All Forum Posts by: Account Closed

Hi,

Lame question... I read on some threads about a service used to market on craigslist, where people can sign up for your newsletters/ deals.

I signed up and even used it, but I can't remember the name of the site! I've googled it and tried to search the threads here again, and I can't figure it out. it was something like wahoo, whiz, I swear it had a "w" in it...

anyway, if you can think of it, I'd appreciate it!

My parents have one, and they live in the desert where you definitely don't need it- but they use it all the time. awesome feature.

Doesn't work with my current investments but I always thought that if I were to rehab and flip a nice house, I'd put in a built-in cappucino machine. Maybe its just me, but that would definitely get my attention.

Thanks Steve, that sounds like a good idea.
Still wondering if I'm allowed to market this property if all we have is a "non-binding" LOI.

Thanks Don for your reply. I guess in dealing with banks, from my (limited) experience, I've learned not to put and/or assigned and have accepted the fact that with reo's/short sales, I'd have to do the double close. I guess my question was mainly, is an accepted LOI enough to have equtiable title? or do we have to have a signed purchase agreement? In this case the seller would not be aware of the wholesale.

A seller just countered my offer (just a tad above my offer, and I'm ok with their price as I totally low-balled it) on an apartment building "with bank approval".

Normally, I know that when you have a property under contract you have the right to market it, but how does it work in commercial? If we agree on the LOI, I don't believe that I have equitable title until we sign a PA?

I'm actually considering keeping this property, but was just wondering how wholesaling this would work as an option.

oh and ps. in the LOI, I originally wrote that we would use a "mutually agreed upon title agency," but do you think that in my counter, I could/should cross it out and put a closing company I know would do a double closing? Just in case, even if I don't go through with it?

Someone I know is looking to invest in a mobile home park, and after reading these threads, I asked them about the sewage system, and the three parks they were looking at were all private water/ well/ or lagoon. Is it that big of a problem? Can you change it to be city water?

Sorry, a follow up to my question :)

Sharon, in your case where you are allowed to fund A-B with B-C, the B-C is signed first, but it wouldn't be that way with A-B (transactional funding) then B-C, or would it?

Hmmm that link didn't work let me try again:
http://www.bbb.org/us/article/546

On Craigslist, I saw a link in bold which led to this article:
[url] . The Link was titled "Foreclosure Help Scams" (or something similar).

How do you prevent the stigma of REI being scammers?
How do you prove that you're honest?

Obviously, there are scammers out there. and obviously, an honest investor would probably not tell you to stay away from your lawyer. However, I do think for many people, its hard to tell who's who. The scenario described in the article is obviously a scam, and if someone reads this and is approached with a subject to or a lease-option, it may raise a mental red flag.

Just wondering how wholesalers deal with this issue...

Now, if you were to do a back to back close, funded by your own money (or transactional funding), are you taking a risk that the b to c will not close?