All Forum Posts by: Malik Gray

@William Goodman

like Joseph said there is a tremendous amount of contract floating around. If you haven't gotten a an attorney yet then best to get 1 asap. Seek an attorney that is familiar with wholesale contract and representation. 2ndly, share your contract with him and make sure that language/verbage is safe for you contractual and obligational wise. Also you want to make sure that contract doesn't violate any laws from your particular state.

Once you have the green light from your attorney I would sign with any seller at the right price and what the safeguards in place just in case you can't find a buyer in time or at all.

I would then market the deal if you dont have any available buyers. Most investors know and understand the process but not all sellers . Some sellers would be totally against the fact of you making a profit after you negotiate then down on a price. On the other some sellers would not care what you do as long as you can pay the agreed amount by the speciified date. You should know what kind of seller you have on your hands from your interactions.

Ultimately its up you to establish your wholesale model to be 100 transparent with buyers and sellers,

There are arguments of how each 1 of the best option....

Hope I was able to help... Good luck with your endeavors.

@David Boatman Bravo!!

I think you have proven to yourself that would do what’s necessary for the next level of advancements .

It’s taken you a life time to acquire that Porsche but because the world has changed drastically within months , and you made real time adjustment in your personal life to keep pace with the changing times .

One of those adjustment was giving up your dream car to be in a power position in the near future . I think it shows great discipline and determination.

I think you would love yourself more 2 years from now and there will always be other Porsches to acquire .I felt the need to chime in because that happens to be my dream car as well, I’ve been waiting only 30 years ,however ; I’m sure I would have made the same decision.

Yes , it’s one of those areas that NJ attorneys are staying away from. Maybe there are just more avenues to pursue as attorney here that’s more lucrative. If you can look at the date of that posting and as you can see no one replied. Or at least no one is sharing any info.

No luck yet. Sorry, I think if you explain what you are trying to achieve to a real estate attorney then maybe it will turn on some lights for them . I had an attorney that Was exploring the path with but he suddenly disappeared..lol . Good luck 

@Ray Reed Having heart and being very considerate is also a bad habit for myself as well. I would try to balance this dilemma before I rein down with the ax.

Only because I could see her situation being very limited . Keep In mind about the other tenants when or if they try to come after you because of your prejudices for her .I would seek other programs that can assist.Even reach out to her family , with all of the social apps including “go fund me “pages I Would state her cause and even ask for donations. I’m not sure if you the landlord can legally set that up

So for your own protection she would get the the same rental increase but I would only enforce what she is accustomed to paying. I would structure the lease so that the other entities would be responsible for the balance like a relative or rental assistive organization. Therefore you can never be blamed for not taking action against her if the full balance isn’t reached . Whatever extra you get use it towards rent everything short of the full rent gets written off. 6k a year is huge loss but on the other hand at least you know that her $800 will be consistent. I would keep and her and try to find some additional assistance .

@Sean Guzman Well just know that real estate is a marathon and not sprint. Giving that it’s a life of learning so don’t feel bad things you don’t know yet.

Take your time every market is different and north jersey has many markets . Try Nick Tangs group very informative and NJRSN both are on NJ Meet UPS..

Also Steve Salaami groups for networking.Good luck Chuck!!

@Anthony LaBattaglia

Welcome to BP there is a lot of content here to learn about juts everything real estate related . I am an investor wholesaler if there any way I can help you send me a DM . Good luck and may the force be with you .

@Michael Ealy

Congratulations . 1 question what was the original name price before the wholesaler got the reduction?

@Ethan Smith

They say that the true formula for scale is to do what ever you’ve done successfully and repeat it. What ever methods it took for you to get that 1st Million in cash I would continue down that path and perfect it as you do so.. I just hope it didn’t involve drugs, human trafficking or secret meetings with Putin.🤣

@Gustavo Deleon

Being a wholesaler myself I don’t think it’s a bad idea

To buy from a wholesaler. We all know that wholesale only means discounted property. The question would be , how much of the discount would you be getting?

Do your do diligence of course . I am in the Northern New Jersey Market. 50k would help with your percentage of purchasing costs with a hard money lender and maybe some of the monthly fees. Do your homework on the Market and be sure to get qualified contractors before you begin. Newark, East Orange , and Irvington are all great market but require different strategies. Hudson County is very tight and expensive. Some sections of Bergen County single families are hard to sell is what I heard from a realtor there. Again do your Market research .