All Forum Posts by: Daniel Williams

Jasmine and John,   thanks for giving such good advice.

Thanks Brian I will look into this.  Thanks to everyone for helping.

I have not gotten my first deal but i was wondering is there a good title company in the triad of north carolina.  I have wholesalers traveling to charlotte just to complete/close  deals in greensboro...not cool!  What are good qualities to look for in a good title company?  Should you expect to get charged for a title search if the deal falls apart?

This is my 3rd offer... i have a family that wanted to go back to California and had a 35k property which they said was worth 45k.  I have not seen the inside but the comps was about 35k... so i offered a soft pass of 10k they called me crazy, so i offered 15k and they said if i cant offer 35k dont call them back and hung up on me...  when i was talking to the son i was trying to build rapport but i was kind of talking to many people cause i was on speaker...  what could i have done better?

Not complicated Daniel... You just made that really clear.  I got it now.  You guys are awesome!!!  I love this place.   I can take a Subject to for myself and then find a tenant to lease option the property... I collect their rent for a profit and when they buy the place I collect the equity created by the increase in the market and the decrease in principal from the payment of the rent. 

Is lease option the same as subject to?

I put my new wholesaling brain to work and this is what I crunched out:
Seller’s Lien/Mortgage Amount $60K
Comp/ARV about $80K
My Offer price $42K (Which is $80K x 65% - $10K)
Looking to Assign it for $45K ($3K for me)
However the seller will still be in the whole $18K not to good.

If this is a subject to deal can I assign it for $7K and give the seller $2k and I take away $5k?
Will this be attractive for a property with about $20+ in equity?

sorry all the property is worth about 100k with a 60k mortgage on it

About to get a contract on a house that is worth 100k ARV but has about 60k mortgage on it. I need some help on how low should I get the contract to be fair to the seller and so i can make at least 4k from the deal. I would like to get the seller about 5 to 10 k. I am in mt airy nc. (NOT TO FAR FROM WINSTON SALEM NC). Please help. They are a motivated from the call...