All Forum Posts by: Bill R.

@Stephen Menches 

I use clubflyers.com quality cards - great prices. They also have free cards with their info on back.

Do you have And \ or Asigns after purchaser \ buyers name or entity. If so it is a binding contract that you have the legal right to assign. With that being said, are you prepared to purchase property if you cannot assign? If not walk - but I personally would not allow a attorney to strong arm me out of a legal contract. Side note, what a scumbag investor that you were dealing with huh..... I also put a addendum of contract on land records so seller can't back door me for a few extra dollars with another investor. 

@Stephen R.

You can try postcards only, I did and had a poor response. I think letters are better with the whole probate angle - postcards only is my way to with Lis Pendens - pre foreclosure route.

In my experience, the buyer is the one who typically pulls title. I have pulled title before I have wholesaled before - now I do not. The person I assign contract to pulls title. I Usually will go to town/city hall and look at property records myself to see if anything jumps out at me. If you choose to pull title you can have title company / attorney assign title to your buyer and pay you what you paid for title search.

Hey BP,

Started the year with reachable goal of 5 wholesale deals this year. Between being a new (2 years on the job) fireman and tackling a different avenue of marketing than I was accustomed to. So last week I closed on number 4. Maybe I will push it to 10 and up my marketing budget. But happy with results to this point.

@Josh Rich

I have partnered where our LLC's entered into a joint venture for that particular property. The closing was done in partners LLC.

@Stephen R.

I will send out 2 letters followed by 3-4 postcards. Included in my letters is my business card, the back of my card is the same as my postcards so they should recognize it and associate it to letters.

@Shalik Marshall

I have done what you are talking about once when I first started out. It is possible if there is enough room - leins, mortgages and assignment fee is less than what the property appraises for and what the end buyer is willing to pay. The only way I was able to accomplish this was to let the seller know that the property did not hold enough value for me to purchase but I could find someone to purchase. I let him know that I would place a lein on the property for my assignment fee. Then the lien just becomes something that needs to be satisfied for clean title and if it is non contested - no problem. It worked fine for me.

@Chaz Reid going to town / city hall yourself is good to get a idea of what is wrong or not wrong with title, but eventually before purchase a legitimate title search should be done by either you or end buyer is what I was getting at.

@Chaz Reid

I go to the town/city hall where the property is located, then to town/city clerks office. Go to the computer and pull up said property by address or owners name. This is where you will see what has been attached to the property - mortgages, releases, liens (tax, IRS, mechanics, ect.). I check to see if the mortgages / liens have been released or are current and check for sewer / tax liens as well - some places are not filed on the computer but in books, you look up by address. Title is obviously still needed but at least you know what your dealing with.