All Forum Posts by: Alex Andrews

Hello All!

I am just wanting to get a better understanding of the interaction between the wholesaler and buyer. 

After getting a property under contract, taking it to title company along with EMD, and making contact with a buyer... Do I let the buyer know the purchase price I put the property under contract for and let him know what my wholesale fee is or do I get him to agree to a purchase price that already contains my wholesale fee?

Any help is greatly appreciated! 

TIA

Hi Joshua,

How were you able to find a let a bank let the equity in the home count towards the down payment? Was this a local bank? Did you have a prior relationship with the underwriter? 

Thanks! 

@Taylor L. I'd love to attend as well! 

@Linsey Conlon https://www.biggerpockets.com/forums/50/topics/411577-attempt-at-brrrr-with-no-mortgage-on-property?page=1#p2582662

Thanks @Chris Malo!

Just spoke to Village Bank about a week ago. They do cash-out-refinance, but you had to have owned the property for 6 months. 70% LTV @Matthew Mellon

Hey all! 

Anyone in the Richmond area in need of FREE help? I'm willing to help out turning over apartments, installing flooring, painting, taking pictures, etc.

I'm looking to learn as much as possible and willing to help if I can! 

Thanks @Brent Raber! I know this gets into the realm of potentially providing legal advice, but would you be comfortable sharing a redacted copy of one of your contracts? I want to get an idea of how to write one up. 

@Brent Raber Thanks for the motivation man! Quick question: with your private lender, did you have a formal contract or more of a verbal agreement? Also, how did the bank feel about you using borrowed funds for a down payment? I'm right on the cusp of a deal.

Thanks!

Hello! I have a family friend who has excess cash from a small business and is willing to lend to me for RE investing. I am interested in using this cash to purchase an undervalued rental, rehab, rent and cash out refinance. Does anyone have access to a sample mortgage contract I could use with this family friend? I want to have everything lined out in writing to put everyone's mind at ease. 

Any help is greatly appreciated!

Thanks,