All Forum Posts by: Account Closed

Holy Cow. I appreciate the help from everyone, but I may have misused some wording here that has caused some confusion. There is much more details to the situation then what I wrote to the finalizing the price on the property. The details are not important but I would never want to "rip" off a friend. When I look back falling on hard times was a bad use of that wording there. I am just simply looking for advice on what I should do with it. I never want my integrity or intentions to be questioned, as if I am a bad person. I will be more cautious in the future and stick to general questions rather then specific things...

@George Munoz great ideas thanks!

@Lydia R. Thanks for the reply!

1. No the house will not be occupied in June that is why I am purchasing it then. Another reason why I am waiting because they are not paying market rent. 

2. No repairs at the moment needed to the property, minimal stuff like paint and touch-ups. 

3. Comps in the area allow at least a sell of 100K, but will need to get a detailed number. I was just wondering if 25K is to much to ask. You've answered that question, and I am just going to buy it and flip it. 

4. I currently manage the property for a friend, they have hit hard times and I made them an offer and they took it. That is why I know that it is not distressed. 

I appreciate it, you've made it clear that to get what I want I am going to need to buy it and sell it. Thanks.

@Barry Pekin I do have until June. I am new to the wholesale side. What is step one to find an investor? Sending out a bunch of emails? Or is there a website for this sort of thing?

Thanks

Jared

I have a unique situation that I need some help! I am under contract to buy a 3 bedroom house for 65K in June. I know Zillow isn't the best but ] Zillow states the value is 106K at the moment. This is a house that I am familiar with and has tenants in it currently. It is not a distressed home it is a decent rental. I would like to wholesale the house, because I want to buy another rental in a different city that I currently have one rental at. Let me know if my numbers are crazy, but I would like to make 25K off the assignment of contract. Where do I start to find a buyer? I appreciate the help!

Sorry  I don't know how to edit it, but I meant mold in the title not mols.

I recently bought a rental property. The city inspector showed up to put power on the property and stated the house was shut down in 2016 for a mold issue. I talked to the realtor that sold the property and he stated he did not know anything about it, and it was not on any disclaimers for the house at purchase. I have not seen any mold and I know why there potentially could have been mold. Rain water is flowing under the house into the crawl space. Is this something worth looking into on a legal side, or not worth my trouble and just fix it and move on? I have not contacted the city to verify if the previous owner signed any paperwork knowing that there was a mold issue. I wanted to ask a question first before I start digging into the weeds to much.

@Eric Michaels

Great point. General census seems to be not to share bid prices. More expensive is not always better and the cheapest may not be the best. It seems to be a case by case issue. Not standard across the board.

@David Robertson

I didn’t mean to do it intentionally, thanks for the advice I won’t make a habit of it!

@Kaleb Gilgan

Family has used both contractors and it’s a small town. It’s a tough situation. The first guy used to work for the second guy. The first HVAC contractor is a small mom and pop business, where the second HVAC contractor is a much larger business. I want to use the 1st guy if possible, he is a family friend. Having said that though I don’t have an open ended budget either. Both contractors do great work. I did what your saying by leveraging the bids to try to get the bigger company (2nd guy) to bring their price down. I just didn’t mean to release sensitive information. This is my first go at it and didn’t want to break any cardinal rules already.