All Forum Posts by: Jonathan W.

@Jerry Padilla

That would be for only freddie or fannie loans. Go with a local bank and you dont run into this issue.

@Tiana Pen

You will need at least 20% unless you can get the owner to finance.

@Aviv Berkovitch

You should be allocating 5% of rents for capex to cover these items. It could be more with older homes.

@Jeff Lappe

You need to state in your offer that you want the deposits to transfer. If you dont have it in your offer the owner does not have to give you any of it. This should not be assumed that it will be on the closing docs, because that is not true.

@Allan R.

Yes. Most are 6-12 months. Some small bank portfolio lenders might do sooner.

@Geoff Garber

Normal

This should be up to you inless it is a deal breakrr for him but i would vet the company.

Just depends on the deal

Any one own a golf course? How are the returns lately? What are some tax advantages you are taking? What parts have depreciation besides the building?

@Ian Kearns

Only keep if you can prove they turned it off. If they kept it at 40, that should be warm enough in the house. Your lease does not say they have to maintain a temp. What leg of your lease would hold up in court? I would say none.

@Anthony Gayden

His tax rate is not 37% on all that money. Your money is taxed at differant rates going up the tax bracket.

Why do so many new people want to wholesale to get started in real estate? Is it because all the guru's talk about it making it seem great. To me, it looks like it sucks. I would rater get a 2nd job at a good rate to make more money. This would allow me to invest in more properties.

I just want to know everyones reason behind it.

I currenty have a w2 job, 2 side jobs, and own 2 triplexes and looking for more. I am really looking hard at buying other businesses using SBA loans instead of RE right now. I also have a wife and 5 kids to keep up with.

Look foreward to the discussion.

Jon