All Forum Posts by: Garth Collins

great success story. Ive been at it for about 9 months and looking to close my 1st deal 11/11.  They were supposed to close 11/7 but I just heard from my attorney and closing has been pushed to next Tuesday.  Hopefully I have a similar success story soon.

Give your Buyers as much info as possible.  At the end of the day they will do their own due dilligence and decide if the deal will work for them.  A video tour helps also, saves time and helps weed out uninterested buyers.

@K. Marie Poe Yes, there are two lien issues with this property. According to our county clerks office, the property is scheduled for a tax sale in october if they havent been paid in full by this time. Thanks for the advice, I am going to reach out to my buyers in the area to see if i can create a large enough spread the make this worth while. Knowing the area that this one is in though its going to be a tight squeeze.

Wendell,

Thanks for the advice, your suggestions seem like they would have definitely worked out for me. Unfortunately, the person down at the county building called me about a hour to say he made a mistake yesterday. The seller actually still owes taxes from 2010,2011,2012 totaling $8800. Even with negotiating those liens down I dont see any more room on this deal. If you have any suggestions I would love to hear them. Thanks again!

@Brianna Schmidt Thanks for your Assistance on this

My name is Garth I am a newbie wholesaler in the northern Illinois area. I have come across a property in my target area through my bandit sign marketing. The property is run down, needs a total rehab, and looks like a few squatters have been borrowing it. The owner hasn't been to the property in years and is just ready to sell as soon as possible. We agreed on a purchase price of 7k, but we haven't signed the contract yet. I am a bit hesitant because I recently found out there are 8 liens on the property totaling about 3k, also according to the county they owe 2k for unpaid taxes in 2010. I'm not sure if i can still make this deal happen. Should I come to the seller with a lower offer of 2k? Should I keep my offer the same and write the contract to state the liens will come out of their 7k? Or should I put the responsibility of the liens on the end buyer? I was planning on marketing this deal to my buyers for 13k, but these liens have my head spinning. This would be my 1st wholesale deal if I were to close. I could really use some advice from the bigger pocket community, I'm open to any and all suggestions. Thanks

hey we're you able to close on this deal?

Hi,

My name is Garth I am a newbie wholesaler in the northern Illinois area. I have come across a property in my target area through my bandit sign marketing. The property is run down, needs a total rehab, and looks like a few squatters have been borrowing it. The owner hasn't been to the property in years and is just ready to sell as soon as possible. We agreed on a purchase price of 7k, but we haven't signed the contract yet. I am a bit hesitant because I recently found out there are 8 liens on the property totaling about 3k, also according to the county they owe 2k for unpaid taxes in 2010. I'm not sure if i can still make this deal happen. Should I come to the seller with a lower offer of 2k? Should I keep my offer the same and write the contract to state the liens will come out of their 7k? Or should I put the responsibility of the liens on the end buyer? I was planning on marketing this deal to my buyers for 13k, but these liens have my head spinning. This would be my 1st wholesale deal if I were to close. I could really use some advice from the bigger pocket community, I'm open to any and all suggestions. Thanks