All Forum Posts by: Charles J Price

@Christopher Cousin I’m interested.

I’m unsure how I move forward in the space. I have a property, not yet under contract, that’s part of a restructuring plan. Due to the owner, who’s the broker, filing Chapter 11 bankruptcy. He has a hearing early June and if I work with him on the property he wants me to close in 30 days, the date of his hearing.  

First! In order to get the house under contract he wants me to give him a $2,000 nonrefundable deposit,commit to paying the remainder of the balance owed for the property, regardless of reassigning Of the property. I’m not sure legally how that’ll work since I only have a standard purchase and sales agreement for him to sign.

My concern is outside the aforementioned is possibly passing on liability to the new owners. Should this be my concern, do I need a title policy, do this sound strange too you, regarding the commitment to the property, how should I move forward?

I appreciate the encouragement, once I close a deal I'll feel allot more confident in the process. However, I'm still excited

This is going to be an interesting journey! 

Thank you sir, it's definitely a learning experience. I appreciate the feedback!

Sorry I made it so confusing. It seems like this isn't a move that's worth entertaining. 

An agent that wants to work with me found a deal thats already assigned. I was wondering if I could just connect the wholesaler to a buyer and make a commission or percentage there. 

I have a property that was brought to me by a realtor, but it's already assigned to the "sellers", that's asking 130k... With an ARV of 260k on the high end 240k on a more conservative end, needs about 40k of rehab, around 10k on electricity because it's an older home. I had a realtor that wants to work with run the comps. 240k @ 70% ARV and 50k in repairs put you at respectful 118k. That's without my wholesale fee associated. That's roughly 70k in profit.

If I align a buyer with the realtor that brought me the deal, should I get paid on the back in for doing so? I think it's a great deal, I'm just not sure how I can get the property assigned when it's already assigned. But if I connect them directly with a buyer, the deal could close. Is this something your willing to entertain? Why or why not? 

I'd just like my name somewhere in the contract that protect my interest but is that enough...🤔

I assume I would have had many deals in the pipeline, but the truth is I haven't even gotten a pipe yet (that was kind of funny to me, I'm a bit corny if you can't tell). I know deals will come shortly, I'm confident and focused. However, I sometimes feel like I'm overcomplicating the simplicity of inquiring, buying and selling. It's just this new industry and it's terminology can be a bit overwhelming, but I'm hoping Bigger Pockets and its family/members can help guide my steps. 

Question: Why did you choose Real Estate, why this industry?