All Forum Posts by: Dell Schlabach

@Christopher Alley we use a lot of private money in the rehab business, and I have never paid any up front fees. 

I suggest you enter private money goldmine in search botton at top right of the screen and read the previous posts....here is one that gives good perspective as well as a link to legitimate private lenders.

http://www.biggerpockets.com/forums/92/topics/1488...

I love to buy and rehab them, especially the four level splits... after rehabbing them I can typically get as much or more than others are selling a ranch for in the neighborhood.

http://m.realtor.com/#details?property_id=44289859...

here is one that sold for more than the ranch a few doors down, mine is couple hundred sq ft smaller 

http://www.zillow.com/homedetails/2230-Tamarack-Ci...

Couple more examples of Kitchen Kompact Bretwood Maple cabinets, from recent rehab projects. We use Bretwood Maple in 90% of our projects. The first one is a small bungalow, 110,000, we used FX High Def Golden Mascarello counter tops in stock at Menards. 

Another kitchen with Uba Tuba granite. Lighting is a bit off, walls are not yellow :-)  here but gives you a pretty good idea of a dark counter top. 

Kitchen Kompact are not in-stock item at local Menards. In this area most suppliers can have then within two to three days, including Lowes and Homedepot, special order.

@Joel A. 

@Robert Laird 

I've wondered the samet thing and never asked, followed a couple people then quit.

@Marvin S.  We are not ignoring the second sentence, it clearly states the Seller MAY assign at ITS sole discretion, WITHOUT PRIOR NOTICE OR CONSENT OF THE PURCHASER. 

DO you interpet that to mean, the bank is likely to let YOU assign the contract and profit. Not in the real world. 

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The purchaser shall not assign this Agreement without the express written consent of the Seller.

The Seller may assign this Agreement at its sole discretion without prior notice to, or consent of, the Purchaser."

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I like foundation issues now that I have found a reputable foundation company that will provide a lifetime warranty on their work.  We have done seven or eight houses in the last three years, most are in the 125,000-200,000 range. We have not had any problems selling them. 

One we bought last year, major foundation issues, two sidewalls in the garage had to be totally replaced, front and rear walls were strapped with Fortress Stabilization System, cost me 14,000. Lifetime Warranty, transferable to buyer. 

Put it on the market Friday two weeks ago 299,000, 14 showings had offer within 10days.  Nobody complained about the foundation fixes. Here are a couple pictures

Having wholesaled many bank owned houses, I'll just reiterate what @Wayne Brooks and @Mark Ferguson are saying. 

It is very difficult to make any changes to the contract after initial acceptance of offer, although last week I was able to get bank to agree to add another party to the deed, before addendums were signed. After addendums are signed, making any changes have been impossible for me, with bank owned.

However as previously stated, all the banks in my experience will let the buyer choose the title company, but buyer pays his own title insurance and fees as others have mentioned. 

Bank owned properties that we are planning on wholesaling we now use our own title company, and pay the extra fees. Our Title co will do the title search, not charge title fees on the first transaction, only charge title insurance/fees to our buyer saves a little money, and our buyer pays the fees.

I see you are new to the forum, Welcome to BP. 

The forums are for educational purposes and not for buying selling or soliciting funds, the moderators will likely delete this thread. 

There is a separate  marketplace link right beside the forums for the purpose of buying selling soliciting. 

Also there is a search function top right, If you type in private money you should find a number of links on raising private money that you might find useful. 

Ohio its typically 15days, double checked Homepath website, all states except nevada, first look owner occupancy only, periods are typically 15 days, nevada 30 days. 

@Michael Noto undefined

@Octavio Goncalves