All Forum Posts by: Paula Wallace

Hey, interested, but needing more info.

LOOKING TO JOINT VENTURE IN NEW ORLEANS ON BUY AND HOLDS. 

If anyone is interested in providing private money for this deal, we could make some money together, using this property as collateral plus interest!

It is in the uptown area.  The first unit needs flooring and cosmetics, also a stove, fridge and washer and dryer.  The middle unit is the only one occupied and it is turn key.  The last unit is identical to the middle unit and needs flooring (boxes of tile included) in the bathroom and a few in the entrance.  This unit also needs a stove, fridge, washer and dryer.  There is no central a/c or heat, but one small window unit suffices for both of these units.  This is a great opportunity to utilize AirBNB since this property is right on the Zulu parade route, it is also completely gated with a driveway.  If interested I can show you the property today!  This is an inherited property, I am wholesaling.

Hi,

When you make the offer and it gets accepted, you sign the purchase agreement for the offer price that was accepted and it is now under contract.  So if all of those happen and you sign a(n) purchase agreement/contract, you have the property, but you also need to provide the deposit amount requested (usually $1,000).  If you do not supply the deposit than the agreement is not solid, so someone else can come up behind you and take the property.  I hope this helped!

Hi,

When you make the offer and it gets accepted, you sign the purchase agreement for the offer price that was accepted and it is now under contract.  So if all of those happen and you sign a(n) purchase agreement/contract, you have the property, but you also need to provide the deposit amount requested (usually $1,000).  If you do not supply the deposit than the agreement is not solid, so someone else can come up behind you and take the property.  I hope this helped!

Obtained our first HANO approved rental property for Sept 1!  Start getting rent to the bank next month.  

I am looking to purchase a 3-unit 1bd/1ba in Uptown New Orleans and need a partner to help with the cash side (plus interest).  Purchase price is $100k and repairs are minimal (little flooring, toilets, stoves, fridge and a little cleaning).  It is close to St. Charles and just an Uber away from Magazine street and the French Quarter.  Would normally make $1600 in rent combined but I want to use one of the units with AirBNB because it is right on the ZULU parade route, perfect for MARDI GRAS!!  

If anyone can help, I'd greatly appreciate it.  Working on financing right now for 80% plus rehab.  Looking to refi in 12-18 months.  

Watch out New Orleans and make some room! 

;-)

Looking for cash investors!  Looking for minimum $10k investment with a 5% interest after 12 months.  Negotiable.  Contract would show terms.  I currently have a double and single family residence and contracting another single family (pictured) and a triplex.  

Please message me if you are interested.  

What @Jon Behlke said is very true, if you do not have an end buyer then you do not make a deal.  Reach out to any cash buyers in the area and see if they will take the deal, even maybe a few landlords that wouldn't mind adding to their portfolio, if it cannot be sold outright.  In wholesaling you should ALWAYS have an end buyer in place but make sure you have outs in the contract with them just in case they fold on you.  Oh and always get an earnest money deposit to make sure they have some skin in the game so you can take them seriously.