All Forum Posts by: Eden Lutchmedial

Hello All,

I would like feedback on how someone would go about wholesaling this mobile home:

This home in Florida is in a community, the lot rent is 800 and is being rented out by the current owner to tenants for 1200/mo (month to month lease). Whoever purchases it will cash flow 400/mo. 

The home is on sale for $9,950, not including the land. For an investor looking for cash flow, would there be any drawbacks knowing they aren't purchasing the land? And are there any other concerns as a wholesaler about this potential deal such as processing through the title company/DMV etc.? I just want more insight on how this would be executed if put under contract.

Thanks :) 

Hello, can you let me know if you found an answer to this within the last year? I am struggling with this too

@Chris K. okay thanks for the info!

I am a student at Penn State University and I want to start wholesaling through my parents LLC (which is based in Baltimore). I read in a book that I need to find a closing attorney but I have some questions that I can't really find the answers to:

1. Can I still do deals in PA given the LLC is based in MD? And If I am doing deals in PA, does the closing attorney have to be located in PA as well?

2. If I want to wholesale deals in different states, do I need to find a new closing attorney per state?

3. How does the payments work for the closing attorneys? If I ask for a “For Sale by Owner” package (or any package for that matter), does that require money up front? Or do they only get paid once a deal is closed?

4. Are there any hidden fees associated with working with a closing attorney outside the actual closing?

Thanks!

I would like to approach someone I’ve been looking up to on Instagram for some time now about mentorship. I noticed on his profile he has clients and they do well, however, I don’t see where I can become a client of his. I am a college undergrad student looking to start my own real estate empire and was wondering if it would be weird to email him about mentorship.