All Forum Posts by: Robin Vidovich

You don't need to be if preforclosure to start a short sale! (it certainly helps)

Robin

Jamie,
Google Assignment Contract. There are a ton of them out there. Wholeselling is a loose term many of us in the business use for having a property under contract (thus having the controling interest in the transaction). Assignment of the contract is what a "wholeseller" does. They assign the original contract over to the end buyer. Some call wholeselling when they get a property dirt cheap and put it back on the market with out doing anything to it and make a bit of profit off of the turn.(selling at a wholesale price)

Flipping can mean a few things as well. Such as "Flip This House". Buy low with enough equity to cover your rehab and to turn a few bucks after you rehab and place back on the market. I have heard some refer to "flipping a contract" such as what a wholeseller does so make sure you are on the same page with those you communicate with because it seems that terminology can get a bit muddy.

Hope this helps more than it confuses.

Robin

Hey, Welcome to a great resource. I have a few contacts in Pittsburgh one is a Loan guy and another is a wholesaler/investror.
Let me know if you are interested in either one and I can send you their info.

Robin

Hmmm..... I have wholesaled both a Foreclosure AND a Short
Sale. Minor issues with both but it was done and with out selling off in an LLC.

Robin

Having a morgtage broker on your team can be very valuable. Keep in contact with them to see what is typically out there for investors.

Robin

Because I often provide a contractor's quote with my deals I often put in my contract "this contract contigent on buyer's contractor verifying rehab numbers" or something similiar. That way if I need to get out of the contract sooner than final inspection I can.

Robin

Being from the Cleveland area and living there for nearly 30 years, the "rust belt" issue was over years and years ago. Most of the manufacturers were miles from the city and believe me, the employees are not tenants or those living in the city.

I agree with Jon you need to go and experience the area you are looking at.
Case in point, I just assigned a property in Philly only 3 blocks from $300K condos. I should have worn a flack jacket based on the neighborhood. Property comps out at approx $65K. You gotta go smell, see and taste an area. Okay maybe not taste but certainly experience it!!!

Robin

I have multiple income streams. One of which is my Husband. He produces some nice CF!!!

Seriously, I left the health care field in 2006 (was a critical care nurse for 20 years) and found that male nurses who wanted to climb the ladder into management did so at a greater pace than their female counter parts. Hmmmm......

About 15 years ago when I was discussing a salary disparity between a woman and man co worker, the other person (who was a Woman) said "but he is the bread winner for his family". Yeah, like I care or like I work any less than he did.

Just one Woman's observation.

Robin

I invest my extra time in my MLM business. Most months it out performs my rentals.

Multiple income streams Baby!!!

Robin

Let's hope so!!