All Forum Posts by: Cameron Ellis

Would love to be apart of this..

I would defiantly go with laminate, I purchased some for my home from a lady on Craigslist, and it looks really good. Just be sure not to use it in the kitchen. Water+Laminate don't mix..

I have a couple friends where I am maximizing on wholesaling.. I am actually looking into myself, as long as their are no loop holes in your contracts you should be fine. I am in Memphis, Tn by the way

How's it going Bp, I've ran a Duplex for $3500, it has some fire damage on one side of the unit. I was considering using my line of credit to purchase, and a construction loan to remodel(Considering I would live in one side, and have the tenant pay for the loan without any money out of my pocket). I figure I will pay the loans off in 1yr, It is valued on zillow for 37k, and may only need 6-8k worth of work. Should I purchase this with the strategy I came up with, or would it be better for me to wholesale this deal.. This property is located in Memphis TN nearby the Liberty Bowl..

Any input is greatly appreciated, and this idea of financing is just a sketch.

BP, I'm running across very good deals in the Memphis/West memphis area on SF rentals. I have investors that have been in real estate for 35+ years plus, they are looking to sell a couple properties to pay their taxes on their other properties. I would defiantly like to wholesale these deals.. They are in prime locations, close by good schools, need very to little rehab, and are rented out nearly 90% of the year. Only problem is I have the slightest idea on wholesaling.. I read about these deals but don't understand the legal paperwork needed.

Thanks everyone for the advice, I've been looking into the idea of getting a duplex as an owner occupant while renting te other side out lately. And you guys have convinced me that's the path I should take.

How's it going BP?
Im having trouble finding anyone that will finance me, I'm a 19yr old college student, fair credit 650+, 3yrs on my current job, never missed a payment on any of my credit lines, paid my first vehicle(14k) off a year early. Looks really good on paper, but the banks wont touch me basically because they don't want to finance under 40k. My purchase range is 10-30k in the Memphis Area. BP, what is the best option for me?

My ears are open to any helpful insight, and suggestions.

Thanks, C.Ellis

Hi BP family,

My name is Cameron a 19yr old newbie investor out of Memphis,TN. I've started my real estate journey not to long ago basically starting out as an Wholesaler with a goal of buying and holding multifamily properties down the road. My forum today is to get a better understanding of how to get a home under contract after the seller accepts my offer and also a contract to assign over to the buyer for my fee. How can I protect myself from any lawsuits or from the buyer going directly to the seller?

Also if i can find a buyer with 30days will I have to purchase the property myself if I have signed a contract or can the contract legal lapse after those days..

Thank you for you time, any and all help is greatly appreciated