All Forum Posts by: Sameer Punjani

Jeff,

thanks for the reply. So if i find the deal and get it under contract, is it just easiser to assign the deal and collect on the assignment fee? I know some sellers get all freaked out when you have the buyer name then, "and / or assigns" I read also once you have the deal under contract, i might be able to just add another buyer with the funds (the rehab buyer), and use his money to close? How else are you doing the a to c? Also how will this work for short sales and REO purchases?

Jackie, thanks for your reply. How many deals have you done so far? I know i've read where you need to bid about 15-20 times to get 1 or 2 under contract. Also do you target short sales or do you focus on regular sellers? I know some REOs are out there, but they want you to get qualifed with their bank first so most of the time this doesn't work using transactional funding. I'm going to try to stick with regular sellers and short sales.

Hello,

I've been reading the forums and get the weekly emails about wholesaling and flipping. I want to make the first step on getting my first deal going. I'm a real estate broker, so I do have access to finding properties easier and faster and finding comps for the ARV value. I'm also good at finding what other investors are buying properties for in the area i'm trying to wholesale so i know what i can offer them for. I do have a list of about 5-7 investors who i can offer these properties to once i get them under contract.

I want to go after the regular sellers, properties that need some work. I know they say to take the arv x .70 - repairs - my profit for the offer price. now as far as funding the deal i've been looking at some transactional funders but there are so many out there i'm not sure which one to use that works? also i emailed my local title companies to see what escrow officer would be able to help me with these deals.

Eventually i want to buy these homes myself then do the rehab and flip them, but for now i'll be happy just to wholesale them.

any tips for real estate brokers that do this? i do help regular first time buyers and sellers but i really want to do this as well.

thanks for all your input.

I use this title company for my regular sales, I'm new to the forum, so i'm not sure if I can say the name or not? But they been around for a while. They just had a meeting with upper mgt because they had a lot of calls for this type of situation.

Hello,

I'm new to the forums and love the information you guys have provided.

I called my local title company and asked if they do double closings, and they said they don't and don't know of any that do in Northern California. Does anyone else have a source of a title / escrow company in northern california that does double closings?

I asked what if use the transactional funding source (most want same day closings) or 24 hours max. They said it would be hard to this because they need to pull a new title report which takes another 2-3 days.

They also said they don't take the "assignment" terms in the contract. Once they see that, they won't touch it.

So my question is what escrow / title companies in Northern California handle these transactions.

2) What transactional finance companies are out there with a 5 day time period? I know 1 day runs about 2-3 points plus an admin fee....

Thanks for all the help.

Sameer