All Forum Posts by: Karl Washington

Should I run title before or after finding a buyer? And if I have my contract contingent upon the title being clear, does that mean I can cance the deal even if they take longer than my inspection period to find out that it isn’t clear? Does this make sense? Lol 

Quote from @Eliott Elias:

Get an inspector to come out to give you more grounds to negotiate. If you're wholesaling this is the time you will have to assign the contract. 

I guess the whole 15 day inspection period seems like a tight time to have an inspector come out. I have no experience with this though clearly. Do you find that that's usually enough time to get an inspector to check it out and send over pictures?

Quote from @Bryant Brislin:

Here is our process:

-call sellers direct (we don't like to work MLS deals for various reasons)

-once we have spoken with the seller we attempt to get them to agree to us sending a local person (we have runners in every city we work) to go to take pictures and a short video

-once we have pics, we review and underwrite the property and then we make an offer.  If seller agrees to the offer, we send them a draft contract and we usually ask for an option period of 14 to 17 days.

-once the contract is signed, we open escrow/title.  We then start reaching out to our buyers to try to find the right match.  If it's a vacant house, we try to get seller to agree to a lockbox, and often times they only agree to it if we have our local person do all the work of buying it and setting it up.  Not every seller will agree to that, and if they have a bunch of personal belongings in the house, we may not want a lockbox situation. Sometimes you just have to arrange viewings with seller or whoever is giving access.

Thanks for the response, Bryant. When arranging viewings with the seller do you refer to your buyers as "partners" coming by to check it out?

Thanks,
Karl

So after you get a property under contract and you have, let's say, a 10 day inspection period.... what happens during that time? Do i get boots on the ground to take pictures then send those pics to my cash buyers or do i get the cash buyers to look at the property themselves? Either one? Do i need to ask the sellers agent to put a lockbox on the property? Just very unclear on this part of virtual wholesaling. Also what contingencies would be wise to tell the agent to include in the purchase and sale agreement?

Appreciate the help,

Karl

Quote from @Eric Greenberg:

Hi Karl,

What type of rehab/quality/size are you looking to accomplish? 

Looking for Light medium and full gut estimates.

Hello,

What are you all using for your price per square foot renovation estimates in Philadelphia?

Thank you!

-Karl

Hello, 

New to wholesaling and slowly learning but curious as to how to go about locking in properties virtually. How do you find boots ont he ground? My strategy is to target on market properties so can I just use the agent as my boots on the ground?

Thanks,
Karl

Hello,

Contemplating if Jamil Damji's Astroflipping course/community is worth it. It's pretty dang expensive at around 9,000. I assume it's not but just wondering from the point of view of someone who has actually done it.
 

Thank you

Hello,

wondering if you can't seem to find enough comps on a property what do you do? Do you just widen your search?

Thank you,

Karl

Hello new to wholesaling and just learning at this point. If for whatever reason I decided to cancel a contract, aside from loosing earnest money would I need to worry about anything else? Like getting sued even? 

Thanks for the help