All Forum Posts by: Donte Rome

i researched that its doable and it depends on the VA credit or entitlement they have to determine what they would get approved for to purchase another home.

1 Vote

I think this is the right forum for this question.

If anyone in this group has experience with forming long term partnerships with other wholesalers that you get into business with via an llc please reach out to me. Could use some guidance on how to divide the business, taxes, and payouts. I will be seeing my cpa but just wanted someone with personal experience to chat with too.

1 Vote

Quote from @Alicia Arizpe:

Quote from @Donte Rome:

talk to and vet them before you do deals. at least have 2 that are wholesale friendly. My contract requires me list the title company the transaction is taking place so I let the seller see this before they sign.

Okay definitely will start looking for them. As a wholesaler, how would I "vet" them?

I ask them questions like.

are they investor friendly and what percent of their business is done with investors?

how fast can they close?

do you do double closes?

can i get a copy of your closing fees?

do you do assignment of contracts?

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2 Votes

We are close to the finish line on one but we have one issue I could use some advice on.

Wholesaling a deal. Seller has tenants. Not on a lease. Been there for 6 years. Buyers wants the prop vacant preferably.

Other than cash for keys, not too sure what my options are. what other things should i watch out for? Any legalities in regards to tenant rights when there's no lease? I feel like that is harder if i remember correctly.

0 Votes

Quote from @Bob Stevens:

Quote from @Donte Rome:

a couple diff potential buyers for a property im dispoing asked me if its a tax deed? Are they asking if I acquired the rights to it from a tax deed sell?

How are we to know what you purchased and how do you not know ??? HMMMM

good question. im new to rei and was planning relying on the title company to supply this answer but i wanted to make sure it was referring to anything else because ppl frame the question oddly to me lol. the others answered it for me but ty for responding @Bob Stevens.

0 Votes

Quote from @Chris Seveney:

Quote from @Donte Rome:

a couple diff potential buyers for a property im dispoing asked me if its a tax deed? Are they asking if I acquired the rights to it from a tax deed sell?

Yes, they are asking if you bought it at a tax deed sale, typically this is asked because it probably cannot get insurable title and will require quiet title or a waiting period.

Yea i will discuss this more with my title company today. ty @Chris Seveney

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Quote from @Jonah Hartsburg:

If you're wholesaling the property, inquire with the seller about the property's acquisition history. This can provide insights into whether it was obtained through a tax deed. However, for confirmation of insurability for a warranty deed, rely on the expertise of the title company. They can provide the definitive information you need.

yea its with the title company now. i do need to learn more about the insurability of deeds. ty @Jonah Hartsburg

1 Vote

a couple diff potential buyers for a property im dispoing asked me if its a tax deed? Are they asking if I acquired the rights to it from a tax deed sell?

0 Votes

Quote from @Mark Van:

Quote from @Donte Rome:

Trying to get a second opinion on a rehab for rental.

@Donte Rome Did you find any contractors for your rehab project?
I'm Looking also having trouble...

yes i did find a couple for my area. i can send them your way if you are in that area too

0 Votes

Birmingham, Alabama

All Forum Posts by: Donte Rome

Donte Rome has started 13 posts and replied 38 times.

Post: Subto with VA Loan.

Post: Business partnership guidance.

Post: At what point in the process do title companies get involved?

Post: At what point in the process do title companies get involved?

Post: Removing tenants for a wholesale deal in Florida

Post: Is it a tax deed?

Post: Is it a tax deed?

Post: Is it a tax deed?

Post: Is it a tax deed?

Post: Any general contractors in this group?