All Forum Posts by: Blake Yarbrough

Thanks, that is good information to look for!

Hello,

Does anyone here know if it is possible in Washington State to buy a house for cash and then sell it immediately after without rehab for a profit? Is any seasoning required? (In other words, I am not assigning my contract in order to wholesale.) Thanks!

This is an old post, but in case you still need help I can answer your question. The property is purchased with the name of the land trust as the buyer. Every land trust has a trustee and a beneficiary. The trustee always stays the same and is the one who signs the documents, but the beneficiary is the one who receives whatever is being purchased, and pays for it. Basically, the trustee is the middle man. The seller and others involved don't ever have to meet the beneficiary, so the beneficiary can change all the time. The position as beneficiary is what is assigned for a fee. This is a very effective way to purchase properties because it makes the seller more comfortable... to the seller's viewpoint, he sold to a trust and even after the contract was assigned, the seller is still selling to the same trust. An interesting fact about purchasing properties through land trusts: Walt Disney purchased land for Disney Land through land trusts. No one knew who was really buying up the land, because if they did know it was Disney, they would have gouged the price and others would want in on the land, too. It's a good way to purchase in secret.

Hello,

A partner and I are going into a multi-family building together but need money for the 20% down payment. What is customary for this? Would that cash partner receive 50% and my other partner and I split the other 50%?

@Jaren Barnes Could you help give me access to messaging, please?

@Joshua Dorkin

I am banned from messaging and need access quickly. I was trying to add people to my network by sending colleague requests, but I guess I sent the same message to one person too many. I wasn't marketing through the colleague request. I have a deal that people are writing me about and can't respond! Help!  Thanks!