All Forum Posts by: Mark Denning

I appreciate the support and comments 

Just looking for some feedback? I have an offer on a house. It is a duplex I would be financing, however I just got the home inspectors report back and there are some things on that report listed as defective that make me concerned. Such as some large trees that over hang the house, some siding around the windows and a slate roof that the inspector recommends be replaced. The seller is most likely unwilling to lower the price or make these repairs. Since these needed repairs may affect my financing, I'm looking for some advice on how to possible proceed? Time is of the essence !?!

Just looking for some feedback? I have an offer on a house. It is a duplex I would be financing, however I just got the home inspectors report back and there are some things on that report listed as defective that make me concerned. Such as some large trees that over hang the house, some siding around the windows and a slate roof that the inspector recommends be replaced. The seller is most likely unwilling to lower the price or make these repairs. Since these needed repairs may affect my financing, I'm looking for some advice on how to possible proceed? Time is of the essence !?!

Thanks that's a start !!!

I'm still new in real estate investing so I'm looking for advice on a potential deal. Luckily my marketing is paying off and I have friends bringing me potential deals. Here is the situation. A seller who wants to get out of her home called me. She has a home equity loan of $56,000 and no other leans on the property. She is only 2 months behind in payments but wants out of the area asap. My first question being that it's only a home equity loan will the bank even consider a short sale? Also this home currently is a 2 story duplex but each unit only has 1 BR. To make it more appealing to potential buyers after the rehab the property should probably be converted to a single family 3 BR, 2 Bath home. The ARV value with comps and the neighborhood should put this home at around $100,000.

With that said any advice on how one should proceed on this potential opportunity ???

I'm still new in real estate investing so I'm looking for advice on a potential deal. Luckily my marketing is paying off and I have friends bringing me potential deals. Here is the situation. A seller who wants to get out of her home called me. She has a home equity loan of $56,000 and no other leans on the property. She is only 2 months behind in payments but wants out of the area asap. My first question being that it's only a home equity loan will the bank even consider a short sale? Also this home currently is a 2 story duplex but each unit only has 1 BR. To make it more appealing to potential buyers after the rehab the property should probably be converted to a single family 3 BR, 2 Bath home. The ARV value with comps and the neighborhood should put this home at around $100,000.

With that said any advice on how one should proceed on this potential opportunity ???

I'm still new to real estate investing. I'm looking for wholesale deals.  One particular property I located recently is listed for a great price however a realestate agent is representing the bank who owns the property. I'm familiar with with putting an offer on the property and the potential purchase and sale contract. My question is this, will I still be able to asign the cobtract to another buyer or will the agent make it complicated?  Also the agent said they usually require proof of funds! How do I handle that objection being that I'm new and if I'm only selling my contact to another buyer ???  

Look forward to networking down the line

Let me know if you would like to network

I'm new here, still learning and appreciate the help that everyone in this form is sharing.  

To begin with if I'm doing a wholesale flip and assigning a contract any relevant or beneficial information to help me get through this process for the first time would be extremely helpful.  In just the past few weeks alone I've learned a lot but I still have so much more to learn. 

My primary question is this!  What is the most efficient way to complete the process of selling or transferring The purchase contract I have with the property seller to a potential buyer and do so correctly so I get paid on my wholesale transaction ???

In the Option to Purchase should I have some sort of exclusive clause so no other investors can infringe on my contract or is that essentially what the contract actually is?  

After I find a buyer Will there be another contract between myself and the buyer, or would that be the assignment contract ? 

Also In essence would the title company be the same or similar to having an attorney do the closing ? And finally, I was networking with a realtor friend of mine to help find some potential investors. If so any commission that he may want can that also  be paid by the buyers since I'm not having him do any thing for me except help me find potential investors ?

I appreciate the help !!!