All Forum Posts by: Ruben Joseph

Seller financing 

Let’s connect 

Click this link and you guys tell me if mass of foreclosures aren’t coming 

Yes 

Depending on your market I’d say $150,000 up to about $350,000 or $400,000 that’s were the bigger assignment fee’s are 

Use the TREC Contract it’s a one to 4 family contract very easy to fill out can be confusing at first 

https://www.trec.texas.gov/sit...I

From my experience it’s safe to have a 9 to 5 because these deals sometimes don’t close how you expect it to. Long story short on my first deal i made a $15,000 assignment fee i had quit my job right away because i wanted out but the deal had ah bit of hair in it to where i got behind 2 months of rent on my apartment and behind on my car payment but i ended up closing on the deal but the day before i got the $15,000 my car was sold at auction from the lender so lesson learn i keep a 9 to 5 job now that pays every week which is consistent income to fund my marketing don’t want to put that pressure on your self where you don’t have another income besides looking for that first deal 

Investment Info:

Single-family residence wholesale investment.

Purchase price: $46,500
Cash invested: $100
Sale price: $55,500

this property was a fire damaged property of two elderly couples the husband was tired of cleaning the house out of there belongings his wife was sick so he just wanted to be done with the property i followed up with the seller for 9 months before we actually got a contract signed

What made you interested in investing in this type of deal?

it was a vacant property with a blue tarp on the roof fire damaged as well

How did you find this deal and how did you negotiate it?

driving for dollars and i meet with the seller face to face followed up for 9 months before we got a contracted signed

How did you finance this deal?

i assigned my contract to my end buyer

How did you add value to the deal?

i contracted the property at a fair price for the seller and my buyer

Lessons learned? Challenges?

always follow up with your leads even if they are not ready to sell today

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no

Investment Info:

Single-family residence wholesale investment in Conroe.

Purchase price: $45,000
Cash invested: $10
Sale price: $60,000

this was a flooded home and the owner was currently living in Florida

What made you interested in investing in this type of deal?

it was a vacant flooded home

How did you find this deal and how did you negotiate it?

driving for dollars

How did you finance this deal?

i assigned my contract to a end buyer

How did you add value to the deal?

i contracted the property at a very discounted price

What was the outcome?

seller was behind on his mortgage payment haven't made payments for two years on the loan

Lessons learned? Challenges?

i had to get proof of flood insurance to provide to the lender that it was going to be applied towards the loan & i also had the contract at a non investor friendly tittle company so i had to take the contract to another tittle company which made the process much longer

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

i pretty much went into this deal blind folded and had some bumps and bruise's along the way but i found my way and got the deal closed