All Forum Posts by: Oscar Varela

@Christopher Brown, try to find out what his pain is, why is he selling in the first place? I wouldn't mention interest unless he brings it up. If he really cares about getting a specific number, you can even offer him a higher purchase price at 0% interest. Maybe that can get his attention. Another benefit of seller finance is he still gets monthly cashflow without having to deal with being a landlord. You'll be upgrading him from a landlord to a lender. The bank always makes more money at the end!

But you need to find out his pain first before you can offer him a solution.

You can. I think what you can't do are lease options, at least not more than a couple a year.

Hey @Oscar Coronadoundefined

Before buying any property I would highly recommend you talk to an accountant and/or real estate attorney to talk about the best business structure for you to set up as a foreigner.

My mother-in-law is a foreign investor from Peru, and we have recently spoken to a new accountant and attorney and found out that the structure she has set up and the way she purchased her properties is making her pay a lot of extra money in taxes, and she won't be able to pass the properties to her kids without paying 40% of the VALUE of the property to the IRS.

We were told by both the accountant and attorney that the best structure to purchase property as a foreigner is the following:

**DISCLAIMER - I'm not trying to provide accounting/legal advice, just remitting what we were told. Please speak to your own accountant/attorney about what you should do.

1) Set up a company in your home country or other country with you as owner (just can't be the US)

2) Set up a c corp in the US where the foreign company is owner (not you personally)

3) Purchase all properties through the C Corp.

It's very important you get your business structure set up the best way before you buy any property. Hope this helps!

check out Wholesale Hotline on Youtube for some great content regarding everything wholesaling. Wholesaling Inc has some great coaches specific to wholesale, there's also Pace Morby.

I would definitely find out who the homeowner is and reach out to them and see if they want to sell. You don't necesarily have to wholesale it but can buy it yourself if you want.

I'd be happy to help if you'd like, send me a message.

I'd say don't wait to get a POF in order to start making offers. Start making offers anyway and only provide POF when asked.

And if they are asking you for a POF, you probably haven't built enough rapport yet with them and they don't think you're credible.

Definitely go for it, and find a buyer who'd be willing to take on that project.

Hey everyone!

I'm looking to connect with any wholesalers based out of Jacksonville FL. I'm just getting started (virtually) and would love to ask a couple questions!

Thanks in advance!

Hey BP community, is anyone currently wholesaling in Lima, Peru?

I'm new to the business and living down here in Peru. Would be awesome to connect with someone down here and talk about the subject.

Thanks!