All Forum Posts by: Jorge Caicedo

Talking to a seller who replied to one of my ads. Basically he needs to sell due to relocation and the numbers work as follows; The prop. has a $130k 1st mtg and a $65k second. It was appraised for $260k. I'm looking to wholesale it @ $209 for a $51k fee. I need to know how this is doable before I put it under contract. I have buyers ready....

Phil, I like the lines. Actually, I think I'll stick w/ the rehabs a bit longer since they're so plentiful here. If anyone reading this is interested in property here, please let me know.

Phil, thanks for the reply. I just posted a few ads to get more buyers in fact. From what I've experienced, a lot of buyers here tend to be a bit tight w/ their money and the homes here w/an ARV of $500k on up are tied up by Realtors. That's why when I read of someone making $30k+ on an assignment, I'm like :shock: lol! Maybe you know something I don't? If so, do tell. Thank you...

In fact, I'm getting ready to put a deal under contract this week, thank you very much and to top it off, our rehab crew can complete a gutted home in just under 30 days, so yes, I know what's up.

Mr Connery, while I appreciate the (sarcastic?)recommendations, I know how to wholesale and I know rehabbing, however, when wholesaling rehabs, you're limited as far as assignment fees are concerned. I guess what I'm trying to figure out is how people make $30-40+k on assignment fees instead of the usual $5-10k

Wheatie, that's close but I was thinking of purchasing it for the $30k equity and then if the ARV is $100k, discount it to $80k and assign the contract to the buyer for $80k for a $50k assignment fee. Is this doable, I ask b/c that's the only way I can see people making 5 digit figures on assignment fees, of course I'm sure it can be done w/ bankruptcies as well. Your advice on this is appreciated.

I posted this in another forum, hopefully someone knows. Can a pre-foreclosure be assigned and, if so, is the equity in the home the amt you put it under contract for? If so, do you assign it to the end buyer @ FMV or 20% below that. I ask b/c I'm negotiaiting w/a seller in this situation. HELP!

guess nobody knows

When trying to wholesale a pre-foreclosure,is it possible to offer a seller who's in pre-foreclosure the equity in their home and then use that as the offer? If so, when the contract is assigned, what should the assignment fe be based on? Should it be based on the FMV of the house? I ask only b/c if there are people making $50k on up doing wholesaling, they must be doing a similar approach. Some sites allude to this so figured that's what they're doing. Any advice is appreciated

the only reason I haven't ordered it is b/c I don't wanna pay $50 for things I already know. I think if his site covered negotiaions a bit more, which could be in the book for all I know, then I'd definitely investigate it. I do have to admit that him calling my e-book a 'disservice' was cute, as if he's the god of wholesaling or something....