All Forum Posts by: Account Closed

Hi everyone very close to closing my 1st deal! YAY!!!!! :cool: I have a home under contract & now the end buyer is willing to put
down some earnest money to secure his interest in the property. Who is the cashier's check or money order made out to???? This is where I'm stuck & I told him that I'll get back to him asap & any info would be HIGHLY....I mean HIGHLY appreciated.

Yes indeed it involves mostly land.
The argument he was making to sell
the course was that they're already in
jeapordy of losing the property due to
taxes & not walking away with
anything. You (the investor) offers
them a token amount for the deed.
Something is better than nothing imo.

In reality, has this been done. Buying
for a token amount then collecting the
overbid from the county?

I figured that, but what about going after
the ones that are owned free & clear? No mortgage. They made it sound so simple.

1.) Filter the list down to what you want

2.) Send out a letter & if the the distressed property owner calls you offer them pennies on the dollar,

3.) If they accept your offer record the deed with the county.

4.) Do the title work to make sure there are no liens.

5.) Put it on back on the market for a bargain price with the amount of taxes included. Or let it go up for auction hoping it sells for much more than what is owed in back.

I'm really fighting & holding on hoping this is the legit way of handling it.

There is a system out there being sold stating that you can contact property owners who are delinquent before it goes up for the tax sale possibly buying the property for a token amount, assuming the taxes, recording the deed, & then turning around flipping it for a quick profit NEVER actually paying the taxes but rolling them into the price where it's still a bargain.

Or buying the tax deed for pennies basically, recording the deed, then letting it go up for auction. For whatever it sold for over the owed amount of the taxes is owed to YOU by the county.

Hmmm... This sounds too good. Is this for real??????

thanks Jason! That makes alot of sense! Just wanted to be sure though.

Hey everybody! I'm already familiar with the steps to go through to
get a single property under contract, but how do I go about getting
3 homes under contract as a packaged deal? How? Do I use the same
Purchase & Sales Agreement like I've been doing, but adding all the
properties on the same contract or use 3 seperate contracts?

thanks wheatie. I havn't physically been out to look at the property
yet but got word it's been sitting up awhile & the landscaping is
horrible..but I'm sure it's much more. So the bank not allowing me
to assign the contract kills the deal as far as trying to wholesale it???

Is it dead already?

How? I'm a newbie just learning but I have a situation where is
appraised for $140k & they are asking 66k. It's about 30yrs old & has
been vacant for well over a year, but the bank owns it. I would just
love to flip the contract to an end buyer.

Damien

Lou,

could we all that's starting out use this exact contract that you attached?
Or does different states vary?

Hi & thank you for the encouragement! I actually have an S-Corp (Inc)
& I put all my trade references onto my D&B credit profile. My cell
phone company, jewelry store credit account, etc.... Yes I'm also
rehabbing my personal credit as well in the meatime. Yeah I'm just
taking my time learning how to wholesale rehab projects & knowing how
to negotiate a deal & when to walk away. My goal is 2 deals a month!