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All Forum Posts by: Maurice Smith

Maurice Smith has started 2 posts and replied 89 times.

Post: Baltimore Lien Relief Program

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

Has any one had any success helping a seller get tax lien relief in the past or negotiated with the city to get the amount of tax liens on a property reduced? I am trying to open up more room on a deal. Well it's a screaming deal if we can get the tax liens reduced or removed.

Post: Assignment or Double Close

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134
Quote from @Jason Thompson:
Quote from @Doug Smith:

You can usually get a less experienced agent or a FSBO to take an assignment, but if someone came to us on one of our properties wanting to check that box, we would tell them to pound sand. Also, good agents aren't stupid. The agents in our real estate arm tell me they get the same calls using the same wholesaler guru scripts every day. They would much rather have someone be honest and up front with them that to try to pretend that they are an end buyer. Trust me...they can smell it immediately. The other issue you might run into is licensing. Many regulators are considering assignments to be unlicensed real estate activity where, if you are doing a double close, you're taking title...albeit for 30 seconds...to the property and that's not going to usually require a license. Good luck to you in your new venture.

 @Doug Smith thank you for the advice Doug. Would you happen to know if NC falls into the category of potential licensing issues or is this state good to go for double closes etc. ? Thanks Doug. 

@Jason Thompson The answer is no. NC is one of our markets. We do a combination of deals, mostly off-market (as it should be), but occasionally on-market as well. There are definitely agents that will work with you and you don't need to be untruthful as was implied earlier. You can be upfront and network to add value to all parties. You'll definitely want to engage with folks in the REIAs so that you are exposed to agents that are comfortable and find value in working with you. I'd also find a few good RE attorneys in NC that can close your deals. They can also answer any of your questions about legalities in NC. Send me a message and let's chat further.

Post: Looking for wholesale mentor

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

@Cayetano Morin send me a message. What market are you in or planning to begin with?

Post: Off-Market Contract Available | Atlanta Fix and Flip | 75% of ARV

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

We have an off-market deal available for acquisition in Atlanta, Georgia 30331.

SFR 2 Bd, 1 Ba, 975 SqFt

ARV: $240,000

Estimated Rehab: $50,000

Rental Opportunity: $1,400

Asking: $130,000 or BEST OFFER

All offers must be received by June 2nd.

*Cash Buyers Only*

For more information and pictures contact Maurice @ 770-515-9850 or email [email protected]

Post: Wholesalers in North Carolina

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

@Jacob Mallat Please reach out to me. Let's connect and have further conversation.

Post: Looking to Shadow/Help Investors, Can Help with Creative Content

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

@Casby Bias are you still looking for an investment property? I will send you a connection request.

Post: First Wholesaling Deal - What is Next?

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

@Latoya Pryor The HUD-1 is a closing document that is completed by the Closing Attorney or Title company. It discloses where all monies are paid/distributed during the real estate closing. Most often you will receive one, but you can also request it, if for some reason you don't.

Post: Trying to get started in Wholesaling

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

@Michael K Gallagher Concur, Dayton is a really good market. Would you be interetsed in connecting and discussing the Dayton market more? 

Post: Investing in Ohio long distance

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

@Remi Oguntoye we have started to build some solid connections in OH. Most importantly, I have some very solid buyers that makes decisions very quickly. Would appreciate connecting.

Post: How to word a Purchase Contract for wholesaling

Maurice SmithPosted
  • Wholesaler
  • Richmond, VA
  • Posts 99
  • Votes 134

Good evening  @Shadae Ohiagu. I think it is commendable that you don't want to tie up the seller's property for too long. That said, what you are describing is called "specific performance." It is advisable that you use a contract that provides clear disclosures about what you are doing, or may do, with regard to assignments, the intention to market your equitable interest, and make a profit.

That said, it is also important that you get a contract developed by a RE attorney or if you use one that is shared with you, have it reviewed by a RE attorney in your State. Happy to share one of ours as an exemplar.