All Forum Posts by: Shanda Brown

@Mike Hanneman @Brandi Carballo thanks for your input guys. I offered her 35k due to the condition of the home. She then said that she had 5 siblings attached to the estate and was hoping for a higher offer. With some help I was able to itemize rehab estimates and helped her understand that it has to be a win for everyone involved and offering her anywhere near 100k was just not feasible. She wanted some time to think about it so we shall see. 

@Melissa Gittens no problem check out this link too https://www.biggerpockets.com/forums/93/topics/68456-using-a-realtor-to-help-with-wholesale-deals

@Account Closed this is so helpful. Thank you so much for your insight. I make look into a transactional lenders.  

@Samuel Sedore I'm thinking that if she would have gone this low for the agent it would have sold by now. In my opinion some owners expect agents to work miracles. I'm not a greedy wholesaler so even if I came out with 2500 in a deal like this I would be okay...

sorry didn't mean to say delisted it is now listed for 20k

@Samuel Sedore the property was listed at 35k didn't sell and is now delisted at 20k because I know the owner I have talked her down to 16.5k . It took a bit of talking but she stated that she would take it. 

@Account Closed thanks for replying. I have only been in touch with the seller because shes a coworker. I thought the flippable llc sounded tricky and I don't want to deal with anything associated with red tape. Lol! With this being such a small transaction it does sound feasible to do a double closing, however, on larger transactions with a realtor involved I would really like to know how to go about it. When you open different llc does that mean you need to file separate business taxes too? I would to hear from someone that wholesales with realtors involved often. 

Hi Everyone,

I'm hoping to get some advice on the situation I have at hand. I have a property I am planning to put under contract for 16.5k and sell it for 21k..but I'll probably market it for 23 to ensure I get the 21. There is a realtor involved and I know you can not assign in a contract involving a realtor. My coach said to suggest get a flippable Plc or put it in my name. I'm confused.How would that work for tax purposes? How does the flippable Plc allow you to not assign the contract? Do you add the buyer to the flippable llc? Anyone that can provide information would be greatly appreciated. 

 Hey Doug,

Thanks for the reply. I spoke to her about an offer of 35k and let her showed her a home i found that was almost in the same condition as hers but slightly better in the same area same square footage that sold for about 50k. I used that as a pitch to get her thinking realistically about what that home is really worth. I also ran down everything that would need to be upgraded detail by detail which was basically the entire house. Lol! I told her although she said plumbing and electric were good am experienced rehabber would still update those. She definitely got the idea of getting anywherw near 100k out of her head. She then told me that she had 5 cousins attached to the estate thats why she wanted so much but understands its not realistic. She plans to speak to them about everything I told her and get back to me. 

@Kim Coleman hey Kim! We might as well all learn together. Thanks for dropping in :)