All Forum Posts by: Nicole Graves

I'm interested in finding out if there are any success stories.  I'm also interested to hear about any wholetailing success stories with REOs.

Welcome to BP, Bree-Anna McKenzie!  Wishing you well in your investing!

Congrats on your deal! If you're confident that it is a great deal others will probably think so as well.  If you're not sure and think finding an end buyer may be an issue you may consider using the BP calculators to assist you.  Do you have a reputable lawyer or title company that you are working with?  You may consider reaching out to them; they should be able to assist with the process as the number of contracts you use depends on how your closing is set up. 

Understood. However, a Seller Side Only HUD is a different way of structuring your closing papers. Here are some links I just found on Bigger Pockets with others discussing whether their state allows it. Again, I believe it's a question for the investor's attorney for clarification. The first link below has a full summary from @Phil Pustejovsky that may be helpful in explaining it more. Again- not advice but merely something to ask a lawyer about if of interest.

https://www.biggerpockets.com/forums/93/topics/223785-does-anyone-know-if-seller-side-only-hud-is-legal-in-kentucky

https://www.biggerpockets.com/forums/93/topics/119...

Has anyone used something known as a Seller Side only HUD? I've heard some people use it to avoid this problem that @Kathleen Nguyen is trying to avoid.  It is suppose to save money from having to do a double closing as well.  From what I know about it however, it may not work in every state but could be an option to closing without having the seller find out the assignment fee.  However, the end buyer would be able to see all fees related to their purchase of course, including your fee.  Just a thought of something to ask your real estate attorney about.

Thanks, @Heather DeGeorge for sharing this insight!  I am new to investing and we are considering some flipping in the future.  I appreciate the feedback you gave above.

Thanks for the post and information!

@ Monique Courtney

Welcome to BP, Monique.  I am also a new investor and trying to learn as much as I can.  I can definitely understand being nervous and appreciate what @Michael Lee said about everyone being nervous at first.  I've been encouraged to keep fear in it's proper place, push past it, and take action!  Informed action, of course- and that's where BP is so helpful with resources to educate our decisions. 

Wishing you well on your investing endeavors!

@Jacqueline Pelzer

Way to go Jacqueline for getting back into real estate.  Sorry that you had that experience, but like you said now you are entering again with more experience.  I agree with the recommendations of the books @Paul Timmins that were suggested along with local REIAs.  I also would suggest registering for the free weekly BP Webinars!  They are very informational and at the end they have a question and answer time.  I found it very helpful and also learned alot from seeing other's questions and BP's responses.

Wishing you well.

Welcome to BP!