All Forum Posts by: Gamal Darwish

look, 

I AM LOOKING FOR THE SAME ADVISE ABOUT THE SAME COURSE IN OREDR TO SAVE TIME AND NOT ABOUT SAVING $97.00

the only guy who like to give comment is Bill G and his reviews is almost the same , stay here , read all day , learn from members, and of course discredit anything that walk outside bigger pocket.etc. do not listen to him , listen to your gut feeling evaluate comment from members who got something to say. I did listen to his video and I did learn something about finding wholesaler anywhere( for properties ) and he spoke about social media and how to find buyers anywhere, forms to protect your fee from the wholesalers, etc , he spoke about VA and training them via videos course that you are buying , and more.

by the way I have tried in the past to review here in bigger pockets many MAJOR gurus programs and the result always WE NEVER HEARD OF THEM , never good or bad comments.

if you could buy a single idea that works and help in establishing your business for $ 97.00 , wouldn't you pay for it?

Good luck

1-4 family properties do not need green card.

ask building inspection department they will tell if it is actually 3 family or not.

I MEANT NONE REFUNDABLE FEE.

The best way to approach the sellers of any situation is full disclosure with an option to purchase agreement ( standard flex agreement) which detail :

1) the option is assignable to end buyer ( for fee).

2) if buyer / optionee ( I) is not able to find an end buyer the agreement will be null.

3) Seller has the right to cancel or find his own buyer.

4) buyer/optionee is not real estate agent and is not representing anyone in this deal.

NO LIE , NO ACT AS IF YOU ARE CASH INVESTOR, FULL DISCLOSURE, NO PURCHASE AGREEMENT WITH SELLER ( unless if you solid buyer but again you could assign your option agreement and collect the assignment fee. there is no need to get in signing purchase agreement that you fully aware that you will not close on personally).

Assigning your right to purchase your end buyer, and have him sign with the seller the Real estate purchase Agreement, after he sign your Fee assignment agreement and place refundable part /full of FEE.

there is no law broken here, you are not acting as realtor , not lying. what you are doing is helping someone who was unable to sell via realtor or himself, someone who will lose everything if the house is lost in auction...., so finding a buyer to cash him out, saving credit is not a bad thing BUT FULL DISCLOSURE-NO PROMISE.....

these type of homes are in condition and distressed situation that realtors can not help because they are not financeable, not enough equity to pay their commission, not in move in condition for the retail buyers

thank you

30 days ago , I order 1200 yellow cards from yellow card.com , I obtained the list from listsource.com , here is the result I got 70 returned cards due to inaccurate addresses so far , about 10 total calls, I meet only 1 seller in foreclosure, she was behind 12 month in payments, her house need 40 K for updating, ARV 170. so there is not enough spread , not only that the seller want 80 K .

listsource.com provided me with :

1) absentee owners with 100% equity ( 500 cards) : these owners are not motivated as much as I thought, many of them want 100% market value, not wiling to consider seller finance of any type, or telling you the least price that they can accept. they want me to give them offer since I approached them to buy their property.

2) pre foreclosed list with 40-50% equity (out of 700 cards) : only 3 responds back.

the result is worthless while it cost me about $700 for the total of 1200 card

what are the best source for accurate listing?

what are the best method of mailing?

what is your methods of getting better results?

I contacted Sell by owner on craiglist via email and sent to him a link to my website. he filled a seller form , we talked on the phone and we meet to sign option agreement for 130 k for 45 days.

His sale by owner ad - is all over on line for 135.9 K .

HOW COULD I ADVERTISE ON LINE WHILE HIS AD STILL THERE?

Any thoughts - how to overide his ad from all major marketing websites? thank you

Thank you for all your reply , fortunately my buyer is new and has his own money and this property is his first investment .He saved the cost of hard money which is about 16 K as per Jon Holdman. he will pay 15 k for commission and closing costs .

So he is closing on the house this week and he will be making 30 k on gross invested cash 195 k in 90 days time frame. he is happy and he might be able to sell it for even higher price 225k-250k

I am sure 70% formula less repairs is SAVE zone for rehabbers due to the following 1) over spending the rehab project and taking longer time to finish it. 2) overestimating the selling price. 3) hard money cost: 4 point and 14-18% interest. 3) underestimating the holding cost.

Thank you

if you find a house that ARV 225 k, that you can buy for 155 k and rehab for 25 K, and you have selling cost 15 K ( realtor commission and 3 month holding....) , let us say the total investment amount = 195 K

the net profit = 30 k which is not bad return of 15% in less 3 month from start to sold.

the formula 225 x 70% - 25 k will be the price rehabber want to pay which is 132.5 k which is too little TO SELLER, which sometime leave nothing for the seller to walk away.

what do you think?

Home owner facing foreclosure who did not make a mortgage payment for 39 months called me to buy his house CASH AND CLOSE FAST.

I got him interested in signing option purchase agreement which indicate that he can also find his own buyer while I am trying to find an end buyer.

I want to know if this type of agreement is better than just a standard contract detailing the below terms.

I talked to him to accept the following on the option agreement that was turn later to contract when I found end buyer.

full price 142,500

his walk away money : 22,500 @ closing

reinstating his loan : 70,500

I found cash partner to assign the contract to, for a fee payable @ closing .

is