All Forum Posts by: Jason F

I have signed purchase contracts with sellers with a $100 escrow amount, because we both knew it was a long shot that I was going to be able to buy the property. Is there something wrong with that? I'm not sure if I understand the big problem with the wording of the back out clause. If for some reason my end buyer falls through, and I wasn't able to 'back out', wouldn't the worse that could happen be that I lose the $100. Isn't that why that money is submitted? If the seller was that concerned they should have had you escrow more money. Has anyone here ever been sued for NOT buying a property they had under contract and did not buy.

I've always wondering why wholesaler's don't become realtors?

Sure there is more work involved but you can make 3 to 6% on most of your deals, which might be better than the 'assingment fee'. Also, you are able to reach retail buyers on the MLS who might be VERY willing to buy the properties you find because they are cheaper than most others.

Do more rules apply? Are the brokerage/operating expenses to high?

It just seems that after a while of people knowing that you are a person who finds really good deals, people that aren't "motivated" to sell would start using you as well. You can still contact motivated buyers and align them with your investors.

Any thoughts?

John Corey's right. The lender can excercise the DOS if they want, there's nothing against 'the law'.

People that purchase a property sub2 with the sole intention of letting it go to foreclosure are pretty unethical.

Dirge,

I would go with what Ohio Realtor said. Buy the house from her and give her a downpayment and structure your interest payments to her as low as you can. Also, sign a lease with her that allows her to remain in the house, rent-free, for as long as she likes. This will give her the cash she wants, which she can use to find another place, and will still allow her to live 'payment free' like she had been doing up to this point.

The only problem for you is that you will be negative cash flowing every month. I'm not sure your position but that might not be the best thing to do. Also, she will have a mortgage on the property. Even if she dies, you will still need to pay the mortgage back, unless you can get her to will the note to you or something like that.

I would talk with a commercial realtor and ask him what kind of commercial space is the hottest in your area. Does he have any large clients looking for a spot? What moves the most according to him?

If you have tenants lined up it makes this entire process easier and smoother.

Well, evidently the ability to put a billboard up is very contingent on the city code of ordinances. Unfortunately, I was just read that the city that I own property in has put a stop to allowing any more billboards or large "off premises" signs, which are basically commercial signs for businesses that do not occupy the property.

Oh well, it was worth a shot.

I have a commercial property here in Florida on 301 and I'm interested in building/leasing out a billboard on the property.

I wanted to see if anyone has any experience in the outdoor advertising area. I would like go through the approvals/permitting process myself rather than land lease to an outdoor media company.

Is this going to be completely impossible or can it be done? Can most contractors find someone to build these or do I have to go with a special billboard construction company?

Anyone have any contacts in Florida I would greatly appreciate it.

Thanks

Mike,

While I have never done this, I have heard of it being done. I'm sure as long it is notarized and properly prepared it wouldn't be a problem. Sounds like a really good idea to avoid a very costly foreclosure.

I think this poster was trying to get people to ask him about the company and express interest in it.

Seems odd that he would join the group. Mention some international company with great returns that his "friend" invested in and then never make a post again.

I bought a house in a really nice area and I want to rehab it very differently then the way I'm use to. Instead of cleaning it up, throwing down beige Lowes carpet, painting the walls white and 'making things work', I want to create a very contemporary and customized look.

It has metal bi-fold doors and every piece of me is saying "paint them and throw them back up" but I want to see if anyone has any alternative ideas to these loud clunkers. I'm sure there has to be a opaque glass alternative or sliding something. Any idea?

I was thinking maybe save the hardware and build my own wooden doors with the glass inserted. That, however, sounds like something I think is a good idea until I start to see the final product.