All Forum Posts by: Bradley White

I'm talking to a motivated seller of a 22 Unit apartment complex. I know that if you're making a cash offer in the LOI, you have to explain how it's going to be financed. As the wholesaler who's not going to be buying the property, does this mean that I have to already have an end buyer lined up who knows how they will be financing the deal?

Does anyone have a NCND agreement form?

@K.

@Account Closed undefined

Thanks for all your advice. I really appreciate it! Just curious, why wouldn't I be able to assign it if my buyer is using a conventional lender? And if they are using a conventional lender, what adjustments would I need to make to get the deal done?

@Account Closed

Yes the buyer knows what the purchase price is ($173,000 OBO), but he doesn't know the contract price. Should I request that they make an offer and meet in person with earnest money before showing the contract?

I have a property under contract that I'm looking to assign. A potential end buyer who I've never worked with or met before says that they want to see the contract. Should I show them the contract or no? Is there a reason behind this?

@Joel Owens How much earnest money would be the standard to put up for this type of deal?

@K.

@Account Closed undefined

Thanks for your reply! This is what the seller said:

"It is good that you drove by the property. I can work on a T-12 or a Pro-Forma package over the weekend. I think a Pro-Forma package would be more helpful. It would show your financial impact of a purchase more clearly. However, it would require that I know the approach your funding partners would take for a purchase."

How would we know the funding approach of our "partners" (end buyers) if we haven't received the rental rolls and P&L to verify the numbers?

@Wayne Brooks

@K. Marie Poe

Thanks for your reply! This is what the seller said:

"It is good that you drove by the property. I can work on a T-12 or a Pro-Forma package over the weekend. I think a Pro-Forma package would be more helpful. It would show your financial impact of a purchase more clearly. However, it would require that I know the approach your funding partners would take for a purchase."

How would we know the funding approach of our "partners" (end buyers) if we haven't received the rental rolls and P&L to verify the numbers?

How do we give the seller the buyers loan guarantee when it's going to be us who put it under contract? (Dealing with a 22 Unit apartment)

Is there a standard purchase agreement for multi-unit apartments, larger than 5 units?