All Forum Posts by: Bella Batal

Thank you Mike, appreciate your feedback, that was very helpful

Hi BP fam, 

As one dabs into a few strategies in real estate to see which one is most suitable/successful, does one have to introduce themselves as a wholesaler when:

cold calling/emailing investors, does one have to introduce themselves as wholesalers?

 Also, Does wholesaling only refer to distressed properties? Or can it be turn key?

Thank you

Thank you so much Mathew, this is very very helpful. 

I appreciate the time you put into this. 

Yes, I', beginning to see it's a tough one. 

Thank you Mike. 

Are you able to share ideas of how to structure this deal to make it work?

BP fam, 

Can you help me understand if this deal makes sense?

The Seller is happy to do creative finance, but is requesting a big amount of cash upfront to go towards loans. 

All buyers that have responded with interest have said they can't bring in that kind of cash, but are happy to sub to. 

The buyer is not too convinced, as they are moving out of state, and don't want their name tied to any debt. 

The cash upfront comprises of the debt the seller owes to the bank ($690k) + debt owed to PML for renovations ($410k) = $1.1 million 

With that said, they're willing to do Seller Carry back with a 5 year balloon. 

Here are the details:

A 3 bd, 4 ba, 3,877 sqft renovated property. 

Bought in 2021, at an interest rate of 3.25%.

Total loans: (Mortgage < $690k + renovation from PML @ $410k) = $1,100,000

These Sellers payment terms are:

• Sale Price; $1,800,000
• 1st lien mortgage note $1,100,000
• $360,000 in closing funds from buyer
• 2nd lien Seller Carry Note $340,000 maximum, @ 2% with monthly payments based on 30-year amortization with a balloon after 5 years.
• The property is off market, and they plan to list it by end of the month. But in their market, if a property is over $1 million and does not sell before halloween, they have to wait till after Super bowl. So my efforts is to help them sell now through creative financing but have not been able to either: 
• - Find a buyer that can bring in a great amount of cash upfront 
• OR
• - get the Seller to agree to accept to divide his loans; the reno loans paid off, but the mortgage to continue to be paid for the length of it's term. 
• How can I make this deal work? Am I targeting the wrong pool of buyers? 
• How can I comfort the Seller's concern if the bank debt is delayed/defaulted by the buyer, what are the risks/consequences? 
• Thank you BP fam

Hello, 

A MOTIVATED SELLER, interested in creative financing his Property; A beautifully renovated 3 bd, 4 ba, 3,877 sqft in Boulder, Co. 

It is perfect for Short/Mid-term rental. It is also a great place for one family to live in, or even a few young professionals.

A couple lived in the main house, and rented the bottom unit for $2000+ utilities, it's got a separate entrance. 

Property was bought in 2021, at an interest rate of 3.25%. 

There is mortgage left and some renovation/reconstruction costs that need to be recouped.

These are their payment terms: 

• Sale Price; $1,800,000 
• Cash required at closing - $1,460,000:
• Broken down to:
• • - 1st lien mortgage note - $1,100,000 (includes the mortgage and renovation loans)
  • - $360,000 in missing fundings to be brought in by Buyer to cover (escrow, title, wholesaler fees.. etc)
  • 2nd lien Seller Carry Note - $340,000 maximum, @ 2% with monthly payments based on 30-year amo with a balloon after 5 years.
  • Message me to see photos/videos of the property. 
  • Thank you
  • Bella

Thank you Mike so much for this info. 

This is all very new to me, and some things may be a bit confusing still which is why I am doing further research, I very much appreciate your feedback. 

Hello PB fam, 

I have been helping a distressed friend find a buyer for their property, it's been renovated and is move in ready. 

We are getting close to choosing a buyer that is able to met their terms (this is a creative finance deal/paying loan and doing seller financing).

My question is:

- My role here is a wholesaler, correct?

- Who pays my fees? The Seller in this case, correct?

- How do I structure the fees?

- What type of contracts do I need?

- Do I need to put earnest money to buy the contract of the property, and THEN get the assignment fee paid by the buyer in this case?

- Can I use the title company who's handling this deal to make those contracts available to me and facilitate the payment to me?

- Does it matter if the deal is in a different state to my state of residency?

Thank you,

Hi Steven,  lets connect.