All Forum Posts by: Robin Vidovich

Jon,
I put "My company name and or assigned" in the agreement of sale contract wording. Have not had problems with it.

Robin

Terry,
I structure my deals the exact same way I do my regular deals. If you can be more specific with your question I may be able to give you a better, more specific answer.

JCC
Thank you for the clarification. Indeed you are correct!

No need to spend money on a double c lose if you set up the deal correctly in the first place. That is like taking money out of your pocket!!!

Robin

The whole point of wholeselling is to make money but I agree with Ryan, if the numbers don't work for the end buyer in that it is not a good deal, what I charge as a wholeseller doesn't matter. I do however try to makesure that after I subtract the 30% equity, the 10% holding costs, the rehab fee I am at or below what I need to be at (including my fee so once again:
ARV - 40% - Rehab costs - my fee (plus a little more for the end buyer) = my offer to the seller. (I offer even lower when dealing with a bank)

Who cares how much I make on the deal as long as I pass along a great deal to the end buyer.

Robin

The same process CAN be done in using a Realtor, it just becomes another person in the chain to make sure things are done.

Chris, I think you are referring seasoning of an LLC for the purpose of refi. Seasoning is NOT required for purchase of a property of any type.

Hope this has helped.

Robin

Chris,
I have assigned many short sale deals and even did a REO deal. Not sure why you have not been able to do so.

Sara,
There is an illegal form of flipping of a property from one person to another, getting a mortgage on the property and the last person holding the bag defaults in the flipping "ring". I don't think that your broker was refering to that.

Question, why would you need the advice from a broker about wholesaling?

Some title companies don't like to do assignments. You may need to interview a few. Sometimes it is because they are unfamiliar with the process.

Robin

Many people either don't have the time that wholesalers spend finding deals and they would much rather look at one or two slam dunk deals that work than spend hours looking for those same deals. The buyer's that I work with really don't care about the fee associated with the deal as long as the numbers work. I have one investor who ONLY buys wholesale deals. Deals in certain areas most often time are not found in the MLS system.

Hope this helps.

Robin

Second question. Do you also hold property? I assume that your company does since you do call yourself an investor. If so does your criteria change for those that you hold?

Ian,
So how does your business handle the PA imposed double taxing system that was instilled Jan 08?? (Tax on the negotiated price then tax on the negotiated price plus the wholesale fee)

Robin