All Forum Posts by: Joseph Grullon

That is a great idea. Getting the answer straight from the horses mouth. I'm also in Miami, looking for the same information.

I may have to look to some further cities for my first deal. I am in Miami and ready to invest into my first rehab, but I have noticed that the spreads are better in the neighboring counties. My only concern is that I don't really know the areas I would be investing into, and don't want to buy a rehab that I then have trouble selling because it's "on the wrong side of the tracks".

Good evening Mike, I would love the opportunity to learn to wholesale from you. I have been on Biggerpockets for about 2 months and have soaked in all the podcasts as well as some RE books. Eager to put it all into practice. Thank you

I will check out the homepath contract on their site. Thank you.

I have a question regarding homepath. If I am able to secure a Homepath property through pre-bid at auction.com, how long do I have to wait before I can flip it? And is there a restriction on how much I can increase the sale price after I've rehabbed it?

Hello @Mohit Madaan  hope all is well. I am in Miami-Dade county. I would also like to know what type of lists you have available? I interested in residential properties in need of rehab for Miami-Dade county. Thank you in advance.

I actually just posted this yesterday:

I received a deal from a local wholesaler who emailed us a contract in order to assign it over to us. But the home was still listed Active on the MLS and Homepath, and was actually now over at auction.com.

I found this to be weird, so I decided to do a little due diligence. I called the realtor listed on homepath and asked them if the property was under contract, they said no. I called auction.com and they also said no bid had been accepted yet. So apparently the wholesaler was trying to assign a contract to me without actually having the deed yet. The realtor told me that because of this Fannie Mae put out a fraud alert on the wholesaler and the seller's name which he put on the contract. Just glad I was able to figure this out before I sent him the $5,000 cashier's check that he asked for as earnest money deposit.

When I asked the wholesaler for his side of the story, he told me that they had put a pre-auction bid on the property which was tentatively accepted and they were just waiting for title to clear.  So apparently he and fannie mae were not seeing eye to eye.

At the end of the day the property belongs to fannie mae, so i'll have to go with what they say. So now I am back at square one. The realtor told me that fannie mae asked her to submit an offer on my behalf and they will consider it for pre-auction. If they accept, I will get the property before it goes on auction.

So in the end I might actually be able to get this deal for less than I originally hoped for. Let's keep our fingers crossed.

Update on the property:

I received this deal from a local wholesaler and he is the one who emailed us the contract in order to assign it over to us. But the home was still listed active on the MLS and Homepath, and was actually now over at auction.com.

I found this to be weird, so I decided to do a little due diligence. I called the realtor listed on homepath and asked them if the property was under contract, they said no. I called auction.com and they also said no bid had been accepted yet. So apparently this wholesaler was trying to assign a contract to me without actually having the deed yet. The realtor told me that because of this Fannie Mae put out a fraud alert on the wholesaler and the seller's name which he put on the contract. Just glad I was able to figure this out before I sent him the $5,000 cashier's check that he asked for as earnest money deposit.

So now I am back at square one. The realtor told me that fannie mae asked her to submit an offer on my behalf and they will consider it for pre-auction. If they accept, I will get the property before it goes on auction.

So in the end I might actually be able to get this deal for less than I originally hoped for. Let's keep our fingers crossed.

Yes, all the comps that I pulled were 3/1 as well. The property I am looking at actually has 1500 sq ft more than all the comps.

Thanks for the reply. My partner is a realtor sphere will be listing the property which should save us some money on the closing costs. As for the rehab costs I will definitely take that advice. I found the property through a wholesaler. But it's actually still active on homepath.