All Forum Posts by: George Bumpus

Hello Mike,

Thanks for taking the time to respond to my questions. Yes you were correct, and the advice you gave is greatly appreciated. I have another buyer lined up so we'll see how it goes. Thanks again.

George

Hello everybody.  I am trying to figure out the best way to legally receive money from a deal I'm trying to work. I am NOT a licensed realtor. This is a wholesale deal and I was obviously looking for a cash buyer. A gentlemen called me and asked me if my seller would consider terms. The deal is... I have this property under contract for 10k, I am asking 12,500. The interested buyer wants to put 1,000 down and pay $250 a month for 3 and 1/2 years. His math is wrong and that would actually be 2,000 down. I planned to just assign this contract and make the spread, but I am confused as to how I can legally receive the funds for putting this together if it's accepted by the seller that I have the contract from. I have wholesaled several deals but I've never dealt with terms and financing if that's the right way to put it. Any advice would be greatly appreciated. 

What's up fellow investors, I need your help! I'm a property preservation contractor and I'm trying to figure out a way to buy these pre-foreclosures and foreclosures from the work orders that are assigned to me. I know that you can't assign REO's, so I am looking for advice on either buying using transactional funding or maybe doing it another way. Any advice is appreciated! Thanks!