All Forum Posts by: Alexander Lloyd

First of all @Namon Thorn never go by the assessed value. That means nothing. Get comps from a realtor, and get them to send you a CMA(comparative market analysis). This will tell you what the house is really worth.

Second, you need to know what the cost of the repairs will be. Get a couple of reputable contractors out there and have a real estate agent let you and them in to give you some estimates. Here is my formula for knowing how much I can offer:

***EXAMPLE OFFER***

ASKING $25,000

$50,000 ARV

$35,000 *70%

$20,000 -Repairs

$3,000 -$3K Closing Costs and Points for Borrowing Funds

$5,000 -Profit(=10% of ARV)

$1,500 -Counter Offer Margin(=3% of ARV)

$5,500 = Max Purchase Price

$4,400 *I Make my initial offer at 80% of Max Purchase Price

This was really simple, I appreciate this.

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Originally posted by Chris Martin:

We are in an attorney state, so you need to find a competent closing attorney who specializes in investor real estate closings.

Late response, but thank you very much. I am actively looking for one now

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Welcome to the site

@John Barber Jr. , I'm just getting started as well so I have no advice for you thus far, but well wishes.

Prosper in wisdom and in finances. Peace.

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Joe Gore I'm looking to do just that! I listened to the Adam Mazarillo interview and was highly intrigued.

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I LOVE this site, thank you Josh Dorkin, Brandon Turner, and all the other people involved who I don't know about.... but anyways.

I haven't been able to go to my local REIA meeting yet, but I wanted to know as a wholesaler in NC what is the BEST title company to use for A) Double/Simultaneous closing, B) Assignment of contract, or C) BOTH...

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Hey I'm new to this wholesaling thing, but I think I found a property out in Zebulon, NC that I really want to get. The terms are looking like "an assignment with $5K earnest deposit, and possibly $63900 with 21 days to close".

Can someone else check this out and tell me what you think?

Here's a link to the property.

http://raleigh.craigslist.org/reo/4130963271.html

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Originally posted by Mehran Kamari:

Welcome to BiggerPockets @Alexander Lloyd!

I definitely can appreciate your ambition, but I'd have to agree with Mike that 1-2 is pretty soon. Anything is possible though!

What methods/processes do you have in place to locate these deals you're looking to wholesale?

I do not have any. I just believe I can do this and am willing to put in any work that is needed to become a success.

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Originally posted by Mike Nelson:

Happy Birthday, @Alexander Lloyd ! Welcome to BP. 1-2 weeks is pretty soon, how much do you know about Wholesaling so far? I assume you've started your marketing? Online coffee shop sounds really cool. :)

I know nothing about wholesaling, but I'm willing to learn everything about Real Estate Investing to get me rolling. It doesn't have to be 1-2 weeks, but I do need some direction...

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This is Alexander Lloyd reporting live and direct out of The Piedmont Triad! I'm writing this post on my 25th birthday and my background in real estate currently is that..... I've lived IN a house before. So I look forward to you all using my story as I journey in to the marketplace and create success. Currently I have an online coffee shop, and I work as a retail consultant and Sprint. My goal is to wholesale a house in the next 7-14 days and to create passive income for myself by December 1st 2013. I look forward to seeing you all, not at the top but over the top!

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All Forum Posts by: Alexander Lloyd

Alexander Lloyd has started 3 posts and replied 10 times.

Post: Anyone interested in Meeting up in the TRIAD area?

Post: Deal or No Deal!?!

Post: I'm looking for a wholesaler in NC, what escrow company can we use?

Post: New Member From DETROIT! In Shreveport ATM

Post: I'm looking for a wholesaler in NC, what escrow company can we use?

Post: I'm looking for a wholesaler in NC, what escrow company can we use?

Post: OBVIOUSLY a good deal............ right?

Post: NEW-B out of Winston-Salem, North Carolina!

Post: NEW-B out of Winston-Salem, North Carolina!

Post: NEW-B out of Winston-Salem, North Carolina!