All Forum Posts by: Myriam Jacques

Hello all,

Here is my situation. I found a wholesaler who's selling a duplex that needs to be rehabbed for 75k. The property will need about 25-30k in repairs, and I am ok with the numbers. My situation is this the wholesaler is closing on the property on 9/15/09, he said we need to submit a contract with a non refundable deposit of 5k. What gaurantee do I have that he will close? Why shpuld my deposit be Non refundable? Can I ask to see his contract with the seller?
I need as much help as possible on this.
Many Thanks,
Myriam

Hello All,

I am new to this site and to the world of investing. I am located in
in South Florida. Both my husband and I have been in the Morgage business for a long time,but we never invested in any properties for our selves( we have helped many of our clients purchase rehab and flip investment properties) .
We have been researching our markets for months, we have funds to purchase cash, but we have not been able to get a dal going as of yet. We keep submitting contracts and nothing has come thru. I know it takes time before one finds the right deal , but this morning a realtor crushed my entire business plan.She advised me that rahabbing and selling theproperties will but a waste of my time and money.
I would like to know if their are investors in the Broward/Dade and Palm Beach County areas that are rehabbing and selling their properties.
I would really appreciate as much help as possible.

Mna hanx,
Myriam