All Forum Posts by: Gavin Welch

I have sold a couple over the years, like you we rehab homes.  Either there is not a demand for this niche or I couldn’t figure out to get in front of these tenants

The lakeland realtor association produces market statistics on their website.. it’s mls wide not just POLK co or lakeland.  Let me know if you need any help, we flip about 70 homes a year and are now doing a lot of new builds, in addition to rental portfolio..

Gavin

Sure, my number is in my profile

there are a lot of options and higher cash flow in Lakeland 

If you are outgoing, self motivated and know how to hustle, then it might be a good fit for you.  If you like/need the structure of a 9 to 5 job, then it may not.  

I'd find someone in your local market and ask to shadow them for a day.  It is not as easy as its cracked up to be.  Takes a lot if hustle and drive especially in the beginning.

Good Luck

Even the Lakeland market is getting tough.

@Jimmy Green  I can help you with all those options.  Clearly, getting all the money upfront is best.  So you can attract a buyer and offer seller finance as a back up.  Obviously, if you bought it for your son and family to live in while he was in college, that would be the people I'd focus selling your condo to.

Message me for more information

Gavin

Under 50k in Sanford is going to be a war zone.  Here in Lakeland, you can get a lot on mobiles at that price, but you'd better have low expectations to buy a sfr for that price here now in the current market.

Putting a house under contract just means that you made an offer and the seller accepted.  The offer is not really valid, until there is consideration (money held in escrow).  You can use any type of contract, you can even hand write one on a cocktail napkin.  As long as its clear, concise, signed and there is a deposit.. Its valid.. 

Ask an agent for a blank contract in your state.  

If you make the contract "assignable" you can then sell the contract to an end buyer for an assignment fee.  The buyer pays you the fee, you give them the contract and they show up to buy the house..

P.s. Laws vary state to state.. Ask an investor in your state what they do.. 

Good luck

If you purchase the property "subject to" existing financing the "future ex" may also have to agree to this arrangement.  The problem is that you are going to be financially connected to these people (both) for the remain term of the loan.  If they go into bankruptcy you could get stuck with nothing.  One of them is likely to get remarried in the future and the future spouse could not like the arrangement.  I'd try to avoid this.

If there is really that much equity in the home, you shouldn't have any trouble finding a lender to finance the deal for you.  Private or institutional.