All Forum Posts by: Radin Mirshahi

Thank you all. It turns out the the HML has worked with the wholesaler, and is ok with doing an appraisal after the deal is under contract, by working with the buyer.

@Brian Ploszay thank you.

Hello BP. When buying a previous MJ growhouse SFR, what would be some things to look out for? I'll be looking at a property with the basement FORMERLY used as a growhouse. From the pictures, all the equipment has been ripped out and looks like a "clean slate" inside. Basement is concrete slab and partially finished. I read an article warning about possible illegal wiring, plumbing, bad sewer, rotting floor and danger of mold. But any other issues may I run into that I haven't mentioned yet? Any gotchas with insurance, hard money loans, laws and the like that you know of from experience? Finished product is to be a properly rehabbed standard SFR and marketed as such. Thanks in advance for any insight and lessons learned!

Trying to buy a wholesale deal using hard money.

Hard money lenders require appraisal.  

Wholesalers that I have looked at, do not seem to allow or like the idea of appraisal.  Interestingly, they say you can use hard money to buy deals from them....

How do you resolve this gap? What has been your experience?  I sure don't want to sign a contract and then lose my earnest money because the deal can't close!  Thanks in advance.