All Forum Posts by: Donald Taite

Thanks Curt.. I appreciate that info..I will definitely use that because I'm suppose to look at the property this week. Let me ask you this,I was thinking about getting an estimate on the mold remediation at the same time I go look at the property, do you think that's a good idea or should I do that separate?

I see a property that I would like to wholesale to an investor..but here is the catch..I have no funds to buy the property. I have heard all the stories about how you can buy properties with no money or no credit.Well..if that's true..what do you have to do? Based on all the info I have gathered this property would be a good deal. People always say get the house under contract but I feel real stupid trying to put a house under contract when I don't even have the money to buy it,which I'm sure they are going to want.I guess im getting a little frustrated because this property is a foreclosure for $175,000 and the comps are selling around $300,000..and thee county has the property assessed at & $270,000. The home does mold remediation and new hardwood flooring and new carpet..the kitchen def needs updating. But if you are trying to wholesale thee property why would you be worried about rehab cost and ARV? Please someone give me some guidance.

That's exactly what I would like to know too,because I'm a newbie myself. But I have heard a lot of people say that you need to have the funds before you put it under contract. I'm having a problem now becaus I see a property in my market that I think would be a good deal but I don't have the funds to obtain and I don't want it to get away.

thanks for the info Paul.

No I do not Henry. I did run the info by a real estate agent friend of mine and he sd the rehab would run around $50,000 but that's just a guess..and I welcome real answers..that's what I'm looking for.

I have a very specific question.if I see a property online that I think would be a good deal,how do I get aquire the property. I'm a newbie so I need answers. Let me just give you an example of what I'm talking about. I see a foreclosed home for sale at $175,000, I would like to purchase this home and wholesale it to an investor who would like to rehab it. I would like to do it myself but I'm trying not to bite off more than I can chew. The home does have some mold issues and needs new hardwood flooring judging from the pics I have seen. But the crazy thing is the comps are selling for at least $300,000. I want to make this my first deal,but I have no funds to buy the property or no one to flip it to because I have no buyers list.