All Forum Posts by: Justin Sellers

You are correct. In NC you can list a property on the MLS with only equitable interest (wholesale). They are able to assign their interest and hopefully, the assignee is a good buyer that is able to actually close on the property. In this case, you as the buyer would take the position of the previous buyer.

Hi everyone, when I'm making offers on listed properties and I use a buyers agent can I still assign my interest in a contract originated by an agency? I see certain MLS properties that are good deals but not good enough for me..can those be wholesaled?

Hey everyone, I'm looking to invest in South Carolina , but I'm having a problem locating an agent to help me with creating an auto search.

No particular area needed. I want to trigger a search when any "listed "property is found 80% under the average square footage cost of properties "sold" within the past 90 days.

I'll echo what others have stated, that's a small amount but there are several options and ways that will allow you to get a great return on your money. I think the best return isn't money for you at this time, but instead education.  There are tons of ways to invest your time into educating yourself, and each could require years to perfect.  

Do you want to work in this RE venture indirectly or directly? Directly is you put up the knowledge and/or time and indirectly is where you put up the money- basically you private invest into any deals you want.

We are all part of a game whether we like it or not, and in this game you have consumers, producers, and bankers.  The producer never wants to be the consumer and had rather work hard and take on greater risks.  The consumer is all about safety and security, and feels comfortable because of their job.  The banker doesn't necessarily have to have the capital, but they know where to find each of these two people in order to make their dreams come true.  We are all in the money printing business- real estate is just the front :)

Hi,

Can someone refer me to an investor-friendly bank?  As we know having a local bank that is familiar with our terms and what we do isn't easy.  

Can anyone refer an insurance company that is knowledgeable with how Sub-To acquisitions work and how the insurance policy needs to be created?

How do I deal with claims (example roof) where the first named insured (Buyer), lien holder 1, lien holder 2, My LLC, and the Seller are on a claims check? I have heard to mail the check to LH 1 first for endorsement, and then with my power of attorney from the Buyer go to the bank with the Seller where we both endorse the check and then I can disperse funds to the Buyer.

I know that by law I cannot make my Buyer go with a certain insurance carrier, but I can "suggest" and offer the needed policy on my addendum during the sale of the home.

Hi Elvis, yeah trust is important but as long as you can detail what it is you provide you'll be golden. Once you find a motivated seller (1) get the property under contract. Within the contract will be an inspection period, which allows you to shop/sell your equitable interest (contract) to an end buyer.  

That's the most important part, because if you have no buyers lined-up to buy- you'll never be able to assign your contract. I say never, but if the deal doesn't have enough spread (profit potential) for your buyer then you'll be wasting the Sellers time. Network now and find potential buyers- your product is homes, so find out what your buyers need for their %. I did this over a year ago and was doing it for 75% plus cost of repairs.  

I'm about to move to Jacksonville FL in a short bit and will be doing tons of marketing in that area. I'd love to JV with you in that area if you'd be interested? I'm providing the marketing and the property, but I would need a capital partner to provide for back payments, repairs, etc.

Thank you!  I have used Michelle before, and couldn't recall her name. I have also showed a deal to Yellowbird before as well so thanks.

I am looking to do a few personal deals in Jacksonville FL in which I will Finance the terms- can someone provide a knowledgeable RE Attorney that has done several deals?