All Forum Posts by: Chris T.

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

I am very new to the ways of E-Mail Marketing and would like to understand more about the services like iContact.

What do these services do and how do they work?

Hi,

I have bought and sold many homes, however, I focused strictly on Buying then Owner Financing them.
I have "Wholesaled" homes as well but I actually bought the properties then sold them for cash a couple days later.
I have never focused solely on "Wholesaling" - double closing, assignment of Contracts or Hard Money Lenders.
Since, I have experience already in REI, and finding good deals I think it would serve me well to utilize wholesaling techniques, especially when I find homes that need rehab and I don't want to "Owner Finance."

So, to reply to you, I won't contract any houses that I am not prepared to buy and rehab myself. It would be naive to go into business without being equipped with the tools that will protect me. Such as, a contingency clause, which is actually already on the promulgated TREC forms as a "subject to Third-Party financing" option.

Hey Ryan, can you send me the contract you use with a contingency and the assignment contract?

Do you think that mailers work best for finding motivated sellers? (letter or postcard?)

I'm finally getting started.........re-started!