All Forum Posts by: Barry Jerome

@Montrell Brown Hi Montrell Yes I own it free and clear. I lIve out of state. If I had a good contractor to rehab I could move forward with financing.

I own this house 4113 E Park Ave.  in Terre Haute.  Not living in the area I bought it in the county Tax Sale and fixed it up and rented it.  The tenant stopped paying and I had to evict.  Tenant took frustrations out on property about $10K worth of damage.  

I have $25K in it.  Redoing the bathroom, hot water heater, furnace and plumbing.  Realtor.com has it estimated at $70K.  I am looking to partner with a contractor or someone who could another $20K or so worth of work into it and after we recoup our investment split the profit according to the percentage spent by each partner.  My number is 347 475 7779.

Hi Andrew sorry for the late reply.  

No it is not.

Any one interested in the details on 100 acres ready to develop a 200-300 lot subdivision? It is 25 minutes south of downtown Fort Worth, just off the new Chisholm Trail Parkway at Cleburne TX. New minor league baseball stadium almost finished. New retail to follow.

Hi All,

Just was wondering if you had any thoughts on this problem/solution.

If I buy this business/property I plan on flipping it.  To do so it will take lots of advertising and some time. We want to keep the business vibrant and employees motivated until it changes hands. 

The seller is worried that his employees will see the property for sale and walk out before he is ready.

What ideas are there out there to let the employees know what is coming but incentivise them the stay until the transaction is close to closing?

Thanks Charles!

What Steven says makes sense.

It seem to me, you tell the farmer you have a buyer and he the farmer has (however many days your lease states) to put escrow down and go to contract on a price to close on the land.  Otherwise you are going to contract to sell to your new potential buyer.

Hi all, 

Got a newbie problem/questions.  

• Problem

         Buyer is offering 50K buy our condo in Palm Beach Fl., which we are asking $55K. And his                   offer is contingent on him selling his $150K house, which he has not put on the market yet and           that could take 60-90 days. This is a problem because we could miss out on other offers but             at the same time don’t want to lose this buyer.

• What problems do you all see with?
• Solution 1
• We go to contract in 2 days for his offer of $50K & $5K down in escrow but we must close 21 days from contract date.
• How: Buyer could get Equity LOC on his house or some other loan.
• What problems do you all see with?

           Solution 2

We go to contract for $52.5K with $5K down with a clause saying we can keep our condo on the market while we are waiting for your house to sell. If we get an offer of 8% ($57K) or greater we give him (the first buyer) the right of first refusal. He has 2 days to decide either to take his escrow back and walk from the deal or buyer lock in his escrow in with 15 days to close.

• What other ideas would you all have?

Hi Wayne, 

I forgot to ask, 

What is the best way or ways to verify a person's POF?

Thanks

Good point  Javi.