All Forum Posts by: Bryan Igboke

@Bandhu Ji that's actually exactly what I did. I was able to get the seller $10k lower and factored it into my numbers. Your information on buyer's not being scared of this is great for me, since I've never wholesaled with a tenant still in the property. Thank you!

Hey guys,

I'm currently in the process of wholesaling an on market property (I reached out to their agent and got them to accept my offer) and the deal is great on paper. The big downside is that the tenants are still in the property and the agent says they will take roughly $10,000 to move out. 

Any tips on how to navigate this situation? Especially when it comes to talking to potential buyers. Has anyone ever dealt with this?

@Jesse LeBlanc okay sounds good. I'm currently looking in southern California. I'll be sure to do a little research on it and probably just call the title company and ask.

I knew it sounded a little too good to be completely true / feasible. Thank you for the quick response @Jesse LeBlanc

Hey BP,

I'm a little new to wholesaling and just start learning the ropes. My question is specifically about double closing.

I've been reading that when you double close the end buyer can cover closing costs from the first and second close if it is structured / closed correctly by a knowledgeable attorney title company or attorney, thus bypassing the need for transactional funds. Is this true? How common is this?

Thanks

@Brad Hammond @Andrew Kessler

I was definitely thinking about going with that higher security deposit. I'm paying for utilities as well so I think I'll put that price up. I'm doing their showing today so I'll get a feel for them and go with my gut like you guys suggested. 

Thank you for the response!

I am in the process of screening tenants to move into my home and I came across a unique situation. The possible tenant meets all of my standards, but wants to move in 6 adults (all are working and will of course fill out separate applications) into a 3 bed/1 bath, 876 sq ft home. This has no impact on me personally as I am househacking in a back unit and have it soundproofed. What potential problems do you think I may be overlooking? Are they deal breakers for you? If you did end up renting to them, what extra precautions would you take to protect yourself?

Thank you!

@Nathan Gesner

Definitely. Getting my own P.O. box seems to be the best and easiest approach. I'll look into that for sure. Thank you!

@Julie Hartman

That makes sense. I like this solution because it clears up all future mail problems as well as current. In the long run it is better for the tenants as well. Thank you for your input!

@Julie Hartman

That's an interesting idea. Do you know how her tenants react to having to do that instead? I feel that they may be unhappy about not being able to receive mail where they live, especially if they're old school.

I totally agree it's a privacy issue and you never know when one tenant will just decide to start taking another's mail.