How to Buy a Pre-foreclosure | FOLLOW THESE STEPS

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In this training video, you’ll learn how to buy a pre-foreclosure and how I made $82K on this deal. Follow the same steps, you can too. I’m also going to share the story behind it. Because the story is what tells me the motivation, the owner’s situation and ultimately guides me through the deal.
You’ll also learn how I calculated the numbers, before and after pictures, the Ad that sold it, some tips that can save you thousands… and a couple of mistakes I made.
And as we shift into a change in the market with foreclosures, my goal is to help you gain the knowledge to successfully work the business and get started on the RIGHT PATH.
WATCH THE ENTIRE Pre-foreclosure Training Series:
• How to Invest in Pre-f...
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👁 Who is Chris Goff?
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.
*Thank You!
I would personally like to welcome you to our family where we actively seek the future. I’m just trying to inspire you to get started in the cash generating business of real estate investing. I’ve have helped thousands of people like you make thousands of dollars. Whatever your real estate investment goals are, I wish you much success. I will do everything within my power to help you become financially independent, and help you love to be alive. Be sure to subscribe and click the notifications bell to be notified of my newest training videos.
#preforeclosure #realestateinvesting #realestatestrategies

Опубликовано:

16 окт 2024

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Комментарии : 127

@thedrummersclub3667 Год назад

You are the BEST on RU-vid. I need your personal Coaching PLEASE. How do I contact you? We can do Facetime..... Thank you

@ChrisGoff Год назад

Appreciate that, you can learn more at: www.chrisgoffrealestate.com/coaching/

@Anaiya2022 2 года назад

You've earned a new subscriber. I just did something similar here in Orange County, CA. But we split 200k with the owner 50/50 and helped them relocate to Louisiana.

@ChrisGoff 2 года назад

That's AWESOME!

@MrInflnzr 6 месяцев назад

That was so helpful. There's a family with a similar situation here in California. I was going to speak to them today and see what I could do. Im just getting into wholesaling and would like to do the right thing.

@ChrisGoff 6 месяцев назад

Glad it was helpful!

@middlegroundnegotiations3565 Год назад

Thank you Chris, I have the same passion however couldn't find detailed steps to purchasing a pre foreclosure. Thank you for having a giving spirit.

@ChrisGoff Год назад

Thank you for this very kind comment. Glad it helped!

@myfriendlyagent8134 2 года назад

awesome video! I have some questions. Maybe i missed it in the video, but I'm assuming the home owner (family) had to leave the property during the renovation. Did you help pay (moving cost / rental costs) for wherever it was they moved to as part of the acquisition strategy? Also, do you ever offer the current owner's some more money once you sell the property to help incentivize this transaction or is just getting them out of their dire situation incentive enough?

@ChrisGoff 2 года назад

Thanks man! The owner had already left the property in this case but most of the time I do offer moving money to help them out. And that number depends on how all the other numbers work out. Hope this helps!

@bobghy5865 8 месяцев назад

I guess he said it's vacant

@reneegenesis8953 2 года назад

Thanks for this video....Great content!!!...Would you ever recommend getting a private or hard money loan to do one of these deals?...You answered my question....thanks!!!❤

@ChrisGoff 2 года назад

Yes, absolutely

@mrt4085 Год назад

It's a miracle that you got a real estate agent to agree to help you do a subject to. Excellent work !

@ChrisGoff Год назад

Appreciate that but easier than you think once you know how.

@investordangdaniel 2 года назад

Subscribed! Valuable information. Thanks Chris!

@ChrisGoff 2 года назад

Awesome, thank you!

@Yiwaki 6 месяцев назад

Great content!! So the owner didn’t get any financial gains, correct?

@ChrisGoff 6 месяцев назад

Appreciate it! Not with this deal. The owner's motivation was to not have a foreclosure on his credit report; that was the most important thing to him.

@stickfigure9662 8 месяцев назад

Great video. In the process of buying my neighbors preforclosure. My question is were do you obtain a good printable contract I could give them to sign that the bank would be ok with?

@ChrisGoff 8 месяцев назад

We have one in REIPro. Otherwise, you should have an attorney draft one up.

@nikolayvolosatov7337 3 года назад

It was really interesting story. Thank you for sharing.

@ChrisGoff 3 года назад

You're welcome, glad you liked it!

@zondawean5031 2 года назад

Waaaaaaaaaay AWESOME video! Keep up the good work.💯❗❗❗

@ChrisGoff 2 года назад

Appreciate that!

@jonhaden5401 Год назад

Is this scenario more likely to happen to someone who recently bought the house..or in other words, someone with little equity in the house?

@justingtejeda Год назад

Yes it is more likely to work with properties with little to no equity

@ChrisGoff Год назад

They must have equity to make the deal work. I shoot for a min: 20% equity.

@thaitime9716 2 года назад

thank you for great information. Could you tell me what is the name of floor technology that you use ? i love the way to look

@ChrisGoff 2 года назад

Appreciate it! You can just Google Concrete Overlay, there are many brands.

@SalEsrepre 11 месяцев назад

Hey Chris, thank you for sharing this inspirational experience. My questions are: Who initiated the Short Sale? Was it the homeowner, the bank, the real estate agent, the Homeowner Association, or some other party? I didn't quite get that part. Please advise. Thanks

@ChrisGoff 11 месяцев назад

The investor and seller combined initiate the short sale process by submitting to the bank. It's up to the bank to approve. Hope this helps!

@SalEsrepre 10 месяцев назад

Chris, thanks for getting back to me. Can you please share how you communicated with the initial investor? I am asking because I am looking at a property in the NYC market valued at $1.4 million, listed as a "Short Sale." However, the asking price is extremely low, and virtually no one is looking at it. Please advise. Thanks.@@ChrisGoff

@LifeAfterAwakening 2 года назад

So, the flor overlay. Is i concrete? Seems you are saying it's sort of alternative. Could you please share a contractor's website? I just want to understand what exactly it is made of...

@ChrisGoff 2 года назад

You can Google 'concrete overlay contractors near me' and learn more about what it is and pricing. Hope this helps!

@reaabeer1040 Год назад

Did the agent get a commission in the end?

@ChrisGoff Год назад

The agent would have, but she decided to step away and allow me to help these people.

@eddiecenteno8 6 месяцев назад

Inlike your detailed explanation. Thank you i just subscribed

@ChrisGoff 6 месяцев назад

Awesome, thank you!

@josephhernandez9428 Год назад

Newbie question: Was this a sub to deal? I will be targeting pre-foreclosures soon and wondering what other strategies are out there. I'll be virtual wholesaling, so I assume it would be very difficult to utilize this strategy? Anyways, thanks for the great video. You were very detailed!

@ChrisGoff Год назад

Thank you for that, and YES, it was a Sub2 deal. I'm not a fan of virtual wholesaling for many reasons unless you have someone who can personally look at the property. Virtual wholesaling is just a bunch of hype.

@velwear Год назад

Nice close! If I were the agent, I would have inquired about a commission as well but I guess she had already given up. Either way, it worked out. love this Chris.

@ChrisGoff Год назад

Appreciate it! Thanks for watching.

@jcastro6650 2 года назад

Great video. Was the bank ok with the owner deeding the property to you that easily as long as mortgage payments were being made and back payments? Did the bank make legal documents to tranfer the mortgage to you or did they require you to get a new loan with them?

@ChrisGoff 2 года назад

We don't work with the bank during any part of the transaction besides getting loan balance, etc. And the mortgage doesn't get transferred, only the deed. The original loan will be paid off when you sell the property. Hope this helps.

@jcastro6650 2 года назад

@@ChrisGoff yes. Thank you for sharing your knowledge and for helping people.

@deanthonydupree3955 3 года назад

Just so I'm clear you took over the property Sub 2?

@ChrisGoff 3 года назад

Yes, that is correct.

@Able9Rock Год назад

What does to mean to have the distressed property owner "deed you the property?" What kind of deed was used? What is this process? How were you able to take over payments on the mortgage? Was the mortgage assumable?

@ChrisGoff Год назад

No loan is assumable anymore without qualifying. We have the attorney draw up the agreement and deed and then file it. You own it, it's that simple. We have a great training series on this whole business in REIPro's Education Center. www.myreipro.com/

@emitch562 11 месяцев назад

Thank you so much. I'm retired and I would love to help people. I have subscribed to your channel for more content and stories.

@ChrisGoff 11 месяцев назад

Awesome, thank you!

@eddiearriaga3800 3 года назад

Wow great video. Thank You 🙏

@ChrisGoff 3 года назад

You are very welcome and thanks for the comment.

@Ashley-eb2wp Год назад

Hey Jeff So if you didnt use a Realtor; how did you market this property?

@ChrisGoff Год назад

A Realtor had it marketed when we bought it but backed out of the deal. We did, however, use a Realtor to sell it.

@FancyTexasHomes 3 года назад

What’s a good place to do a basic title search? Mainly Texas

@ChrisGoff 3 года назад

Any local title company can do it. There’s not one better than another. You can also have a closing attorney do it but build a relationship with either one.

@joec1631 8 месяцев назад

And where do u get the money to bring the mortgage up to date?

@ChrisGoff 8 месяцев назад

Your money, credit card(s), hard money, private money, or assign it to another investor that has money. Hope this helps!

@JamesWilliams-nb6zc 2 года назад

Grateful for this video!

@ChrisGoff 2 года назад

Glad it was helpful!

@Danew-ip6cr 2 года назад

Learned so much! I want to be able to help people in need like that! Do you need a purchase and sale agreement with a "subject to " clause when aquiring the property from the owner? Or is there a seperate "subject to" agreement?

@ChrisGoff 2 года назад

Thank you and everything is contained into one agreement. Hope this helps!

@blacklifeapparel1125 2 года назад

I'd like to know how many mortgage payments did u make before u sold it?

@ChrisGoff 2 года назад

I believe it was 4 payments

@blacklifeapparel1125 2 года назад

@@ChrisGoff thanks Chris! didnt expect the reply! Im a Chris also..lol, so did u set a certain amount aside for that expense?

@ChrisGoff 2 года назад

@@blacklifeapparel1125 yes it should be pre- calculated

@kabulshamaly9388 3 года назад

Thank you so much for a good experience

@ChrisGoff 3 года назад

Appreciate that

@LRey85 29 дней назад

That is a gorgeous house, I would have bought it!

@tupapimanny8364 2 года назад

The best part was when you said figure it out! So dang true no room for excuses when your in the real estate game. Love the video. I’m barely starting my journey not gonna flip house but going to rent them out and there’s so many around. How do you know the total debt cost if your on a web site and there’s only a lawyers name and number but they don’t call back

@ChrisGoff 2 года назад

Appreciate the comment. You need to speak with the owner to get the total debt. Attorneys rarely will work with you.

@come2idlewild 7 месяцев назад

Great Share…late to your video…But, love the info presentation. Thanks…Poncho C

@ChrisGoff 7 месяцев назад

Thanks for watching!

@kennebunk21 2 года назад

Also is there a certain form or contract to get the property deeded

@ChrisGoff 2 года назад

You must use an attorney to draw up the deed and I prefer you have them draft up all the documents.

@brandonray4379 Год назад

How would I structure a preforeclosure deal/ run numbers?

@ChrisGoff Год назад

Big question and every deal is different. Good news: we have a new release that walks you through the offer process for pre-foreclosure coming out this month.

@brandonray4379 Год назад

@@ChrisGoff I can't wait

@ChrisGoff Год назад

@@brandonray4379 comes out tomorrow

@jameskosek985 Год назад

this is awesome insights

@ChrisGoff Год назад

Appreciate that... check out my latest release: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE--K0Ypg9ZQjo.html

@alexandriarogers9689 6 месяцев назад

How can I learn how to do preforeclosures in dept. Are you selling a Course

@ChrisGoff 6 месяцев назад

We have an entire series of training in REIPro or personal one on one coaching. www.myreipro.com or www.chrisgoffrealeatate.com

@sunset_travels 3 года назад

Chris is the best 🙌

@ChrisGoff 3 года назад

Appreciate that!

@davidhinchman6567 Год назад

isnt that referred to as sub 2 ?

@davidhinchman6567 Год назад

correct me if im wrong thank you

@ChrisGoff Год назад

@@davidhinchman6567 It is a seller finance strategy where you take over payments. A Sub-2 is nothing more than a sentence we put in a seller finance agreement when there's an existing mortgage on the home. There are so many people on RU-vid claiming a Sub-2 is a strategy :)

@kennebunk21 2 года назад

How does the homeowner get any money from the deal?

@ChrisGoff 2 года назад

It depends how you structure the numbers but once it has been completely fixed up and sold, they could receive money from that closing.

@cwa951 2 года назад

So did you give the seller any of the profit??

@ChrisGoff 2 года назад

No, the seller was grateful that I stopped the foreclosures and saved his credit. You can however on these deals if the numbers make sense.

@DAMON409 7 месяцев назад

How do you beat all the competition when you find these?

@ChrisGoff 7 месяцев назад

Knowledge and REIPro Software. There isn't much competition in all reality, especially in the pre-foreclosure market.

@DAMON409 7 месяцев назад

@@ChrisGoff ok thanks

@kulturjjj Год назад

How can I do so of this without using my own money, is that even possible?

@ChrisGoff 11 месяцев назад

You can either get private money, hard money or wholesale the deal.

@dianecelento4974 Год назад

Why would the realtor give this property away to you when she could have gotten 2.5-3% to sell it? Or did you give her some. Maybe I missed it.

@ChrisGoff Год назад

Because she couldn’t sell it with the repairs that were required to sell to a qualified buyer. She was getting ready to lose the listing and she thought this would be the best chance to help the owner. Hope this helps!

@dianecelento4974 Год назад

@@ChrisGoff Ok thank you for the response.

@mrprfct7069 4 месяца назад

Who paid the taxes on the sale ?

@ChrisGoff 4 месяца назад

In this case, the investor.

@ryanknowsrealestate 2 года назад

lol o. KW. That’s why. Lol

@megankagarise8485 2 года назад

You could have just stolen this property from the owner? Once you have the deed you didn't have to pay him shit

@ChrisGoff 2 года назад

Could have, not the way I do business.

@megankagarise8485 2 года назад

@@ChrisGoff how'd you earn his trust? Either he just didn't care or he was dumb. And so was that realtor. You know that. I know that. The realtor clearly sucked at her job and was lazy. I mean, this is exactly what MaTT cox did with properties that had tax liens

@megankagarise8485 2 года назад

@@ChrisGoff it doesn't make sense how someone could just willingly hand over their deed to a stranger. Why didn't he just sell it as is ? He owed more than it was worth?

@ChrisGoff 2 года назад

@@megankagarise8485 he did care and he wasn’t dumb as you say. If you really want to learn, maybe ask in a different way and not be so negative.

@megankagarise8485 2 года назад

@@ChrisGoff I guess I would have to know The property history, and his loan details. Only way I could see someone handing over a deed to someone on pure trust that you'd pay him is if he was really upside down, had creditors or loan sharks after him, or was on the run? I want to learn. I want to know what you paid a lawyer and if you had a contract in place ?

@alexandriarogers9689 6 месяцев назад

How can I learn how to do preforeclosures in dept? Are you selling a course? @ChrisGoff

@ChrisGoff 6 месяцев назад

We have a complete training series in REIPro that will help walk you through the entire strategy. www.myreipro.com/