All Forum Posts by: James Vasquez

I recently did a little research on the House Buyers that started out in San Antonio, TX, years ago. It seems that they are still buying houses as investors, but they have shifted their business model into teaching/ guru courses/ bus trips. Now they are focusing their attention on other investors home buyers, not just in the san antonio area, but seemingly all over the U.S.

I hear that they charge quite a bit for their bus tours, and it's my personal opinon, being in the investing business, that courses, mentoring, and bus tours are not needed to become successful in the investor home buyer arena. There is such a wealth of information on the Biggerpockets website that anyone that there is no excuse to not get out there and put some deals together.

Hello fellow BP members,

I've just negotiated a decent price on a property that I plan to wholesale, however, the asset manager wants me to close in 1 &1/2 weeks and I don't feel comfortable setting a closing date this soon.

I have countered with a closing date at least 21 days from the date that we sign the contract. By then I should know if I can find an end buyer or not.

I do not want to buy if I don't have an end buyer lined up.

The asset manager wants to know why I need at least 21 days to close if it's a cash deal??? Any questions or advice on how you would respond?

Congrats...I just recently closed my first wholesale deal as well. Keep it going. San Antonio Homes for Sale?

Thanks Financexaminer, that really opened my eyes. Thank you for spending the time to explain it in simpler terms.

I can tell you know what you're talking about...can you answer one more piece to the puzzle?

How does your closing agent / attorney handle sending the hard money lender the title commitment for the B to C part of the deal if the first deal hasn't closed/funded yet? The lender will require clear title, but because the A to B deal hasn't funded yet, everyone will be waiting on a signed and filed copy of the deed for the B to C? Am I missing something here? Thanks for any advice.

J Scott, can you clarify on your response? Are you saying that the closing attorney will allow for the property to be transferred once the HUD is signed by all parties, but without the deed having been signed by the seller yet? I'd like to think that this is true, but I just can't see this happening. If this is true, then this could solve my problem. I would really appreciate your response on this.

Thanks Chris, I've seen those as well...However, I'm curious if other investors have demanded that the seller sign their docs first. Has anyone had to do that?

Hello,

This question is probably for those investors in the forum who have completed a wholesale deal or two with bank owned properties. I ran into a situation were the seller (US Bank NA) didn't want to sign the closing docs & deed until I closed my end first. This meant that I couldn't use transactional funding, because they typically only fund for a day and it took 3-4 days to get a signed deed back from the seller who was out of state.

Has anyone ever encountered this roadblock? If so, what did you do to get through it? Any advice is greatly appreciated?