All Forum Posts by: James NA

So when would you wholesale a property already under contract???? Every time that I can tack on my w/s fee and still keep the buyers overall price at 70%???

Right now I'm in the process of putting a house, in perfect condition, under contract. Seller is really motivated. She lives too far from her job and wants to move. Loan is 160k and the house appraises around 180k. Its in a small cul de sac and the house across the street sold in days. Is it possible for me to get it under contract and then partner up with a realtor to get it sold even though there would be no equity with which to pay the realtor?? I know that no investor would want the contract because there's not much money to be made from it but is there a way for me to make and money from it as a wholesaler. The house's condition and location makes it very possible for it to be sold retail and fast. Help please. Someone suggested a "reverse assignment".....whatever that is.

Is there a term when someone wholesales a house that they bought from a wholesaler???? Thing is there are tons of ads for investment houses here in Atlanta. Usually the asking price is less than 70% of the ARV but I'm led to believe that these are ads from current wholesalers who have the property under contract and want to move them fast. Wouldn't it be possible for me to get those under contract and actively work to sell them to a buyer with my assignment fee tacked on??? Is this common???

Is there a term when someone wholesales a house that they bought from a wholesaler???? Thing is there are tons of ads for investment houses here in Atlanta. Usually the asking price is less than 70% of the ARV so wouldn't it be possible for me to get those under contract and actively work to sell them to a buyer with my assignment fee tacked on??? Is this common???

Right now I'm in the process of putting a house, in perfect condition, under contract. Seller is really motivated. She lives too far from her job and wants to move. Loan is 160k and the house appraises around 180k. Its in a small cul de sac and the house across the street sold in days. Is it possible for me to get it under contract and then partner up with a realtor to get it sold even though there would be no equity with which to pay the realtor?? I know that no investor would want the contract because there's not much money to be made from it but is there a way for me to make and money from it as a wholesaler. The house's condition and location makes it very possible for it to be sold retail and fast. Help please. Someone suggested a "reverse assignment".....whatever that is.

I have had the same problem here in Atlanta, GA. I've gone to several county courthouses and I find squat. I do find a few lis pendens but GA is both a judicial and non judicial foreclosure state. Still searching for an answer.

Off subject but...Does anyone use equitydepot.com??? Its a foreclosure listing company based only in Atlanta I think. I was just wondering if anyone could give me the skinny on it before I wasted money. What about RealtyTrac. I know that its one of the most popular sites but I had a trial membership with them and their list seemed to be a little behind. Can someone suggest a good foreclosure listing service in Georgia THAT THEY ACTUALLY USE. Because other than purchasing a list, I see absolutely no way to find pre forclosures in Atlanta. They are not listed at ANY of the courthouses. I need help.

Does anyone use equitydepot.com??? Its a foreclosure listing company based only in Atlanta I think. I was just wondering if anyone could give me the skinny on it before I wasted money. What about RealtyTrac. I know that its one of the most popular sites but I had a trial membership with them and their list seemed to be a little behind. Can someone suggest a good foreclosure listing service THAT THEY ACTUALLY USE. One that works..........Thanks.

I'm assuming that you "get smoked" by underestimating the amount of work thats needed to rehab the house and pay way too much for it. Is that correct?

Can someone give me some of the pros and cons of investing in abandoned properties??