Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Quincy Williams

Quincy Williams has started 2 posts and replied 4 times.

Post: I have 3 questions

Quincy WilliamsPosted
  • Austin, TX
  • Posts 4
  • Votes 1

Thanks for the reply Steve,

Yes you are right I was thinking about the short sale where it is illegal for the owner to profit fro the transaction.

I should have made my question more clear. Does the owner get a seperate check at closing on a cash deal or does the profits come at the closing table from the all cash transaction.

Like, do you pay the owner a seperate check? Or does the owner get the money after close on the agreed upon set price?

Post: I have 3 questions

Quincy WilliamsPosted
  • Austin, TX
  • Posts 4
  • Votes 1

On a subject 2 deal, how does an owner get money for handing over the deed to the buyer (you) if it is illegal for an owner to profit on an subject to deal? How does the owner get money for the equity on a subject 2 deal?

Second, how does an owner profit on a cash deal. With a check from a agreed upon price or at closing when you pay them more for what they originally bought the home for?

The last thing I want to know is it more profitable to do a subject 2 deal then a cash deal? I mean, instead of aggreeing to pay cash for the home it would be more attractive of a deal if you just took over the extisting loan and pay the owner for some of his equity?

Mr. Will Benard,

I would love to be one of those guys that have a true life story of their first deal being completed here on BP.

The motivation, desire, passion is all there. But the one thing thats holding me back is that I don't know how to find preforeclosure leads.

COuld you explain a little bit on that?

The idea is to get a house at a discount of 30-50%. But how am I going to get the house at such cheap of a price when theres hardly any equity in these pre foreclosures?

ANother way I could do it is agree with take over of loan, agree to give them10-12 thousand dollars, assign the contract have the invester pay them without anything coming out of my pocket while making a hefty chunk of change say 5-10 thousand dollars? That strategy works, does it?

MY questions are how do I go about getting a house for 30-50% off, and could I just agree to take over existing loan while promising them (I hate to say that) some cash and assign contrack over to invester? Any other strategies would help.