All Forum Posts by: Jason O.

I met a guy at club meeting. He said wants 4 family apts to rent out. He gave me what he wants with rent and profit.

I found a 2 family apt with the financial parameters he wants.

Do I ask the end buyer/investor if he's interested first? ...then put the home under contract? I haven't seen the property yet either. Should I go over and take pictures and then show the buyer? What do I do?

I've heard the best strategy is to wholesale to investors and double close with owner occupants, because wholesaling is less possible trouble with an investor than OOs. For the sake of argument, it's just a cash buy.

If a wholesale or double close deal goes through with a lender, how long does it take to get my money? And, this is when I just get my money in cash, right?

Thank you guys.

If I'm assigning a contract with financing, how long is the title seasoning and when do I get my assignment fee?

Is there a specific way or word choice to speak or write to an investor buyer so that you won't look like a broker?

Here's a made up question/answer

Me: What's the monthly rent roll profit you'd like to see?
If you do sell the property, what's the minimum capital gain you'd like?
Investor: $2000 monthly. $40k profit. Why?
Me: I'm just trying to get specifics on what you want from a property. Do you have a cap in how much in cash you'll spend?

Is this ok?

-Jason

And, I take it if the end buyer is paying cash, there won't be a need for a contract. ;)

I know this is an old thread. Crosswind, I didn't see you putting the property under contract. Do I miss something?

So with consumers as the end buyer who are financing, it's better to do a double close?

Thank you.

Is most wholesaling to investors only, not consumers? My aunt wants me to find her a house, and she says she'll pay me. Do I wholesale? I'm not going to sell it for retail to her. I have two other friends of friends who want to buy and live in the house. Do I just double close? Is wholesale appropriate to consumers? I'm in NJ.

Has any called a mortgage company to find out about their foreclosures list?

Who's the governing body for a state's real estate laws? I'm sure every state has an organization that regulates real estate transactions. If I have a legal question, I'd rather go to the horse's mouth than hear 5 things from different lawyers. Heck, that's what the lawyers would do anyway.

What state dept would I call if I had this question: Is wholesaling REO in NJ legal?