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All Forum Posts by: Gerardo Dominguez

Gerardo Dominguez has started 5 posts and replied 221 times.

Post: When wholesaling who pays for the title company

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101
Originally posted by @Mike Thompson:

When wholesaling a property  who pays for the title company if you go to a title company as soon as you get your purchase agreement signed? Do you have to pay the title company anything upfront? Or does the person who you assigned it over to pay for everything? And what happens if you are unable to close? Thanks so much 

 Who pays the closing costs is negotiable and is determined between you and the seller before you both sign the sale contract.  If you wholesale the property, the end buyer is basically just stepping in for you on the original contract so it won't change.  If the original contract says the buyer will pay closing costs (which include the title company charges) then just make sure to include those costs in the the offer your making to the end buyer.

Post: Newbie from Northwest Suburbs of Chicago

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101
Originally posted by @Eugene Naroditskiy:

Hello BP! I'm Eugene, from the Northwest Burbs of Chicago, and have dabbled in Real Estate for the last few years. Through recent life circumstances and having more time on my hands, I've decided to jump in with both feet and make a go of it. I've wanted to learn this business for a long time and I think I'm at a point in my life where I can devote the proper amount of time to do so.

I'm currently focusing on wholesaling and flipping, as I feel these would be the best strategies that will allow me to learn the business as well as make some cash at the same time.

I'm always looking for like-minded investors to partner up with, learn from, and create win-win situations.

Also, I wanted to give a special thanks to @Wendell De Guzman for taking the time to meet me in person and educating me about this business. I look forward to working with and learning from you in the future!

Cheers!

 welcome to BP!

Post: Youtube Channels

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101

Seth Williams has a bunch of good videos.  Also his retipster.com site is chock full of goodies.

Post: What are my creative financing options?

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101

@David Grimm Try searching the site for the phrase "Creative Financing" or read @Brandon Turner's "...No money down..." book. Off the top of my head I would say you can still look into doing lease options/ JV's/ etc; basically any creative financing besides House Hacking :) Good luck!

Post: Looking to connect with wholesalers and fix and flippers in the Denver Metro area

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101
Originally posted by @Mark Kennedy:

Hi BPers:

I am getting back into the game after a few years off and looking to connect with wholesalers and fix and flippers in the Denver Metro area. Lets have a cup of coffe and chat. Hope to hear from you soon.

 Welcome to BP and Good Luck!

Post: Direct mail to buyers?

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101

lol Sorry, I meant to tag @Pedro Oliva in the last post.

Post: Direct mail to buyers?

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101
Originally posted by @Nick Feyereisen:

I just sent an absentee list to 400 people. Got about 15 calls in the first week. Most are people who are renting houses and looking for a good offer to buy their property. Out of of 15 calls .1 was a motivated seller but had negative equity.  Make sure you ask a lot of questions when they call. I always ask what they are looking to get out of the property.  Don't set an appointment until you have a notion that they are motivated to sell. These people are getting 2-5 cards a month. So most likely your not the only post card they are looking at. Hope this helps. Good luck and let me know how it goes for you. 

Your list was specifically for motivated SELLERS, right?  Sorry for the stupid question, I was just confused because @Nick Feyereisen was asking about a buyers list.

Either way good luck with your latest direct mail campaign!

Post: The Truth about Wholesaling!

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101

@Will Barnard This has been a very informative thread, thanks for getting this converstion started. Quick question for you...In your opinion, what is the minimum CoC return in order for you to consider buying a deal?

Originally posted by @Dominic Lobban:

I have no idea what kind of questions to ask

 I had the same exact question recently.  I found a checklist on REtipster.com.  Just sign up for a copy of @Seth Williams book and you get the free tipster tool box; the list is in there.  Pretty sure that was all free; if not it was very cheap.  Otherwise, I agree with @Micah, just search around for something you like.

Post: Creative financing book

Gerardo DominguezPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 238
  • Votes 101
Originally posted by @Walter E.:
Hi, is there a book or books that you guys can recommend that talks about all the possibilities of creative financing in real estate? Thank you in advanced!

Great minds think alike! lol I'm currently looking into this as well. I've included links to some good articles I just found today on Subject To deals. Also, I would recommend Brandon Turner's "...No Money Down..." book.  If you become a pro member, you get it free.  Good luck!

http://www.biggerpockets.com/renewsblog/2010/09/10...

http://www.biggerpockets.com/renewsblog/2009/06/24...