All Forum Posts by: Anton De Vries

I have come across a deal that could net a nice profit, and  am a little strapped on cash as ive invested in another deal. I am looking at a house that needs around 10 - 12 k of work. The seller has had the house on the market 42 days with only one offer. here is my offer i want to make, and want to know if I can do this legally

- 10k under list

-owners take the  house off the market

- they hold the house while I invest my money to rehab

- after rehab the house is releisted with the same agent 

- at selling they get the price we agreed on and they pay their costs of that price to the REA

- at selling I pay my costs on my profit to the REA

How do I protect myself legally? I have not presented the offer yet, I want to make sure this is something I can do. Thanks for the help

@Josh Torres. welcome to BP. wilmington can be a tough area. you just have to run your own campaigns to find deals. If your going to wholesale let me know, id like to get together for lunch, maybe work together as wholesaler/flipper team! Also check out wilmington house flippers on FB ! monthly meetings and some peope that have Alot of experience!  

I have received a property from my father VIA a quit claim deed. The mortgage is under his name, my dad has become terminally ill. Ive been paying the mortgage on the property and doing some renovations. My question is, if my dad should pass, will the bank call the loan in? I dont want to loose the house if my father passes, he was very happy to give it to me and I would like to keep it and over the next year do the reno and live in it.  I cant put the mortgage in my name at this time, due to lack of income. Ive just started flipping houses and am living off my savings currently while things get going? What are my options?  

thanks Jessie for your input. 

@jessie Gonzales the house at the moment is totally unlivable so it needs a complete rehab. How would I find out about the due on sale clause? And if it has this what does it mean for my quit claim deed?

I have a question about a house I've recently acquired. The house was given to me by my father, there is still a mortgage on it that I am paying. We've done a quick claim deed to secure my interest in the home. My question is, seeing I have the quick claim deed would I be eligible to get a rehab loan from a bank in my name, using the property as collateral? At this point I am unsure if I want to keep the house or sell it after its renovated. But I want to keep my options open that's why I don't want to use private or hard money lenders.Thanks for the help.