All Forum Posts by: Angelo Mart

@Bryan L. - Well what if the property is located in dangerous neighborhood with tons of distressed sales and majority of them not being under contract? I spoke to an investor that is looking for a multi-family home in my nearest city (which there are tons of). He said he has no problem working with me (as a wholesaler) and does not care about the neighborhood as long as it is a 2-4 unit. In addition, this area has a lot of REO, Short Sales and some Estate sales on the market with no contract on them or pending contracts at the present time. NJ has the highest foreclosure rate in the country right now and I am looking to cash in on this boat before it sails. I can get a line of credit (for double closing / after 90 days) but would rather do that on another deal when I get the hang of this. I do not want to do any property rehabs...What would you do if you were in my shoes? Thanks

Yes but what about creating a land trust or an LLC to avoid deed restrictions then sell the LLC to the cash investor ?

thanks @James Wise ....Any advise on this topic. I have the REOs and the investors. Would an LLC sale be best? Do they actually work? It seems that's what they are doing in my market. Thanks

Thank You, but how do I orchestrate a deal without having to do a double closing?Investors have said that an LLC can be created to purchased the property and then have an investor purchase the LLC. In addition, I will not be using a buyer's agent as I will contact the listing agents directly. A friend of mine has been trying to purchase multiple rehab properties for over 1 year and could never land one due to competition. However, once he dropped his buyers agent and contacted a listing agent directly he was able to purchase a property (Estate Sale) as the listing agent sounded very aggressive and said she will do whatever it takes to get the deal done. It seems that agents play the game well as their commission doubles when the buyer does not use a buyers agent and contacts them directly.

Hello BP, I am brand new to this and have not closed any deals yet. However, I have extensive real estate experience with connections to both investors and properties. I have been in the real estate industry as a certified appraiser with 9 years of full time experience. I am very fortunate enough to understand the value of each property from low end to high end (ARV) and also have access to tons of great deals (mostly on the mls) especially REO properties. At the present time, I see investors in my very own areas purchasing REO properties and flipping them (after renovations) for sickening profits, money I couldn't even imagine making. Hence the reason I am extremely urgent and driven to get involved in wholesaling properties because there is enough meat on the bone for all to make money. My question is, if I have the investors and I have the properties that are great deals. What do I do next? Get an attorney to write up the contract? Get the contract from listing agent and have attorney amend it with clauses? Like I said, most of these are REO sales with some people say you cant wholesale and other people say that you can, especially with an LLC. I have investors ready with cash and properties sitting there waiting for me, What does a rookie do????

Thanks everybody

thank you

My name is Angelo and I am a newbie to the real estate investment game but a veteran in the field of real estate appraisal. I have been working in the industry full time for the past 9 years and still kill myself working 50+ hours a week. I have full mls access with tons of great deals that I have located and I have also compiled a list of investors in my area. My question is should I create an LLC before I make any offers. Lol. I mean I have been watching videos and listening to Podcasts for a long time now but haven't pulled the trigger. What should be my next step be? Thanks