All Forum Posts by: Sean Gibson

I'm a cop in The Tampa Bay region and trying to get into wholesaling. The other day I went to a call about kids messing with a vacant house. Upon arrival the house was secured and appeared to be in great shape. I spoke with neighbor who said the owner killed himself 4 years ago and the family couldn't handle living there and abandoned it. I looked online and saw it was purchased for $25k and worth approximately$138k. I also observed BOA was unable to prosecute a foreclosure. From a recent police report I obtained a phone number for the widow and called her. I told her I was needing to know the owner's status so I can charge anyone found inside with a crime. She was out if town and wasn't sure what the status was but "something happened and the bank couldn't foreclose". I didn't mention anything about trying to sell or my intentions and she said she would call me back when she gets back in town and looks at her paperwork. My question (sorry this is long) is this a possibility and what process would I need being the bank unsuccessfully tried foreclosing?

I found a REO while on patrol in a very quiet and nice neighborhood. The bank wants $102000 and it's ARV is $229000 with very little rehab needed ($7000?) as it's in damn near perfect condition. What steps should I take to get this deal done? It has a barn which can be easily transformed into another rental and an encolsed pool.

Don't ask Casey Anthony.

Thank you all for the greetings. I am basing my "assignment fee" on the local market I am focusing on. I read all 12 pages of The Truth About Wholesaling" and saw stories from investors who smudged at wholesalers messing with the numbers, trying to score a bigger payday. I will not be a part of that as I'm perfectly fine making (at most) $5000, if I know I helped a seller and made a name for myself by passing a great profit margin onto the buyer. If I only charge $5000 while the investors make more than 30%, than I'm perfectly fine with that as I'm sure they would keep me in mind for the future. If a margin isn't as nice, then a $1500 check for me is still better than fighting people high on bath salts for two weeks making slightly less.

Hello everyone, my name is Sean. I'm a sheriff's deputy in the Tampa Bay region and well, we haven't seen a pay raise in six years. I have always had an interest in real estate and often deal with citizens who are investors. I have always had a calling in helping others which is why I became a cop. I am very interested in becoming a honest and hard working wholesaler to provide me with a side business while still helping others. Being a cop, I obviously drive around in various neighborhoods and see properties in being unkept. Every day I meet people who are desperately needing to sell their house due to divorce, relocating and various other reasons. I strongly feel my dedication to helping others and my strong ethical and moral beliefs would allow me to become a great wholesaler with some advice and experience. I am not looking to make any more than $1500-$5000 per deal as I want to make sure buyers understand I know my role and that is to help the sellers and buyers alike. Thank you in advance for any advice or kind words.