All Forum Posts by: Account Closed

lol!
it USED to be notorious for drug dealing but now things have been 'cleaned up' since the arrival of the newly built police department a block away.
needless to say...the neighborhood doesnt look 'pretty' because no one has taken the time to reinvest back into it. in steps ME and a big dream of revitalizing it but i guess not everyone is on my flight path ;)

btw...do YOU want to pick up a duplex that has passed Section 8 and city inspections?? so is 'ready for occupancy' ;)
needs about 25k in repairs. 10k of that is a new roof. the other 15k is kitchens needing updating, baseboard heaters in downstairs apt need replacing and damage from leaking roof will need to be rectified in upstairs apartment. the rest is cosmetic work...

hey...never hurts to ask! lol

you need to go to your State Corporation Commission office of the clerk.
since all LLCs are registered, there is a database for that...
i was able to find addresses and owners (if not the owners then the 'guardians') and then did a reverse search though the online white pages.

good luck!
yes it was time consuming but the 'hunt' was rather fun :)

THAN YOU ALL for your input!
i havent been on this site much lately but i would like to reaffirm my LOVE for it and the people who make this forum *amazing*

even though it looks like i will have to back away from this deal (buyers are 'leery' of the neighborhood...WIMPS! lol) i am happy and comforted to know that you all are out their helping us newbies along!

as for you Virginians...please dont hesitate to contact me directly. i am always expanding my network and as well as looking for more buyers in the area.

cheers!

hey Keith!
i would love to be added to your network.

where did you live in Richmond? i went to VCU from 92-97
was just down there yesterday for a friends funeral in fact...

hey Mike!
please feel free to call me!

i am in fact a licensed REALTOR in Virginia and love working with other investors as i work on my own portfolio

cheers!

scheduled to close on first wholesale deal at the end of the week.
ive got my original contract ratified and am getting the assignment contract signed off by the buyer today.
my question is- other than getting the Amendment to the original contract stating that there will now be a new buyer going to close and having the Assignment Contract signed off by me and the end buyer...IS THERE ANYTHING IM MISSING HERE?? does the Title company record on the HUD that there is an assignment fee or does the buyer give the total fee (less the original deposit) directly to me before he gets to the closing table??
the seller picked the title company because they had done the work already for a previous transaction and it would have saved on the closing fees. otherwise i would have used my title company.

thanks James!

i think that a lot of agents/brokers that have been in the industry for a long time, really have no interest in learning about other aspects of real estate. i dont know if its fear or laziness.
me, personally, i LOVE LOVE LOVE anything and everything about Real Estate so i was VERY eager to find out what i could. some things excite me more than others. for one, knowing that i can become financially independent by investing in real estate is def a big draw! the art of the deal is also another big draw. :)
if i cant find someone to answer questions, or has the knowledge im seeking, theres always a hundred more who will and do...

you may also be able to just use a proof of funds letter. check with your closing/title company on what they prefer. always better to work with one who is familiar and comfortable with non-traditional transactions.

thanks Mark and Brian!

i know the wholesaling fees are disclosed in the Assignment addendum but what is the best way to word that since im also being paid as the 'buyer agent'?
(or am i not getting paid as the buyer agent since i am actually assigning the contract and not necessarily 'buying' the property?)

ive approached my broker before about structuring deals outside of normal retail contracts and was promptly shut down.
i believe it had more to do with her lack of knowledge, and not because i was planning anything unethical.