All Forum Posts by: Account Closed

Great property in Broken Arrow, good location and ready for a buyer. Here are the details:

Price: $78K

AMV: $110K-$115K

Foundation Repair: $4.5K (have quote and description)

Standard Repairs and upgrades: $5-$7K (paints, carpet, faucets, door handles, etc)

Closing Costs: $1.5

Total: $91K

Potential Profit: $19-$21K.

Please call 918-519-9227 at your earliest convenience. If seller is unable to find a buyer by the end of the upcoming week, he will be holding onto the property. 

Karen,

Curious as to how this turned out?

Thank you Kyle, I appreciate the clear and quick responses.

I have sent you a PM request as well, if you wouldn't mind sending over your 1 page contract that would be great.

Any other resources you might have that help clarify the process and provide insight, I am all ears.

Todd,

Thank you for the quick response. I have a few beginner questions for you if you don't mind:

1) Line 1 "Legal Description" - What is typically included here?

2) Who do I write my earnest money check to once the seller has accepted?

4) As far as repairs, a wholesaler isn't going to ask a seller to make repairs but rather factor that into the total when pitching to investors, correct?

5) Line 10A "Buyers Expense" - Which is normally chosen here in a typical wholesale deal...Attorney's Title Opinion or Commitment for issuance of a Title Insurance Policy?

6) How many days do you typically delay closing?

7) Line 12 - What is the best choice for the Residential Service Agreement or does it depend on the property?

Thanks for the patience and guidance.

You then provide the purchase agreement contract, correct? I am in Oklahoma and was wondering if anyone can pass along a commonly used contract that covers all the bases when purchasing a property to wholesale.

I have made a few contacts that have buyers ready and trust in my marketing abilities that I can get the deal done, but not quite confident in getting the process started.

Hello,

For the past few years I have been searching for a way to provide for my family and earn supplemental income. I currently work a decently paying 8-5 job and my wife is a stay at home mom with our one year old daughter. We also have another baby on the way, which has prompted me to take action and go after my dreams of financial freedom. Our main priority in life is to provide for our children and make this life available to them. With that said, my wife and I are strapped by our student loans which have made our financial position tougher than we would prefer. I am eager to learn as much about real estate wholesaling as I can, as I truly believe this is the path for me.

Please send any information my way to help me get started!

Sincerely,

Matthew Wood