All Forum Posts by: Jordin Boyd

I have posted about this property before trying to get an idea of weather it is a deal or not and the consensus was that it was not a deep enough discount before. Now the seller has contacted me again and I have renegotiated with them.

The house is in the 28277 zip code in Charlotte, NC right off of Rae Rd East Ballantyne area I think they call it. Its a nicer neighborhood than I have ever tried to negotiate a deal in which is why Im not sure about it. Arv is $240,000 conservatively. Highest comp in the area was $266K. Lowest was $225K. It needs about $20K in repairs (cosmetic stuff). The more expensive things are in good shape, new roof, new ac unit, good hw heater. Its a 4x2 no garage. I would assign it to a flipper for $185K. 

If this sounds like a good deal to anyone, please message me and if it doesn't sound like a deal then please comment and leave me your thoughts! I'm a new wholesaler and could always use the feedback.

Hey Brian,

Is her mailing address local? I would just drive to her mailing address and knock on her door. Tell her what you do and how you can help. Try to get the whole story. That would be way faster than sending her another letter. 

Is partial owner financing a thing? I would really like to buy a house for my family and I to live in (FHA loan) and then move out of in a year or two and hold onto it as a rental. The property has 2x2 separate house in the back for additional income and a large shop that could be rented out.

Anyway, my question is will the FHA give me a loan of $110K (Im already pre approved for this amount) on a property if I negotiate with the seller to finance the other $140K for me? How does that work? Or is it possible?

I have a property I'm trying to get under contract and Im not sure its a good enough deal to be able to wholesale. Here are the details. If anyone is interested please message me and we can talk about it. 

The house is in the 28277 zip code in Charlotte, NC. Its a nicer neighborhood than I have ever tried to negotiate a deal in which is why Im not sure about it. Arv is $230,000 conservatively. Highest comp in the area was $266K. Lowest was $225K. It needs about $20K in repairs (carpet/flooring, int. paint and some drywall patches, int. doors and trim, misc lights and hardware updating, ext. siding and fascia repair). The more expensive things are in good shape, new roof, new ac unit, good hw heater. Its a 4x2 no garage. I could have it under contract today for $198,000 but I want to get it for $155,000. Does anyone know this area? Am I digging too deep? Should I get it under contract for $198K? Would anyone buy the contract from me at that price?

Thanks all you Charlotte experts!

Thats awesome. Thank you! @Don Harris. If you are doing any of these in the charlotte area I would love to help out! Just to see how it works.

@Don Harris, please define "Knock down, Pop top."

Thanks! Thats a new term to me.

Wholesalers in Charlotte NC area. I've been sending direct mail out to find deals to wholesale around here and had almost 0 calls. I was sending 100 letters per week for a couple of months and have since reduced it to about 100 per month since I didn't see ANY calls even after sending out tons of mail. Who wants to share their secretes? What are we doing around here to generate lots of leads?

Yellow letters?

Post cards?

Door knocking?

CL ads?

All good advice. Thanks everyone!

Great stuff. Thanks everyone! Yeah I was just checking the two separate contracts (lease contract and option to purchase) and neither says anything about the a certain portion of the rent going toward the purchase price. But I did tell them that would be the case and I sent them an email with that bit clearly stated so, I think what I will do is update the dates on the original contracts and have everyone initial but also update the sale amount to reflect the amount that has been going toward the purchase price each month for the two year term. Then I will confirm with them again just through email that there will no longer be any amount toward the purchase price under the new agreement. That way I honor what I told them I would do even though it wasn't in the contracts and then we are clear moving forward that no more monthly amount is going toward sale price.@Priscilla Z. @Brent Coombs.@Account Closed Does that all sound about right? Thanks so much for your input!

Nice. Ok. Thanks @Account Closed Now what if I want to use this as an opportunity to renegotiate some aspects of the contract. For example, I won't be making much off the final sale as it is because I still owe quite a bit on the property myself so I'm thinking this would be a good time to change the amount that goes toward the purchase price each month. Any foreseeable issues with renegotiating that?