All Forum Posts by: Joan Soto

@Chris Jackson YES! I'm definitely applying @Account Closed's Gold nugget!!

@John Vo Thank you for your input. I understand it is crucial to know what each investor wants and looks for in a deal. I believe I get the best education in these real-world interactions, which is why I came to this forum and asked for help. Your input is invaluable to me.

@John Thedford I appreciate your time. I hope we can all get along and I can continue to grow and learn without others making allegations and taking shots at me. I won't be a part of it. Thanks again for the advice, as well as the insults. Good day :)

YES thank you @Jason V. this is exactly what I wanted from this forum, comments like yours and John's, where he laid out some laws, and you gave me some insights on the deal. And yes, my wife and I talked about getting licensed. Now it's a matter of whether one of us gets it, or both. As far as wholesaling, I have found many people on BP who are successful, partly for being transparent with the sellers, and helping them figure out if this is the right option for them, and if not, being completely honest with them in letting them know their situation calls for other exits, maybe the seller is better off with a realtor. Maybe they're better off holding it for longer. Maybe they need a shortsale, or foreclose. But I also believe there are cases where, for different reasons, a wholesaler winds up being the best way out for a seller. If I don't believe that, then I wouldn't be here. When done the right way (just like anything), I truly believe there's a real need, morally and ethically, for wholesaling in RE, if not I wouldn't be here. And I believe it serves not only the sellers, and the buyers, but also the community. 

Ok that sounds great. I sure don't wanna unknowingly break the law! lol Thanks again! @John Thedford

@John Thedford thanks for your advice! How would you go about assigning your interest in a contract without breaking the law? And how do you present your offer to a seller and what kind of contract do you use?

no @John Thedford. Our intention was to close. We did not tell them that we we're not going to close. That doesn't make sense. I must've misread your question.

$105,500 Sorry I left that out @Tom S. 

@John Thedford yes, the contract had its contingencies and we abided by them. We let them know we couldn't help them in the end, and they understood. I still have some hope to make this work for them, as well as for me, even if it means finding them a realtor if nothing else works. We're all in this for profit, but I want to do it by solving ppl's problems first, not just mine.

@John Thedford we let the owners know that we tried, and weren't able to help them. But the contract is still there and I just want to know what went wrong. Maybe nothing was wrong, and I just didn't have the right cash buyers for this deal, @Terrance Clark. 

Please be brutally honest! lol.

Here's more info on it (I copied and pasted it from a facebook group where I posted it)...

"Price: $105,500. Nice Townhouse located in North Miami with 2 beds/ 2 bathrooms, 1,200 sq. feet. has been well kept, has an updated kitchen, and well kept bathrooms. Rental comps show an avg of $1,450 per month in rent. Only minor cosmetics such as paint and tile work will be required to make this one ready for rent.
Address: 263 NE 141st St. #5-B
HOA dues are $250 monthly. Owner will be out at closing. $3,500 non-refundable deposit required to lock this one up and buyer pays all closing costs.

Must close by August 15, 2016. Cash or hard money. Contact us for showing instructions. Do not disturb tenants. 

Buyers are required and should always do their own due diligence."

Pics are too big to post them all, lol, but here are some...