All Forum Posts by: Ana G.

@Shanequa J.

Ok so basically the note is the contract? Or are they two separate documents? And when do you close if you are paying the seller a monthly fee? I feel like I'm gonna have never ending questions. I think I would be able to figure it out better/easier if I had a sample contract.. Would I be able to get a glimpse of yours?

@Gilbert Dominguez

Haha thanks. I'm starting to think the only way to do this is to do just what you and @Shanequa J.

 are recommending and get an attorney written contract. But I still have so many questions about the process of a seller finance deal in general. I'm literally starting from scratch. I guess I have a lot more research to do.

I'm a wholesaler in Miami Fl and when sellers call and ask for retail, I used to be forced to move on (mostly because the seller still owes a mortgage close to retail price). So lately ive been saying, yes we can give you full market but you have to seller finance/owner finance for 20 years.

Does anyone know how this process works? Does anyone have the contract for this type of deal? 

Would a mortgage assumption be even better? Does anyone have the contract for an assumption of mortgage? 

When would i get the deed? Help would be SUPER GREATLY appreciated. I literally have 5 sellers who are interested. HELP!

Originally posted by @Mario Riley:

Originally posted by @Ana G.:

Yes I've had one issue. I forgot to put that buyer pays all closing costs into my contracts and one time I had to pay a sellers closing costs ($2,500!). Since then I've added that my buyer pays all closing costs and haven't had any issues since. Also, I don't think a florida contract is good because it's so darn LONG! But what do it know, I've only done two deals so far with two more in the works. The two title companies I've used so far have had absolutely no issues with my contracts. Closings went just fine and I got paid.

 Hey Ana can you recommend title companies to use for wholesale closings? I'm in the process of putting together a deal would duly appreciate it!  

Cheers 

 Sorry for the late response. I also use independence title. They are the best in Fort Lauderdale/broward!

Originally posted by @David Wurzel:

@Ana G.

I don't believe I am asking this (because it really sounds awkward) but what does "practice the law of attraction" mean?

Basically how it works is this: you must be AWARE of the power you have with your mind. When you make the decision that you want something, you must feel the feelings and excitement of already having achieved this thing that you want, and you will begin to manifest it. The universe will bring to you EXACTLY what it is that you want. Be GRATEFUL and HAPPY that you have this thing. Be satisfied that you have this thing even if you don't physically see it yet. I am a great manifester. I always have been. You just have to be careful about negative thoughts. Remove them from your mind completely. Nothing in this universe is bad unless you say it is. Stay positive and continue working KNOWING that it will result in a deal or whatever it is that you want. One person I am OBSESSED with is Abraham Hicks. YouTube it. You'll discover some serious things about being the CREATOR of your life that will blow you away. Here's something I do every day: write down what you want like this "I am so happy and grateful that I HAVE (what you want). I feel so excited, and happy, and carefree that I have this thing" and say it with animation. STAND UP, FEEL AS IF YOU ALREADY HAVE IT, AND BE SO THANFUL FOR IT. Do this in the morning, in the afternoon, and right before bed. Walk around smiling because you know you have this thing (this one makes it arrive faster because think about it, if I just got paid for a deal I did I don't care wha bad things people may say or think of me, I JUST MADE $50K OFF OF ONE DEAL!!) hope that helps :).

@david w

I initially outsourced my mailings to yellowletters.com and others, but for my small list of 50 probate leads, I decided to write them myself. I swore I'd be able to finish in 3 hours MAX. No. Wrong-o. Stamps cost me .50/each + 100 envelopes + Ink + ugly handwriting after the 10th envelope + 2 days to do it. Lesson learned. Outsource it, seriously. If you can't afford a ton of yellow letters, do postcards. They do actually get you a decent response and if you practice the law of attraction, you WILL get a deal off that one small mailing. Trust me.

Marquest Page Good for you! You put in work, you were fearless, and you got a deal under contract! Congratulations! Now to sell your deal I have a few tips to sell your deal: #1 is the absolute BEST way to sell your deal and that is to contact every single wholesaler in your area and offer 50% of the fee to JV with them if they find you a buyer. When I had a deal that I wasn't sure I would be able to sell, it was gone in 24 hours when I found a JV partner who had tons of buyers. #2 is put it on the MLS as a flat fee listing. It should cost around $200-$300 but you're going to get so much exposure it's going to be worth it (list it as a cash/hard money only contract for purchase deal-just assign it to them and get a $3k deposit). #3 is send out postcards or flyers to ALL the recent cash and hard money sales in the last 6 months advertising your deal. Include photos, address, contact number, deposit fee, website if any, email, etc. #4 Craigslist & postlets #5 imagine yourself going to the title company picking up your check 3 times a day. Feel relieved that you were able to sell your deal so easily and quickly and now you want to help other newbies like others have helped you. Good luck!!

Iris Ortiz In my opinion you can give them a couple of options. "Ok my partners and I would like to offer $X for your property." If seller responds like HELL NO THATS A WACK OFFER! "Ok mr seller I do have one more solution to get you exactly what you want in price and it'll be on my terms in the form of a seller finance or lease option". Also just so you know, basic offers are 70 % of ARV - Repairs - Fee = offer price. Seller finance or lease option can get them full price. Hope that helps!

Jonathan Breines William Manzie Yes I can share my contracts but I am NOT an attorney and you'll need to have them look it over before you use it. Send me a PM and I'll send it over!

Yes I've had one issue. I forgot to put that buyer pays all closing costs into my contracts and one time I had to pay a sellers closing costs ($2,500!). Since then I've added that my buyer pays all closing costs and haven't had any issues since. Also, I don't think a florida contract is good because it's so darn LONG! But what do it know, I've only done two deals so far with two more in the works. The two title companies I've used so far have had absolutely no issues with my contracts. Closings went just fine and I got paid.