All Forum Posts by: Andre Douglas

@Mike Cumbie there is this cool thing called a clue report that many people don’t know about. But the report will tell you all of the insurance claims that have been done on a property. Which in my case water damage. Which is something they failed to disclose and properly address.

Experience with suing the seller of a property you purchased

I understand under the statute of limitations a buyer can sue a seller within 6 years of purchase if they feel they weren’t honest on the property disclosure form (TN being a full disclosure state). Has anyone had any experience with suing a seller? I’m weighing out all options and wondering the best place to begin. I would assume a lawyer specializing in real estate would be key but wanted to hear from someone who’s actually been through the process. Thanks!

Investor special!!! I’m looking to wholesale a 4,912sq 3bed 4bath home in Lebanon, TN. It’s Well maintained home sitting on 1.3 acres. I’m asking $415k. It needs some cosmetic updates. Currently appraised for 450k so you’re stepping into equity. And we believe it has a minimum ARV of 475k. Should I pitch this here? It’s my first wholesale.

Thanks Steve, That’s good info.

Well it’s very common for two investors to work together on a fix and flip. And the percentages range from 50/50 split to 70/40 and so on. But if neither investor is a real estate agent, then they would need one. Which turns into an expense on the flip. But if one of the investors spouse was a real estate agent. Then how does compensation(%profit) work? An agent has their fee that is typically 3%. So, is that double dipping for the partner that receives his 50% of the split plus the 3% agent fee the spouse receives?

Hello Bigger Pockets community. I’m trying to figure out the numbers/percentages for a profit split between two investors where the spouse of one of the investor is used as the real estate agent. I would assume the profit split is between the two investors and the agents commission is separate. But to be fair, I’m wondering if anyone else has had to construct a deal with these 3 components?

Hello bigger pocket community. I’m new to Nashville as a resident and i own two properties here. A primary and a rental that my wife and I are doing really well with via Airbnb. I’ve saved up a nice amount of cash that I’m looking to put back into my investments through the Brrrr process or a simple flip. But I’m looking for other investors here in Nashville or the Mount Juliet/Lebanon area to build with. I Would love to collaborate with someone or just meet other like minded individuals in town.