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All Forum Posts by: Rodney Byers

Rodney Byers has started 6 posts and replied 20 times.

Post: Dang title companies

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

Shawn yes I did I ask up front if they could do it with assignment and they said they had never heard of that so I said I will close on the above and the sell in the b to c.

Post: Dang title companies

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

I am funding the a to b transaction but they still wouldn't do it but they said if I go back and assign the contract 5 hey would. Such a pain.

Post: Dang title companies

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

Been working on my first back to back close. I take the b to c contract to title company and they tell me they can't do a flip because of their underwriters won't do it. Any advice... please..

Post: New Wholesaler here! Question about ARV

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

I know here in ALABAMA I use the 70% minus repairs then minus my fee. Negotiate under that amount. I always start at least 3000 under to give the owner negotiating room and let them feel like they are getting a fair deal. Good luck..

Post: Question about past due taxes..

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

thank you both that's what I thought just didn't want any surprises at closing.

Post: Wholesale property not moving??

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

Not knowing the exact comp makes it harder, but I will give you my figures at your highest price points.

$50,000 x .70 = $35,000 which is highest any investor would pay if it is in perfect shape leaving them profit room.

$35,000 - $20,000 ( repair cost) = $15,000

$15,000 - $4,800 (assignment Fee)=$10,200

Just seems to me your contract with the owner should have been around $10,200 if you wanted a $4800 assignment fee and sold for $15,000

If it were me I would try to sell for $16,000 and pocket $2,000 in assignment fee.

Just my opinion and I hope it helps in some way. Good luck out there..

Post: Question about past due taxes..

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

I am in the process of doing my first double close on a property. The A seller owns the house outright and it has been sitting vacant for 12 years. When I pulled up tax assessment online it said taxes was past due for 2013. I put in the contract that she would be responsible for any past due tax owed on the property. My question is will I have to go pay the past due before the close or will they take it out of her proceeds at closing? I just want to make sure I am doing it right this is my first deal that had past due taxes. Thanks in advance..

Post: The Truth about Wholesaling!

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

very good post. I am fairly new to wholesaling, but i read every booki could getfor a year before i attempted my first deal. The gurus make it seem anyone can wholesale houses and thats not true. It is hard work if you are doing it right. Our first objective as wholesalers should be to leave alot of meat on the bone for our end buyer. Wholesalers should know make our money on volume not the big score.

Post: Need advice about Wholesaler friendly closing Attorneys Birmingham. AL

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

thanks Morgan I will give them a call.

Post: Need advice about Wholesaler friendly closing Attorneys Birmingham. AL

Rodney ByersPosted
  • Real Estate Investor
  • Bessemer, AL
  • Posts 22
  • Votes 3

Can anyone give me information on Wholesaler friendly closing Attorneys or Title companies in Birmingham Alabama. I have two deals i need to get closed and every title company acts like they dont have an idea of what assignment of contract is. Thanks in advance.