All Forum Posts by: Lily Rodriguez

This is great information specially for people that want to invest in real estate but only have limited resources. 

Another way to be able to get access this apportunity it's with OPP (othe people's money) either personal credit or business credit when you know how to set up the credit profile properly you can access up to 250k in credit alone. 

If you want to know more information about it I am preparing a video for my investor clients. I don't mind sharing the link once i have it completed.

Shane,

It's awesome that you want to use your previous agent for the land purchase.

Here is three ways to find the agent's name.

1. In the HUD statement should state the agent's name under the seller's expenses.

2. Look up the address on zillow and see if you can find the history on the property. It should list the listing agent at least and you can call the and ask if she can look up rge information.

3. Send me the address to see if i can look it up on the national database to see if i can find it.

 @Rafael Mercedes, depending on what your agreement is with the sellers. Otherwise the seller will be responsible for liens and judgements in the property. 

I'm sure that this has been posted here already. I just want to share the formula to new wholesalers because I have been getting deals that don't make sense for myself or my investor clients and in order for you to get a good wholesale deal to your Cash Buyers you need to know this formula. It does varies depending on your market.  For this example we will use 70% 

For this formula you will need to know the following:

ARV=After Repair Value ( How much will the house will sell for after making all the repairs needed)

Repair Estimate - (Send me a message and I can send you a list I got from my mentorship class for ball park estimates based on square footage and depending if you need cosmetic repairs, avarage repairs or Extreme repairs)

Your Assigment Fee

ARVx.70 - Repairs - Your Assignment FEE = Max Offer

Example

$200,000 x .70 = $140,000 - $30,000 (repairs) - $10,000 (your profit) = $100,000 (offer)

Your potential profit is $10,000 

I hope this formula helps you make offers that will make sense for all involved in the transaction.

Happy Wholesaling,

Lily Rodriguez - Investor friendly Broker

Yes, example will be: a lot that was zoned previously for SFH and has enough land to build a duplex or triplex and it's in the new UDO Zoning it's automaticly approved to be build according to the new Zoning guidelines.

This is heaven for RE developers and builders. Of course the current house will have to be a tear down but if you can fit a triplex that would be the highest and best use of the land. It's all about knowing the zoning ordinances and changes.