All Forum Posts by: Denise James

I ask a lot of questions. I thank everyone for all the help. I’m still learning.

I have a client who wants to sell a rental property. There are tenants living in the property for the last 5 years.

House ARV: 83k

Client asking 68-75k

Renting for $700

I was wondering if rental properties usually sell for more than a regular fix and flip since there are tenants already living in them. What else should I know about rental properties. I’ve already asked for a copy of the lease. Tenants pay on time every time. 

Also do I factor in cost for rehab? 

I need to get contractors in the house to get a estimate on possible repairs and the seller is not being very easy to work with getting access to the property. What are my options. Seller is convinced that since he’s selling the house below tax assessment there should be no reason to go into the property before closing date on December 18. 

What to do? 

Came across a property owner who wants to sell a rental property.

Tenants just moved out 1-2 weeks ago. Tax assessment is 62k. He wants about 48k for it. Firm

If you came across this deal would you go ahead with the contract or let it go?

I have cash buyers lined up, but I am only a newbie so my list isn’t too extensive yet. I have only been dealing in distressed properties, however this property is in great shape so I’m just second guessing if my numbers are correct and if there will be any money left on the table to work with.

Thanks in advance 

Homeowner wants to sell but the auction is in 2 days. 

A lot of investors in my area use the bankruptcy method to stop the auction and have more time to close the deal. 

I’ve never used this method. I usually send a copy of the contract to the lender and that always buys me enough time to close on the deal. 

However, if the homeowner files the chapter 13, do they have to go through the entire process a month later ? Or could they just dismiss it?

Would this be on the credit report of the homeowner if they only FILE the chapter 13 just to get more time to sell the house. 

Again, I’m not using this method, but I’m interested how this process works. 

Thanks in advance 

If I had the funds to close myself I would. However I don’t. I’m just starting so my funds are limited and I hate to pass up on this deal 

Recently came across a deal for a property for 25k. The house is worth at least 85k. Found the deal on Craigslist but the ad said specifically NO WHOLESALERS. 

So what?! I called anyway and got the contract for 15k. Haven’t signed yet until inspection of property in a few days. 

I have responded to ads before from tbis particular wholesaler and he made it clear he doesn’t want to deal with other wholesalers in any way, shape or form. 

First of all, is this possible? I’ve never done this before but there’s money left on the table. Can I wholesale another wholesalers deal. In my experience it seems possible. Just sign a purchase agreement with the end cash buyer to fund all deals. I get the contract from the wholesaler and I will sign a purchase agreement with end buyer. Is that correct or am I missing something.

** jv is not an option. He’s stubborn and won’t budge