All Forum Posts by: Sylvia Grimes

Old thread however I have a question about the verbage in the contract. If you plan on wholesaling and assigning the contract should/do you still need the contingency that you can negotiate the taxes down?

Thanks All for your insight.............

Manny its seems like the senario you mentioned is closer in line to what Im looking to do. If a cash buyer can't be obtained.

Thanks Brian for the advice, is there anyway to do the sub2 with the potential buyer collect my assignment fee and move on. Im not interested in waiting for the rehab to be complete or a JV on this particular property.

Just curious if not I'll just consider a cash buyer and not someone who needs financing.

Here's examples of numbers and what Im trying to do.

Let's say whole sale deal price $18,000

Under contract $15,000

Buyer offers if seller financed $5k down with $750/mo.

I have a wholesale deal which needs a complete rehab. Its most likely a buy and hold deal for an investor with a 12.8% cap. I've been getting a lot of offers from people who have inquired about owner financing on the deal.

My question? If the owner agree's to this type of transaction is there a way for me to structure the deal where I can collect my wholesale fee, and move on without being the middle man for the duration of the agreement (note, etc.)?

Kenneth,

DON’T give up. When I started out it was easy to get folks to call and inquire and it was around the time when the market was right for wholesaling properties seller’s eager to sale. However, it still took me some time to obtain a good property and close on it. Persistence is the key to real estate. I’ve experience bumps in the road dealing with other wholesalers and investors who weren’t serious or jerked me around. But you brush that off and take it as a learning experience of what not to do moving forward. So NEVER give up.

I've been looking at this company for a year now deciding if I should get involved. Thy're base in VA and DC metro area Wanted to know if anyone has heard,dealt with, currently involved and what success if any?

I mainly do wholesale deals however the market changes was thinking this might be a way to go as an addition to what Im doing now.