All Forum Posts by: Cameron Ellis

thanks @Jerry Padilla @Brianna Schmidt @Chris Clothier @Jeremiah B.

Chris I'll email you later this evening or tomorrow about the event.

How's it going guys, I wanted to reach out to expirenced investors who may be already in his field of offer turn key properties. I would like to learn more on the turn-key process:

• what is the actual term for turn-key?
• How are these properties marketed?
• Are these sold rented?
• What services are offered to a turn key buyer?
• What makes a good turn key company?

I would defiantly say read this, and understand you get what you pay for.

http://files.investmentpropertyincome.com/200000110-0ea7d0fa1f/EBook%20-%20Investing%20in%20the%20Sweet%20Spot.pdf

I typically lay it out on the contract, my plans are to sell, assign, lease, or rent the property for profit.

You can simply let her know your plans are to immediately resell the property to another investor, she can immediately get the 20k she signed the contract for and you profit by bringing a partner/ investor to the table.

also since parking lots don't have visible address, try finding the building closet to it and look for it on the GIS map. Their you can find the owner of the lot name and their address. I would send them direct mail just like anyone else

I haven't personally invested in one, although I've been looking for one in Downtown Memphis for a while. I've seen them sell for millions in he northeast and California, I know here in Memphis, a parking lot can bring in $500+ a weekend downtown. No one here is quick to sell unless you come with a nice chunk of change! But I'm still searching

guys I'm hoping to find out all I can about this subject any input would be great!

• What type of HUD homes can I wholesale?
• How long does HUD give you to close?
• Can I have my buyer wire the funds in before the HUD home is scheduled to close?
• Can I back out if my buyers back out?
• Can I assign my contract with HUD or is it strictly DOUBLE CLOSINGS

@Corey Davis

I fund all rehab and closing cost, and 10% of the down payment if we buy it on a mortgage. By legwork I mean signing documents, going to look at properties, managing the rehab, and property management.

Also yes, we are both partners in the entity.

I'm actually getting ready to get involved with something similar. What our attorney did was create cooperation agreement, outlaying my partner would purchase the property and I would fund the rehab and closing cost. And when the property is sold I was to get my rehab cost back before any of the profits were divided. also, we are to spilt any profits 60/40 me getting 40%. That is because my partner is in china so I have to handle the legwork here.

I've been hearing this on the sean terry podcast, but has anyone accomplished it on biggerpockets? If so, can you explain a little of the process, and what happens if your end buyer can't close on the date you close with HUD? Also how long does HUD give you to close, and can I pick the closing agency?