All Forum Posts by: Robin Vidovich

Depends on the size and number of units. If I have a 2 unit sometimes I pull comps based on other 2 units as well as Sq Ft. If you are talking about larger units, it may pay to have an apprasial done.

rdinvestors

Jason makes a great point. Always know your numbers. And NEVER negotiate against your self. If they turn down your first offer, let them give you a number. Silence is great to use when negotiating. They are trying to sell you a house and you are trying to sell them on your price.

rdinvestors

Title search is done before close and the title insurance is paid for by the end buyer at the close table.

JoePA
Welcome to a great source of information.
I love to see Philly area people on this site. I have a guy who is doing some great in money stuff in the area if you are interested. I rarely leave money in my deals (have on a few occasions for very unexpected events) and have always done 80/20 LTV loans.

Good luck and keep us posted.

rdinvestors

Ryan,
Could not agree with you more with your book suggestions (have read them all) but, I need to add Rich Woman Poor Woman. I assume that you are not a woman thus have not read this book. The book truly reflects how women have started to evolve in the work place but points out how many of us need to evolve and invest for our selves without needing or wanting the financial support of a man. It may sound like Woman's Lib stuff but the Stats on women in poverty are staggering.

Thanks for the women's plug REIJim !!!

rdinvestors

With a properly structured deal, you won't have to put anything down on a deal. Keep reading the posts. There are many different ways to not use your own money.

If on occasion a great deal does come along in which you need to move quick with cash then you can jump on it. If you tie up all of your money you, would have to pass.

Please make sure to educate yourself before you jump. That $250K will be nil if you make decisions with out knowing what you are doing.

Tony,
Check with your title company in the state you are doing business as to how they handle double closes and whole sales.

Robin

I agree with Jon.
Any additions to the contract needs to be initialed by both parties.
Don't rock the boat at this time.

Robin

Lesson well learned. I believe that you did the right thing. Your name and reputation means everything in this business. It certainly could have been more costly. Not too shabby for your first deal!!

Robin

Jon is 100% correct.
Keep in mind that if your attorney is not a real estate attorney, he may not have knowledge of what a wholesaler does and what it is to wholesale. (selling a piece of paper that gives the buyer the right to close on the property).

Robin