All Forum Posts by: Chris T.

Maybe this is easier; to find out how much I should pay for this house:
65% X ARV = Cost
Cost - Repairs = Purchase Price
.65 X 107,000 = 69,550
69,550 - 15,000 = 54,550

So then 70% of $107,000 is $74,900
Minus $15,000 in repairs is $59,900
Then that puts me at 56% right?

Sorry, I started out the post as a 65% of ARV but then changed it to 70% of ARV.
I'll edit that post.

What type of data can you get from the title company and why do you get it? How do you use the data?

I want to buy at 70% of ARV with hard money and wholesale it.

REO Property
ARV is $107,000
Purchase Price is $65,000
$15,000 in repairs
ARV - repairs = purchase price
That is 71% of ARV
and 29% Equity

What else do I need to consider?

I am in the start-up period and I want to Wholesale, but I have a lot of experience with Owner Financing. I will be using a Hard Money Lender. Should I just focus on one technique at first or should I TRY to be open to all opportunities?

Can anyone recommend a good note servicing company in Texas like the one Jay is talking about?

Also, what is a good formula to use when buying a property to Owner Finance using a Hard Money Lender.

ie...65% of ARV - Purchase Price - Repairs

When do you perform a title search for a wholesale property?
First, I put a contract on the house from the seller.
Then, I assign the contract or double close with another investor.

Where in this process do I do the title search? Surely, I or another investor would not want a contract on a property that doesn't have a clear title.

Wow, if that would have been a snake it'd bit me!

I was thinking about forwarding the calls from the Cell Phone to the VOIP.

Thanks for pointing me in the right direction!

lol