All Forum Posts by: Barima Opong-Owusu

I'm not very familiar with subject-to deals. If I was looking to do this as a subject to deal and the owner wants money above what they owe but still below market value. Does that at all change the benefit of doing a subject-to. I need to read up more on subject-to before I feel comfortable speaking on this strategy. Thanks for the help

Miguel,
I would stay in school and finish up, especially since your on a full-ride. I recently got into real estate investing after completing my doctor of pharmacy residency. Although I do have a nice earning potential, the amount of money I spend each month paying pack loans really limits my ability to try to fund my own deals. Having the ability to have a nice earning potential without having to pay back any student loan debt will only help you more down the road.

Stay patient and learn as much as you can and try to do what deals you can on the side.

Are there any sound companies that you can pay for probate lists. I already use a few for absentee owners and tax liens, but I haven't found 1 for probate yet.

I've wholesaling for a few months now with my first deal under my belt. I've been looking to do some lease options and from my marketing I have a very motivated seller. We haven't discussed the terms of a lease option yet, but she appears to be very open to doing an option. She moved out of the home 8 years ago and has been renting it out because she couldn't sell it. They have $56K remaining on the property mortgage. The home is in a good area of MI and and from how she described it is in good condition and was been well maintained. The dilemma is that it is currently tenanted to an elderly couple, they are not under lease and she said they are good tenants who would love to stay in the property even if it's sold.

My dilemma is how to I go about getting this deal done. Given the tenants are elderly I doubt they would be interested in paying an option fee or taking on a new mortgage down the road. I also don't think the sellers would be willing to sell low enough to complete a regular wholesale. Any ideas or suggestions on how to make this work?

Mike V. Thanks that helps alot

Does anyone know if it is possible to go to the courthouse to get a list of current probate cases and search for the ones that have property then find out the names. It sounds like a long process to go with names then find which ones have property.

To those of you who do the direct mail marketing (yellow letters) at home. Do you use standard yellow pads and cut the paper out? or do you order lined yellow paper. I've been looking for somewhere I can order the lined yellow paper from so that it has a higher paper weight and wont jam in the printer. Any ideas?

Hi I have situation where I have a property under contract with a standard assignable purchase agreement for a set price. The property has gained interest from several buyers, but a few are interested in buying the property on a land contract. Is it possible to still assign the property with the land contract as long as the purchase price for the land contract exceeds the original agreement with the seller? Do I need a new purchase agreement with the original seller detailing terms of a land contract or can I still move forward with the original agreement?

Thanks Nathan,
I won't be able to get the property under contract until the divorce is finalized because although its his. It's under his wife's name and she currently lives there. He assured me it will be his again but not she is tying it up until the settlement. So I guess I'm just gonna have to wait until eveything is finalized before being able to move forward. Thanks for the sound advice.

Hi I'm a new wholesaler working on a deal where the property has an ARV of $100K and I discussed with the owner getting the property at $45K. This leaves a lot of room for my spread and repairs because the property is in good shape. The drawback is that the seller is going through a divorce settlement and legally can't sell the property until things are finalized in November.
I would like to start marketing the property to my buyers list so that when I can get it under contract things proceed quickly. Would it be best to wait until I have it for sure before I start marketing or can I start to get the word out so that's don't have it under contact for a while? If you do think I should market to my buyers, what would be the best way to go about it discretely since its not under contract?