All Forum Posts by: Johnneice Ferguson

Welcome to BP. I am new to wholesaling as well. There is allot of info here though. You can educate yourself by reading the forums and asking questions.

Good luck

Philip, I plan on wholesaling this property. What zoning issues should I be looking for?

I currently have a lead that I am working on. There are two properties on one lot. The main property is a 2bd, 1ba and the other house is a 1 bd 1 ba. The owner got the property from a tax sale. The owner stated that she had to purchase both the properties together. She decided not to flip it because she realized that the smaller property was not wired for electricity and did not have its own sewer or water wich was run from the main house. I'm really not sure what to look at for comps since this property has 2 houses on one lot. The arv for the main house is around $40k and needs 15k in repairs. The second house needs about 10 in repairs. The seller was asking $26k but went down to $23k because there are two houses. So what should I be looking at for comps? Any advice is appreciated.

Try Torok Law Land Title. They are investor friemdly and also handle assignment contracts.

Jon, I'm not sure if the will got through probate, I'll definately need to ask the seller this. The property is in the lower income part of San antonio. It was a 3bd 1 ba. but the seller took down a wall to make kitchen larger taking away one bedroom. So as it stands it is a 2bd 1 ba.

Thanks Will, I know I'll have to get the buyer down quite a bit to make this work. Hopefully it works out. This home could rent for about $500 a month. So if I can't get the seller down enough for an investor to fix and flip then hopefully I can get the purchase price down low enough for a buyer to want to buy and hold. I'll follow up on how everything goes.

Jon Holdman, thank you so much for responding. There is a will the seller just never got the property put in her name. It's good to hear that the will issue can be sorted out with the title company. Now I just need to get the seller to accept offer below $25k.

I"m working on my first wholesale deal and had some questions. I found a seller that wants to move into another home using the money from the sale of her home as a down payment. The house was willed to her by her mother who passed away over 4 years ago. The thing is seller never got the property put in her name. Is this something that can be resolved at closing or should I not work this deal due to the property still being in her deceased mothers name? Also the arv on the home is about $60k seller wants $40 but will except less. The home needs about $15k in repairs and I would like to make at least $3k on the deal. How should I work the formula to be good a deal for investors? And what sould my offer price be? Any help would be greatly appreciated.

Charles Morgan, thanks for the reply and your input. The seller said that she was going be charged $1500 to get her name on the property since 4 years had gone by since her mother passed and she didnt have the money to pay for it. I was so hoping this could work.

I"m working on my first wholesale deal and had some questions. I found a seller that wants to move into another home using the money from the sale of her home as a down payment. The house was willed to her by her mother who passed away over 4 years ago. The thing is seller never got the property put in her name. Is this something that can be resolved at closing or should I not work this deal due to the property still being in her deceased mothers name? Also the arv on the home is about $60k seller wants $40 but will except less. The home needs about $15k in repairs and I would like to make at least $3k on the deal. How should I work the formula to be good a deal for investors? And what sould my offer price be? Any help would be greatly appreciated.