All Forum Posts by: Rob Grove

New Windows, Roof, Siding, Some Electrical done within the last 5-6 years. Has one Boiler for both units, Separate Electric. Tenants have been there a few years. $2700 a month in rents. Click the link below for pictures of the one unit, the other is identical. 

 Call me at 763-273-0751 if your interested. 

https://drive.google.com/folderview?id=0B4AYiedFy6...

I got a Duplex for sale. Both Units have 4 Beds 2 baths, Rents $1350 each.

Siding, Windows, Roof are about 5-6 years old, some electric was done at that time also. Has Washer Dryer Hook ups. Separate Electric, One Boiler. Rooms are pretty decent sized. Tenants have been there for a few years. One is section 8, the other is not.

Copy and Paste Below for Pictures of the one unit, both units should be identical.

https://drive.google.com/folderview?id=0B4AYiedFy6x1QTlPTTR1MEpsSmM&usp=sharing

Asking $182,500

Please let me know if you or someone you know are interested. Call me on my Cell if you have questions 763-273-0751

I'm trying to get my first deal under contract and the seller had his property manager/RE agent/guru look at the contract and now I'm negotiating with the property manager.... It's a "contract for the purchase and sale of real estate" I got from BP file place. It covers all the basis but he asked what title company I used and if they accept the contract.  I said the first title company that came to mind and said of course they accept it. I'll call around tomorrow and double check but I'm curious. Im located in Minnesota 

I got a call from a mailing I did in a really nice area. She has the property listed for 1.2 million with 5.5 acres. I just talked to someone else who knows some builders. Is there a way I can wholesale this property without proof of funds or EM in Minnesota? Thanks.

Just remember that you have the cash and the control. Walk away if the numbers aren't right. There are plenty of opportunities out there.

Can I wholesale a contract to a retail buyer

Here for the responses.

I think I'm just trying to polish a turd and I don't think I'm ready to do a short term balloon; spring is around the corner and I'm not giving up my motorcycle :)  I'll keep doing research to see how to structure it in my favor and if it works, it works. 

@Tom S. median comps are 175k. Properties with modern finishes are 210-225k.  As far as asking price, my initial thought was to come in at a premium so he'll finance me, maybe I'll have to rethink that. As far as the refinance or getting a loan in let's say 3 years, i thought the loan would be less what I owe him. I  know a commercial lender that I think as long as I have 20% of the loan, it should work out... I'll have to look into that. 

My plan is to have all my debt paid off, have a full time wholesaling business, maybe some more rentals as they come, but mainly wholesaling and to have the money for a 20% down payment in 3 years. I actually plan to make this wholesaling thing work this year and quit my job. But this is my first mailing so I'm trying to make the best of everything that's come across.  Idk how else to make money off of it. 

First I want to state I'm completely new to this and my first mailing is tossing me Alot of learning curves so bare with me and if there is any other alternatives to what I am asking, thanks for sharing. I have a out of state seller who is tired of renting. He owns the property outright. It rents for 1600, he has a management company who manages it. It's near a college. He listed it for 225 a few years ago and it didn't sell(he admitted he tried to recoup some costs from remodeling). I am to prepared to offer him 170, making 180 the most. I told him I would basically pay him a monthly payment and take over the responsibilities and refinance in a few years. My situation, I don't know the best way to structure this, I don't want to pay any money out of pocket, I'd like to make $200 a month maybe $150, it's has a management company there now, I forgot to ask how much he pays but he website suggests it's about 90-100 a month. I live 2-1/2 hours away so I'd probably keep them in place since it'll be my first rental. It's near a college and will be vacant soon but it's listed already, but I'm under the impression it has a month or two vacancy rate due to the school schedule. I'm looking for all the guidance you can provide on how you would structure it as far as payments, interests, closing or title transfer or I think there are ways where I just have an equitable interest. The biggest thing for me is not paying any money since I have allocated my money to marketing and am not in a position to utilize any of that. I probably could come up with some closing costs if I had too but it's not preferred right now. Who would have thought my first set of responses are all people trying to not lose a bunch of money. I may just keep owner financing if I can figure it out... Thank you!!!!!!!