All Forum Posts by: Lisa Kohl

You'll most likely need to close the deal with cash first then close with the end buyer. Transactional funding could help but it comes with points, fees etc. 

If there is a way to possibly assign the contract to the end buyer to could be an option too. Doing a double close with "traditional" financing is risky. Best practice is to have a cash buyer. 

Depends on how you will receive your proceeds. Once everything is funded and recorded the title company will cut you a check or they can usually wire the funds into your account. 

Idaho- The title company performs title search. They issue title insurance and close the transaction.

Finishes will vary depending on where you are at. In my neck of the woods, the real dark espresso cabinets were in for awhile and now we are seeing painted whites and greys in all different price points. Lowes carries an in stock white shaker cabinet here that looks nice. It also depends on the type of kitchen space you have to work with as well. You could also check out what other rehabs are producing in your area and use that as a guide. 

loopnet.com- info is limited without paid subscription. They have available properties nationwide.

Having a RE license can be beneficial but in most states it can be costly in regards to monthly, yearly fees etc. I would say if you plan on buying and selling a lot of your own properties then yes it would be worth having. If you'll be purchasing a property or so a year I would team up with an experienced investor friendly agent to get your deals done. 

A great listing agent is worth their weight in gold if they know what they're doing. Properties can sell for higher amounts, get maximum exposure and sell faster. A lot of the flat fee services nickel and dime you to death and in the end you're the one doing all the legwork for negotiating offers etc. Some listing agents can negotiate their commissions and will do so if there is repeat business to be had. 

@Chad Clanton competitive market here. Inventory is rather slim but investors are still purchasing property here. Rents are up and our vacancy rates are extremely low especially in SFR.

In some areas of the country you can subscribe to a data service that can provide you with that information based on what county you are looking for. There's one here in my area. Aside from that, check with your county recorder to see how you would be able to gather that information. 

It's always wise to know how you'll be paying for the property in advance. In my area most of the selling agents and/or banks want proof of funds or a loan pre-approval to accompany the initial offer before they will even consider reviewing it.

Usually in a traditional sale the buyer will have a certain amount of time that's spelled out in the purchase & sale agreement to conduct an inspection on the property. Whether you choose to hire someone or conduct the inspection yourself is your choice however I strongly recommend having a reputable inspector or contractor help you out on your first few deals.