All Forum Posts by: Daniel Paloscio

Congrats on getting started at your age! You'll be a veteran by the time the average investor gets started, so good on you!

A great book to check out, if you've not read it yet, would be Rich Dad Poor Dad. It's a great book to really wrap your mind around owning real estate and how to look at where you are spending. 

@Tatyana Baytler

What state is your client purchasing in?

@Nathan Kawalerski you do not have choose between one or the other. Each provide their own set of benefits. Most of my properties are in LLC's and I have a blanket liability policy on all of them. I do have a few rentals that were Fannie/Freddie loans which are in my personal name but I will eventually put them in different entities.

@Alexander Popusoi

We offer loan approvals free on our website to both individuals and companies (no LLC needed). They are under the "Proof of Funds" tab. You are also 100% guaranteed funding on them as long as you are wholesaling a deal and doing a same day simultaneous closing.

Hey @Beverly Barabin, it may be somewhat difficult to find a private lender willing to lend 77% LTV. It does sound like you might have a pretty good deal and the type of deal that hedge funds buy. A lot of these funds are paying very close to retail. I do a lot of transactional funding for wholesalers in TX that sell to a number of hedge funds. If you'd like, I'd be happy to make an intro so you so you can see if you have a JV opportunity if you don't end up locking in a private lender.

Hey @Jaime Nevarez congrats on getting started!

We fund lots of same day back to back closings for wholesalers in VA and have worked with Land Abstract & Escrow for many of them. They are extremely knowledgable, investor friendly and really experienced in dealing with wholesalers and closing wholesale deals. I'm happy to share their contact info if you want to send me a PM.

Hey @Jaime Nevarez congrats on getting started!

We fund lots of same day back to back closings for wholesalers in VA and have worked with Land Abstract & Escrow for many of them. They are extremely knowledgable, investor friendly and really experienced in dealing with wholesalers and closing wholesale deals. I'm happy to share their contact info if you want to send me a PM.

It's not that dry closings are illegal, but most title insurers will not insure closings that are dry funded. Most title companies will not do dry closings because of this. You can avoid assigning and needing to dry close by using trx funding. I have not read the Virginia law on this, but we fund deals for wholesalers in Virginia regularly, so to the best of my knowledge there are no rules requiring a real estate license to do a same day back to back closing. When you have a back to back closing, you actually have equitable interest in the property which would address any issues with assignments. 

I work with an excellent closing attorney & title company in VA that is very investor friendly and familiar with wholesaler transactions. I am happy to share their contact info if you want to shoot me a PM.

@Samantha Gray we do a lot of private mortgages in FL, work with foreign entities and can close in a few days. I just PM’d you.

@Jakeira Burney I work with lots of wholesalers in FL and have blank FAR-BAR’s, which is the standardized purchase agreement created in random by the Florida Association of Realtors and the Florida Bar. I also have template assignment agreements for FL. If you want to shoot me your info I’d be happy to forward them over to you.