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All Forum Posts by: Gary Hazard

Gary Hazard has started 5 posts and replied 29 times.

Post: Putting houses under contract but the seller is already working with a realtor

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

ok so most likely I wont be able to help them out out. Only if they take it off the market. right?

Post: Wholesaling houses with mortgages.

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

@Stinson That smart and very thoughtful of the homeowner to think about putting cash in there pocket. Im going to use that strategy.

Post: Wholesaling houses with mortgages.

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

Well I see alot of vacant houses in my area. arv are about 125k to 225k. So if I get a seller, I just dont want to say, oh I cant help you because you have an outstanding mortgage. I would like to know how to structure the deal. Thats all. To Stinson, Chris, and Manny, thank you very much for your input. If the arv is worth 150,000, they owe 40,000, how would you structure that deal? And what would you sell it for?

Post: Wholesaling houses with mortgages.

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

@stinson Whats confusing me is that when we say i buy houses cash, I'm thinking we pay them something for the house even if they have a mortgage. It sounds like to me we're gonna pay your mortgage off OR we gonna take the house off you hands and you just pay some of the mortgage. Now do most sellers normally owe more than the house is worth?

Post: Do I need a LLC to begin wholesaling?

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

Thank you Michael. So all I need to is just put my name in the contract? Now I have a couple of contracts, and i dont know which one to use because i dont understand them. Some are from the Maryland are others are from different wholesalers that created their own. If you can send me one and explain it to me, it'll be greatly appreciated.

Post: Do I need a LLC to begin wholesaling?

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

Really wow!!!! Thank you very much!!!! Now, when I start wholesaling deals, is it best to get a LLC? What are the advantages?

Post: Wholesaling houses with mortgages.

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

My last question of the day. If a house has a mortgage on it regardless if its paid or unpaid, how do I negotiate a deal? I dont understand what happens to the mortgage. Who pays the mortgage? Does it get paid? Can someone please give me a scenario of how to deal with a house that has a mortgage, paid and unpaid? Please help me out with this mind boggling question. Thank you.

Post: Putting houses under contract but the seller is already working with a realtor

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

I have a another quick question. I have two people that need to sell there house but they are working with a realtor. Is it possible for me to put them into a contract? What do I need to do? Thank you

Post: Do I need a LLC to begin wholesaling?

Gary HazardPosted
  • Real Estate Investor
  • Williamstown, NJ
  • Posts 29
  • Votes 5

Hello, my name is Gary Hazard. This is my first post. I'm a starting out newbie investor from the south jersey area. I have tons of questions but I'll just start out with one. Do I need a LLC to start wholesaling? A friend of mine said never use my name for tax reasons but I dont have the money for a LLC. What do I do?????? Please respond!!! Thank you