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All Forum Posts by: Pat Mulligan

Pat Mulligan has started 2 posts and replied 14 times.

Post: Residential Investor/Broker from NJ

Pat MulliganPosted
  • Atlantic City, NJ
  • Posts 14
  • Votes 1

Thanks, @Michael S.

Post: Residential Investor/Broker from NJ

Pat MulliganPosted
  • Atlantic City, NJ
  • Posts 14
  • Votes 1

Greetings from sunny Atlanta! 

I am a small investor looking to grow our portfolio. We (meaning my wife and I) own 4 rental units in 3 different states. I am also a licensed RE broker/sole proprietor in VA and have worked in sales and property management for 25 yrs. It is only now in my "retirement" that I want to focus on building my own wealth.

I am currently in Atlanta with my spouse while she works for Tyler Perry, and we are looking to pick up some properties in the Atlanta market.  We love any residential that will cashflow, but will fix and flip a good deal too.   

We are very familiar with L.A. County, Southern NJ and getting cozy with Atlanta. Other markets of interests are Denver and Houston.  Feel free to reach out to me if you have any deals.  We are serious investors ready to jump to the next level. 

I am a beginner when it comes to creative financing, so I hope to learn a lot by joining this community. 

Peace, 

Pat Mulligan

Post: looking to close my first wholesale deal in new york

Pat MulliganPosted
  • Atlantic City, NJ
  • Posts 14
  • Votes 1
Originally posted by @William Barthelmeus:

once again thanks for the advice Bob! I think i found a Re attorny that does double closes, but im not sure what questions to ask him?  Again i know i have a good deal on my hand, but this will be my first and i am starting off with no money!  the seller is motivated but he wants $4000 in earnest money For 4 1bd condos!  Any advice?

I would be cautious about the $4000 earnest money. We planned to flip a property in Atlanta, but when our private lender backed out 5 days before closing, we had to wholesale the deal. There must not have been enough in it, because we were not able to assign it and lost $5000 earnest money. That was our first wholesale deal- live and learn. Now, we only offer $100 and will ante up maximum $500- no exceptions. If the seller is truly motivated, they will take it. Or, if you think it is truly a great buy, just know loosing your EMD is a risk you have to be willing to take.

Best of luck to you. 

Pat Mulligan

Parrigan Group LLC

I didn't even know about this program, Ceril. I think it is worth looking into, tho.  

thanks for posting.

Pat