All Forum Posts by: Juan A.

FINANCIALS

• Estimated ARV: $315,000
• Estimated Repairs: $15,000
• Price: $195,500

CASH OR HARD-MONEY ONLY
$2,000 non-refundable deposit
Buyer pays all closing costs

DETAILS

• 3 Bedrooms / 2 Bathroom with formal dining + 1 bed / 1 bath apartment
• Living Square Footage: 2,200
• Lot Size: 1.2 Acre

ADDITIONAL VALUE: 1 Bedroom 1 Bath apartment currently renting for $700/mo

GOOD CONDITION

• ROOF, Most Fencing, Tile (living, breakfast, kitchen, bathrooms, and apartment)

REPAIRS

• Small sheet rock repair (5 inch by 5 inch square) $150
• Interior needs to be painted $2500
• Cabinets in the kitchen and bathroom need to be painted $1100
• Carpet in the bedrooms and in the home office needs to be replaced $1800
• Floors in the mudroom needs to be replaced $350
• Bathtubs/Bath surrounds need to be refinished or replaced $2500
• Some siding needs to be replaced $3500
• Some fencing needs to be fixed $250
• Bathroom counters need to be replaced $$500
• Landscape needs to be updated and refreshed $1100
• Front door needs to be replaced $350
• Kitchen appliances need to be replaced $1100
  

TOTAL REPAIR ESTIMATE: $15,000

NEED TO CLOSE IN 30 DAYS OR LESS

KEEP IN MIND THAT THESE PROPERTIES DID NOT INCLUDE A $700/mo RENTAL

You can reach me at 214-740-3069.

Hello, all.

I recently developed a new relationship that has connections to Investors with deep pockets that are looking for ways to invest, in anything.

Without going into too many details, these are professional athletes looking to invest without being involved. Silent Investors, if you will.

I've recently been reading a lot about wholesaling and was almost ready to jump in, head first. This has thrown a curve ball my way though, because I'm not quite sure what we can do. 

I'm thinking about going the wholesale route but rather than assigning the contract, actually keeping the property and rehabbing it. 

What would you guys do if you ran into a situation where you had access to lots and lots of capital but had never done any kind of real estate deals?

Thanks in advance!

P.s.

I would be open to discussing partnerships if someone has any ideas.

Hello, all.

I've been reading a lot about wholesaling and listening to various podcasts/YouTube videos in order to get as much exposure from various sources as possible and then compile a way forward for me to get started.

I recently found Sean Terry's videos on YouTube which I enjoyed a lot. I did a quick search here and found that he is highly regarded in the BP community, which made me feel even more comfortable with his advice/teachings.

One of the things I am struggling with is understanding how to get out of a wholesale/assignment contract if I am unable to find a buyer. My plan is to build a list of a few buyers first and then go find deals, but I would still like to understand how I can get out of a contract. At approximately the 28th minute of this video (https://youtu.be/3ZnHCCmUmJM) Sean mentions that you can tell your seller that you need to cancel the contract. I've downloaded his contracts from www.flip2freedom.com/freestuff but don't see a clause fo cancellation. 

Am I missing something? How do you guys typically go about building in a cancel clause into your contracts?

Thanks in advance - any help is greatly appreciated!