All Forum Posts by: Mike Flora

I'm gonna wholesale the property. 

anybody know of any probate websites that kind locate probate property info in your buying area?? Or is the county courthouse the best way to go for this info?

when doing a wholesale, either assigning or double escrow, we have the option to choose 3.3% of the sales price or 12.3% of your profit. I don't have an LLC and this is the state of California. Anyone have any other info on wholesaling taxes at close of escrow etc? And what percent should I store away for the federal capital gains tax?? Is it 15% or more of my gains on the federal side? Seems like it might be different since the deed never is transferred into my name.

Can't seem to find the answer on this one!! Anyone know for sure that after you assume a VA loan and lender approves are you able to rent the property? I know you are not allowed to purchase a property with a VA loan and rent it immediately, but if you are assuming the loan I hope that rule would be nullified??? I know people do subject 2 and rent but not sure if a straight up assumed loan through the lender has a different rule about renting.

anyone familiar with the 55 and older communities for fix and flip?? How is the market for it for the resale?? I know whoever makes it there primary residence will need to be 55 and older so not sure how it affects doing a fix and flip. Longer holding time??? More risk?? But the city I live in has many desirable 55 and up communities people retire in. Thoughts??

When using a double escrow to flip can you use the same purchase agreement with your seller and buyer in escrow??? Or should I use a different form for that? 

if anyone knows of any cash buyers out in menifee area in riverside county let me know!

thank you that's exactly what I needed to know.

Thanks everyone!! I'm new and just want to have a good idea of costs before I talk to a seller and get the contract signed. I feel it gives me more leverage when negotiating and knowing what I can and can't afford.