All Forum Posts by: John Meza

Hello David, Search on this site. I see you are here for three years, and you're Pro. Your connections are in the industry. I would suggest start from within. Have a great day.

J. Meza

Thank you Zoran. I will mention it to my lawyer.

Hello Jay Hinrrichs, Zoran Stranoev and John Thedford. Thank you for your responses. I appreciate your insight on this issue. If anything, I might have to bring in a broker and make him/her an officer in my corp.

How are wholesalers dealing with the anti-wholesalers law in Illinois?

Thank you Sam.

My company is purchasing Notes and REO directly from banks. Since these are financial instruments and not real estate, would it be best to work with a business lawyer or a real estate lawyer? Your feedback is appreciated.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $60,000

Brick, single family residence. 3 bed room,1 bath room. 2 car garage. Under contract. Unfinished basement and unfinished attic. House is in average condition. Needs electrical updating. Selling below 50% of ARV. ARV Estimate is $230,000 -$250,000. Market Value is $84,000 to $143,000

What made you interested in investing in this type of deal?

It's a nice house in a nice looking neighborhood. The houses on the block show pride of ownership.

How did you find this deal and how did you negotiate it?

The lead was found by an aspiring investor who is looking for a break and found this property through word of mouth. The seller had two previous offers that never followed through. I asked what the offers were, and I went lower, and got my offer accepted.

How did you finance this deal?

The only money I injected was $100 deposit. it's under contract and I'm wholesaling it.

How did you add value to the deal?

There was no value added to the property.

Hello James, Interesting topic. I would like to J.V. with in closing on those pre-screened and qualifying only sales leads you get from your sales funnel. I would like to discuss the possibility of working together. I run a real estate business in Chicago. Your source for lead generation is vital for any business that thrives on leads.  

Charlie, What strategy are you going to use if you find a seller who is not using an agent?

Hello Andjaur,

Thank you for your service. Bad credit is not permanent. How much VA financing do you qualify for? Hold off on that Chapter 7. How much into the hole are you in? If you go that route, you will not be able to qualify for any loan for 7 years. Reply to my response and we can discuss an alternative, and fix your credit at the same time.

Best Regards, John Meza