All Forum Posts by: Gina Worsham

Hello from North Little Rock!

Welcome to BiggerPockets!  I wish you much success on your new adventure and look forward to celebrating with you!

Gina Worsham

Hi Dave,

I had an agreement with the seller on a "finders fee" for me.  

Gina Worsham

As a Wholesaler, should I avoid HUD foreclosures or work as many as possible? A realtor recently told me the rules have changed.

Gina Worsham

Hi,

Hattie Dizmond, I've been making sure to tell as many people as possible what I'm doing, after this deal.  I'm changing my cards and promoting my website as much as possible!  Thank you for the advice!

Gina Worsham

Thank you!

The Wholesalers I know are only out around $10.  Seriously.  Sometimes $5.00.  One time she gave them a check for $5.00 on the spot to and filled out the contract, which stated that at closing she (the wholesaler) would give the home owner a $1,000.00 deposit.  She made sure to get enough from the buyer (a contractor/flipper) to cover the $1,000 and her $2,500 finders' fee.

Gina Worsham

Thank you Claudia and Raquel!  It is great to share a win!  This one actually was easy, but I had been looking, calling, working for 3 months before this one happened and was getting discouraged

.   A friend who didn't know I was wholesaling actually mentioned to me that she needed to sell her home.  I told her what I was doing and we came to an agreement.  I immediately went home and started doing my homework on the property.  After a few hours in front of the computer, I decided to post it on my Facebook page.  A friend of mine sent an immediate response that she wanted to see the house.  She bought it on sight.  We are in the process of closing right now.

The seller owned the property outright - no mortgages.  She was willing to do some owner financing.  The buyer needed owner financing.  The buyer has been in a 950 square ft apartment for the last 2 years but couldn't get traditional funding for several reasons.  She is moving into a 2,950 sq ft home and her total payments are no more than the 950 sq ft apartment!  She is thrilled!

The one thing I've learned is make sure to know the closing process (in Arkansas, in order to get the taxes transferred to the buyer, we have to file a Warranty Deed and Mortgage.  I'm the wholesaler, and I'm in charge of this process - all new).   There are some other things that I didn't know about, until I had to find out.

 All the teachers said, "make connections with Title companies, lawyers, etc"  This is why.  You need to have someone who will be ready when you are.  Make the connection before you need them.  Otherwise, they will drag their feet.    The one I had talked to dropped the ball completely.  I cold-called another company and will probably use them for all my closings from now on.  She went into detail about the closing options and spent time with me. 

My goal is 2 wholesales a month.  January is almost over, so if this is my only one this month, I'll work towards 3 in February. 

I look forward to celebrating with you and building a strong network to encourage each other.

Gina Worsham

Hi Michael,

Good to meet you!  I know a contractor who is rehabbing properties in Benton and Bryant.  Also, I have some funding options that fund the deal (not banks).  I'll email details to you.  I would love to help you get started!

Gina Worsham

Hi Paul,

Thank you!  I would love to get involved with Carreia and will visit the website.  I look forward to meeting you.

Gina Worsham

I'm so excited!  This month I made my first wholesale deal and am so ready for the next one!