All Forum Posts by: Robin Vidovich

Eric,
On an assignment you do not need money. On a double close you will need the appropriate costs to cover any title costs, notary and transfer costs. Talk with your title company that you are using. It may differ from company to company and is different even from state to state.

rdinvestors

wjs66,
I am just down the road from you working in Reading and Harrisburg. I have been investing for a couple of years but most of my deals have been wholesale deals because I get a ton more deals than I can keep.

Feel free to PM me if you would like to brain storm.

rdinvestor

I have wholesaled a FSBO that a realtor brought to me. I figured in the realtor's costs/ comission in the buying of the property so that at close the buyer pays the comission as part of the sale of the property.

grinder,
The original seller, the realtor and the end buyer go to the table. You get an agreement of sale contract written up with the wholesaler and that is all YOU do. The whole saler will assign the contract to the end buyer and pay the wholesale fee to the wholesaler.

Hope this helps.

Robin

Hear hear MikeOH. I have lost a group of friends by doing what I do. I tried to keep business-business and personal-personal but the rest of the group was not able to do the same. Now there are 6 people a stone's throw from me that I am no longer friend's with. I don't know if the relationships would have lasted the test of time but I do know that investing was the pricipating factor in the loss.

Webtt888, knowledge is power. Read everything you can to educate yourself about investing. While you are educating yourself, compile a group of professionals for a team that will work for you. ie. accountant, lawyer, realtor, contractor, banker etc.

gordo,

Once again thanks for your information I certainly can approach more deals knowing I don't have to go to the table with closing costs on these types of deals.

So for a simutaneous closing do you incur closing costs?

For these types of deals, do you have a wholesale note or a full agreement of sale?

I have only done straight forward wholesales in which my fee is paid before the property closes and basically I don't even need to go to the close table.

Thanks for your time and information!

gordo,
I consider a simutameous close a dual close.

Please bare with me....

I get said property undercontract, find a buyer who is able to close the same day that I close on the property and I use their funds rather than bringing money to the table? (with the understanding that I am making money at the end of the buyer's close)

gordo,
Are you saying that in a double close you don't go to the table with any money??

REI Coach,
Just saw your post with attaching a lein to a property. Today I just spoke to an investor who is going to need to do this in order to pay me my wholesale fee.

Good to know I am in great company with approaching a deal any way it will work.

Robin