All Forum Posts by: Dan Sarao

If the original PSA is expired without a mutually signed extension betweeen you and the seller you probably have little recourse unless I am missing something. The PSA is always going to protect you in these situations as of course a dishonest buyer is always going to jump on a deal if there is nothing prohibiting them from doing so. Kind of crappy, but the contract is what would create any kind of recourse/ protection for you. The extension is what would continue to protect you once the original PSA dates expire. 

Where in S. Florida are you planning on doing this? 

I know this is an old thread, but I am experiencing the same thing. The 404 error when trying to log into my account started happening a few weeks ago, and it happens like 2-3 times a week.  Unfortunately, it also happens over the weekend when the support team isn't working. 

It is extremely frustrating not being able to get into the back end of a website in order to make additions or edits, especially when you are trying to do this as a business. 

I keep informing the support team of the issues, but it keeps happening. 

 Is anyone else experiencing this problem? Is this something that happens on Carrot? 

Interesting. I have actually had good luck with them. Maybe its because we do 5000-6000 at a time so its a bigger sample size. 

As @Brad Bellstedt stated, find a friend with MLS access that can generate a list for you. There are also list services for this information, but I cannot speak to the accuracy/quality of it.

Yes, make them a partner if you trust them or an employee/contractor. Best of luck!

@Ryan Evans - pleased to meet you. 

Wholesalers do get a bad rap, and there’s some truth to it. However, most of those who cause the bad rap are those who are inexperienced individuals who do not know what they are doing. It is also true that there are severaL bad, untruthful and untrustworthy realtors, property managers, buyers, sellers, etc. in every market. 

There are plenty of established, reputable firms in the area.  I find it hard to believe that you know all of them or that you have worked with all of them. 

Posting something on Facebook you should expect to get blasted by people who probably don’t even read your post in full.

Wholesalers do a tough job. It’s not easy to get off market leads. It takes a lot of effort, time and for most firms marketing dollars. 

If they are worth their salt they should do as much information gathering as they can and provide what they have to potential buyers. With that being said, like with any sale it is always the buyers responsibility to due their own due dilligence. Don't believe what anyone tells you without confirming, whether it's a wholesaler, realtor, FSBO, etc. That's just asking for trouble.

The only thing I can suggest is if you don’t trust them or are not comfortable in your due dilligence abilities just don’t buy from them.

44120 encompasses many neighborhoods and multiple cities. Is it in 44120 Shaker Heights (not to be confused with Buckeye Shaker either which is worse than Mt. Pleasant) or 44120 Mt. Pleasant?

Duplexes in 44120 Mt. Pleasant are not selling for that amount. If you are using Zillow they are most definitely pulling in Shaker comps, which makes it not accurate if you are in Mt. Pleasant.  If it’s Shaker maybe that price is accurate, but you have to deal with the shaker POS process, which is probably the most difficult in the area. From the $5k price tag I aM going to guess the property is not in Shaker Heights. 

To answer your question you can sell a condemned house, but the questions are whether it’s worth it economically given the extra hassles, especially if it’s in shaker heights due to the pos process and if it’s in the MT. pleasant area then it’s just not worth it unless the required fixes are easy and cheap and you price it right. You would really have to do as much research as possible before marketing it. I can’t see many cash buyers wanting to do the extra legwork unless they are making one hell of a return on it. 

@Sidney Watkins - $5k at face value seems like it is a good deal BUT you have to do the economics on it. What are the SOW and cost to fix the violations, what is the delinquent tax amount and what is the ARV on the property? The economics have to make sense first thing and more important than anything else. No one is going to buy a contract that puts them in the negative.

Please keep in mind That there have been plenty of young entrepreneurs that have succeeded in business and plenty of old entrepreneurs that have failed. 

I honestly believe it comes down to the traits of the specific person and there ability AND commitment to make things happen.  

The argument that young entrepreneurs have no money is not valid, in my opinion. If the opportunity, whether a property, project or business is good enough then the money can be found. With that being said the person has to have the ability to gain it through networking and social skills. 

Before the money even comes into play the person has to create/find the opportunity.  Then they have to find the money, and after the money is in place the person needs to remain dedicated and perform. Any person, regardless of age, gender, race, sexual orientation has to succeed in these things.  

In turn, I think it’s about the person and their traits and skills vs. any demographic factor.