All Forum Posts by: Rami H.

@Julie Kern Thanks for sharing Julie. You will do great with those 50 units! 2019 is the year.

Hi everyone, I am new to REI, got my own LLC and very much eager to start with my first deal. Would love to get together with as many experienced Investors out there for guidance and advice. Appreciate it. Rami

Hi everyone, when is the next meeting?

Hi guys, I am new to the REI business, got my own startup LLC and do not have a RE license. I would like to get the right guidance and mentoring, shadowing a local investor that would be interested to partner with an aggressive and eager person to help them with their business. I will certainly add something to the table from marketing, research to a modest funding. Looking forward to meet people in the D.C., VA and MD area!

Thank you everyone

Hi guys, I am new to the REI business, got my own company and interested to start with wholesaling, flipping houses in the D.C. Metro area. Wanted some suggestions and thoughts on what to do with 50k if I was to invest it in the industry with the lowest risk possible. I know the amount isn't much but still better than nothing. Thanks..

@Paul Vincent Thanks Paul. Yes I did find a buyer for the properties and got a general power of Attorney from my friend in order to be able to act on their behalf and sell them. Now I am trying to sell two other properties in Michigan and still looking for buyers.

Thank you Jeff.

Let me clarify something. I am not planning to act as a Real Estate agent with no license. I am going to involve a certified realtor to help me put the properties on the market, find a buyer and close the deal.

First I need to put the properties under contract with the seller. Then I will have the realtor start finding a buyer. My question here is, if the seller does not live in the US how can we go by issuing those contracts for the properties. Should I simply get a lawyer to draft a contract and send them a copy to sign? And later on, in order for me to work with a realtor should I have the seller give me a power of attorney so I can deal with the realtor directly? 

Gentlemen, putting the properties under contract with the motivated seller then assigning the contracts to an end buyer is exactly what I want to do, which is wholesaling. 

It was not my intention to act like a realtor or a broker. I mentioned involving a realtor earlier because I assume they will facilitate the buying process, and I do not think I will be able to complete the entire transaction all by myself. We are talking multiple properties here. 

I will be legally representing the seller and have a full power of attorney from them. Obviously I do not want to Realtor to be paying me a commission, It will in fact be the opposite.

My question earlier was, what would be in this scenario the best way to get out with some profit from these transactions. 

Thank you

@James Green

Hi James, 

I had a question about wholesaling.

I have a Real Estate Investment company and got a friend/seller that owns properties in different states and wants me to find buyers for them. I want to start putting those properties under contract with the seller then involve a licensed realtor (since I am not) to help me find buyers and sell them.

I have few questions:

1- Should the seller give me a power of attorney in order to be able to act on their behalf and deal with the realtor. 

2- When the deal is closed, will the new buyer write the check with my company's name since I am legally representing the seller? Do I need to be a licensed realtor or broker myself to receive the money?  

3- Should the Realtor put these properties on MLS in order to find buyers for them? Or there is a better way to find motivated buyers?

4- Some of those properties have got back taxes that needs to be paid. Will those taxes need to be paid in full in order to find an interested buyer? I would assume that no buyer will want to purchase a property with taxes that are still being paid on it. 

Thanks