All Forum Posts by: Account Closed

Hey everyone,

So I know wholesaleing is supposed to be low money low risk, I believe for the most part if you're doing it right to be true. So hypothetically speaking I have a deal under contract, I send contract to attorney, he then opens ecrow and starts title search. 

Then for whatever reason the deal falls through, seller backs out, underestimated rehab, etc. (I know the goal is to always close but deals do fall through sometimes) 

So who then pays for the attorney for cost of doing Title search? What is the common practice amongst everyone? 

Some people who teach wholesaleing claim if you make an offer and you can't close for whatever reason the only thing you have risked is your earnest money, but aren't you still responsible for the cost of opening escrow/title search? Or do they just eat that cost? What is common practice amongst everyone?

Thanks

Thanks for your input! Any other suggestions?!

Hey guys, 

So I have a list of county owned properties that are going to auction via sealed bid auction, with 5% of the bid amount due along with the purchase agreement. They require that you use their purchase agreement, that has no assignment clause in it obviously. I've analyzed the deal and know my MAO , my plan is to wholesale the property but am not sure how i can do so without putting up my own money first . I'm fine with putting up the deposit money. I just don't know how the process works with a double close, how would I set this deal up so I'm not coming out of pocket and still making my wholesale fee?

Thanks 

They work with existing duct work in place assuming you have ductwork running throughout the basement unit. They just install dampers within the duct work to open and close when needed. Not a hvac pro just know it's possible, good luck!

Another option if you don't feel like buying another furnace is installing a zone control system off of the one furnace. It allows you to have two thermostats controlling each unit. Your local HVAC contractors can install it for under a grand, you would just have to cover the gas bill. 

Thanks @Michael Bowman

@Michael BowmanI will see what I can work out with the sellers to get the ball rolling! Do you manage properties in Greensboro?

Really? 

I'm asking this because I don't want to get screwed with tenants that wont leave 30 days after closing. My intentions are not to just throw these tenants out on street like some piece of trash, that's not what I meant. I just wanted to see if anyone had any input of substance rather than trolling someones post. 

Welcome!

Hey guys,

I have a duplex that I put under contract today. I want to get both tenants out as fast as possible because i plan on living in the top unit and remodeling the bottom unit a bit as well as getting a tenant of my choice in there. Both tenants are on month to month leases. Is there any creative ways to get these tenants out as fast as possible before closing?

I was just in the same situation. I used a website called Intellius. It gave me a solid address and a phone number. Pretty cheap too!