All Forum Posts by: Jonathan Batson

Thanks Ron.  I have my sister for eyes on the ground and she has been managing jobs for a while.  I appreciate your concern and it is noted.

Do you have any specifics to your words of caution (banker, contractor, etc) or are you just trying to say EVERYONE will screw me?

Hey BP! I am looking at flipping a couple houses a year in the Broward County area. I am starting to have a team in place including banker, contractor, interior designer / manager (sister) and insurance agent. I'm using a HELOC on my current residence to purchase the home and make renovations. I plan to acquire leads from wholesalers and RE agents. I am on a couple wholesalers mailing lists but I don't know of any good RE agents in the area. The one I am currently using took 6 days to get back to me with comps, so I am assuming she is not going to be dedicated to my needs. Does anyone have any advice on a good RE agent in the area?

Another way to not be so reliant on the RE agent would be to find a good way to find comparable homes in the area.  In Denver we have plenty of websites where typing in an address will supply recently sold properties and am curious if south florida has the same type of websites?  Does anyone have an idea how to get reliable comps in the Broward County area?

Any  help is appreciated!!

Thanks,

- Jonathan 

Thanks for the clarification Bill.

@Shari Peterson

I planned on doing a double closing so I could just use the standard state contract.  All suggestions or input are welcome though.

Thanks for the input Bill.  I will be using the standard state contracts.

Thanks for the explanation Justin.

Thanks guys.  I will look into a title company and / or attorney to review my options.

I am in the process of building a system to generate consistent leads for purchasing buy and hold real estate across the Denver metro area. At the time I will not be able to act on more vested ventures such as, Flipping or the BRRRR strategy, due to having a baby coming in late January. Due to this I plan on wholesaling any promising leads that I come across.

In order to do so I need to find a standard contract that will allow me to do a double close.  All comments, suggestions and ideas are welcome, thanks!

@Justin Silverio

If my contract states "clear and marketable title" I would assume that the person or entity that put the lien on the property would not forgive the debt they are owed.  When you say fall out, what are you implying?

Also, do you edit your state's contract when purchasing a property in pre-foreclosure to state the "clear and marketable title" clause?

@Timothy Greene

Check out this post by J. Scott where he describes how to calculate the maximum purchase price (MPP).  Read his book if you want a full road map for flipping houses.