All Forum Posts by: James Krahula

Subto Deal in Bonita Springs, FL
PITI $3661.08

Short Term Rental - $5200/month

Looking for $50k for around 5 years to cover the entry fee. Mostly furnished, so only purchasing minor things to get going.

0 Votes

Quote from @Jennifer King:

to all - great questions - to my knowledge you are all correct. sort of! if the bill passes wholesaling will become illegal w/out a RE license. not a show stopper but definitely a thing to note! what I'm not sure of yet is how the bill will impact the double close strategy if you're not licensed.

in any case if there are any investors (experienced) who are interested in being on my buyers list let me know!

The simple answer is you can still double close without a license, you are the end buyer. Now, if it ends up being similar to what Oklahoma did, you cannot publicly market the house until you have closed on the house, so there is that hurdle, but nothing that can't be jumped. :)

1 Vote

Germantown, Maryland

Quote from @Russell Brazil:

Quote from @Chris Seveney:

@Jennifer King

For some reason I thought wholesaling was illegal in MD

@Russell Brazil can answer that one

Not yet. But very likely will be on Oct 1 2024.

They couldn't work out all the kinks in the wholesaling bill during the 2023 session. Maryland only has a part time legislature. So the wholesaling bill will be worked on during the off session season, reintroduced in January with a fully worked out bill, that will likely pass then take effect the following October.

A DC bill is being worked on currently and could be in place by the end of this year possibly.

Fantastic insight. We all know these laws are coming, it's just hard to keep up with what every state is doing and when.

0 Votes

Germantown, Maryland

Quote from @Chris Seveney:

@Jennifer King

For some reason I thought wholesaling was illegal in MD

@Russell Brazil can answer that one

I think it's coming, but I don't think it's quite here yet, but I could be wrong, I don't do a lot of deals there. You can always double close though, so it doesn't change much.

0 Votes

Germantown, Maryland

I have Pace Morby's contract that has all of those protections and then some, I'll send that your way.

1 Vote

Germantown, Maryland

Sent you a DM, let's actually try to walk you through it and help you get your first deal done.

1 Vote

Minneapolis, Minnesota

Hey Kizzy, what markets are you planning on doing deals in? I have a wholesale contract you should be using if you're doing any deals in mutual release states like Florida or Texas. It's Pace Morby's contract he spent like $3400, and it has the best protections of any wholesale contract I've come across.

0 Votes

Fort Lauderdale, Florida

All Forum Posts by: James Krahula

James Krahula has started 1 posts and replied 7 times.

Post: Looking for Private Money on 2 Deals

Post: Would love to get a wholesale template that has been used in MD

Post: Would love to get a wholesale template that has been used in MD

Post: Would love to get a wholesale template that has been used in MD

Post: Would love to get a wholesale template that has been used in MD

Post: Getting a Deal/Property under contract.

Post: Looking to build connects