All Forum Posts by: James A.

Wow! Inspiring story to hear. Wish I can do the same in the Seattle area. Can you teach me how to do that? haha :) 

Hi @Anthony Davis,

See my answers to your questions.

1) His lender with Wells Fargo has given those options to either SS, deed in lieu and come up with the back payments.

2) Hasn't moved forward with the mortgager yet. That's why he called me, but his commitment is to pursue short-sale.

3) I personally wouldn't be capable of paying the payments from my end. That's why I'm attempting to see if I can wholesale this out to an end buyer. 

4) I definitely have a line of potential buyers through my line of network.

5) As a wholesaler, why would I need transactional funding if I am attempting to wholesale the property to a potential buyer? *As a side a note, he does have an auction date of 2/26/15 before going into auction. What are the benefits to leveraging LENDING HOME?

6) From a wholesaler perspective, you want to:...

A) Can I use a general wholesale contract to setup with attorney? Or does the contract have to be structured specifically with the attorney? B) As a wholesaler, were you referring to negotiate a price with the seller or bank to create a win-win situation?; How would you DOUBLE-CLOSE?

In general, either way I can still attempt to setup a wholesale contract with the seller and then proceed with the course of action to work with an attorney and broker? Is that correct?

Hi @Ted Akers,

So, why can't someone like myself approach the bank as a wholesaler (or another party consultant) without being a licensed realtor? Not to say I wouldn't be opposed but would have to eventually. I can certainly find one through my local REIWA and other networks if I need to find a short sale realtor.

But, just to confirm I can still put the property under contact with the seller either way? Is that correct? Is there a specific contract from a wholesaler perspective that needs to be structured with a realtor and attorney? Or just put it under contract first then go find the broker and attorney?

As a side note, the seller already has an auction date till 2/26/15 before they will foreclose. Anything here that would restrict me from helping the seller to move the property as a wholesaler?

So, would I need to get a short sale broker involved either way?  Should I attempt to lock it under contract first then have a SS broker involved?

Hi there,

Question to the forum. I've a got a distressed seller who has been given the option to either short sale, deed in lieu or catch up on payments (worth around $16K to catch up). Bottom line he wants to short sale and get rid of it.  From a wholesaler perspective, I'm a little green to this approach so I'm just curious what initial course of action would you take in order to move this property off his back. Any suggestions or ideas would be helpful. 

Thank you,

James

Thanks for your feedback Hattie. The city I was evaluating is Terrell, TX (30 miles east of Dallas) and I was hoping to find out more about an area specifically. Are you familiar with Terrell or know of some realtors in that area? 

Are there anyone from the East Dallas, Texas area who can possibly provide some general feedback within a specific location area or can point me in the right direction? Any tips or advice would be helpful. Thank you for your assistance!

Regards,

James

Hello All,

Would anyone from the Seattle market know of a good title company I could possibly use in the Bellevue/Seattle area? Please reply via this post or text/email me to 206-719-8909 my cell or [email protected] my email. Thanks a bunch!

Regards,

James

Hello Fellow Investors,

I'm getting ready to assign a property under contract to do a wholesale deal in the Seattle Market. Would anyone be willing to either provide or share the appropriate forms/contracts for our area to wholesale market deals perhaps? If so, please contact me ASAP either via email- [email protected] or 206-719-8909 my cell. Your help would greatly be appreciated.

Thank you,

James

So are you an active rehab buyer perhaps? If so, what's your criteria?