channel. Go check it out

@roxiebruce530 4 жыл бұрын

Very helpful information!🤗 thank you 🙏

@ChrisGoff 4 жыл бұрын

Thank you!

@Deanstruction1 4 жыл бұрын

I’m a little confused. If you do seller financing with a pre-foreclosure how is the owner capable of financing you? Does the lender who holds the original mortgage do the financing? Does the wraparound mortgage go in my name?

@ChrisGoff 4 жыл бұрын

The seller doesn't actually loan you money, it all in the paperwork (Wraparound agreement). We will be taking over their current payments and making payments on their behalf until we fix up and sell the home. The original financing never changes. This will explained more in the other episodes in REIPro. Thanks for the question.

@Deanstruction1 4 жыл бұрын

Awesome! Thanks Chris!

@hagi2013 4 жыл бұрын

Can you make a video that making the calls & all the scripts you use. Thanks appreciated

@ChrisGoff 4 жыл бұрын

Thanks for the idea!

@andyvaldez7714 4 жыл бұрын

What's the difference between pre-forcloser and forcloser?

@ChrisGoff 4 жыл бұрын

Andy, a foreclosure is the entire process where as a pre-foreclosure is in the beginning of that process. Hope this helps.

@valeriejohnson4204 2 жыл бұрын

Cris, do you ever share your profits on these deals to encourage a yes answer from the ppl in?preforeclosure?

@ChrisGoff 2 жыл бұрын

I usually don’t because if they don’t do the deal, they will lose the house and ruin their credit. That should be motivation enough.

@valeriejohnson4204 2 жыл бұрын

When is the right time between the 121 days they have to come current to approach someone in pre foreclosure?

@ChrisGoff 2 жыл бұрын

ASAP, but a min of 1 week prior to auction date to have time to speak with them, inspect the property and complete the deal. Sooner the better.

@lonestarr1707 4 жыл бұрын

Next video should be abt how to approach/talk to pre-foreclosure ppl

@ChrisGoff 4 жыл бұрын

This is all included in the other episodes in REIPro Software.

@lonestarr1707 4 жыл бұрын

Oh shit!! My boy Chris Goff is BACK!!! Sean Terry & Chris Goff 💯 I live in ATL ...hey Chris can I call u if I have questions on a deal

@ChrisGoff 4 жыл бұрын

Thanks man! A lot more coming this year so get ready. I only give personal advice to my coaching students for liability reasons, sorry. We will be doing a 2-Day Live Event in Atlanta this year though. We are working on scheduling as we speak.

@lonestarr1707 4 жыл бұрын

@@ChrisGoff let me know ASAP I will be there

@jesusbrito3378 Жыл бұрын

What software, i.e. REIpro, are you referring to?

@ChrisGoff Жыл бұрын

Absolutely!

@jesusbrito3378 Жыл бұрын

@@ChrisGoff thank you for clarification

@NevinBrownLLC 4 жыл бұрын

Thanks for the video, when will you come to DC, MD or VA to teach a live class?

@ChrisGoff 4 жыл бұрын

Maybe one day!

@virtuallyglorious 3 жыл бұрын

Omg it sounds so complicated. I'm sitting thinking how can I do this?

@ChrisGoff 3 жыл бұрын

You could always start with a different strategy and build some confidence before tackling this one? Just a thought.

@jjg8452 3 жыл бұрын

Hi Chris i noticed that you don't elaborate on another technique i see workable and it is Curing default, walk away $ and buying subject to utilizing a an equity wrap. Why don't you include that? Is there something i am missing?

@ChrisGoff 3 жыл бұрын

Thanks for your question. I think we're talking about the same thing because anytime you do a seller finance, you are taking it subject to with a wrap. You have to cure the default to make this work. You could also wholesale this deal and I have a training at: kzfaq.info/get/bejne/o6magpaDt9DKd4k.html

@jjg8452 3 жыл бұрын

@@ChrisGoff thanks Chris

@lexdadog 4 жыл бұрын

Chris thanks for the information you give..truly valuable. However, I noticed that all your deals and examples center around single family. I am curious to know if you will be doing a video series covering seller financing, master lease options and making multiple offers on multifamily (5,15, 50+ units) property using reipro. How do you structure those deals term deals (master lease options, subject to) when the property is cash flowing but the owner wants to sell? What do multiple offers look like in those scenarios? Does your software support multifamily valuations as well as it seems to support single family? I am in the NY, Nj, PA market. Thanks in advance.

@ChrisGoff 4 жыл бұрын

Hello, our software does provide you with all commercial property information and all of the strategies work the same no matter if it's residential or commercial. If the seller is wanting to sell, then offer a seller finance. Instead of looking at just 1 rental unit, you look at several but the strategy wouldn't change. This would be a great time for all creative financing strategies for sure.