All Forum Posts by: Sidney Watkins

@Dan Sarao

Which is understandable. My property is in the 44120 area of Cleveland. Duplex Properties in that area are selling for around 140K - 200K and buyers are buying for around 38K - 55K. I am more concerned with the wholesaling aspect. After I uncover all I can do I let escrow do the rest? I just give the end buyer full disclosure?

Thanks

Hey Guys!

Need your Help!

So I found a Duplex property that is a steal of a deal at 5K. I could potentially make 10K to 15K assignment on this deal if all goes good. So I was doing my due dilligence on the property. It's located in CLEVELAND, OH 44120 AREA. I am living in Columbus, OH so the property looks beat up and covered with moss but its a classic rehab.

But there is a problem.....

It's has an "Open Violation of Condemnation" and about 19 different violation to fix. Now I am to figure out how to structure the deal as a wholesale deal. I never learned how to wholesale code violations, but I would like to figure it out so that it would go smoothly (which is like a unicorn in the industry haha).

What I have done so far:-

I found out about the Code Violations about the sellers property before even speaking with them about it.

Found out by the city that it was on the Condemnation List.

And saw that the owner didnt pay taxes since the Violations were recorded 2 years ago so there could be a potential lien on the property as well which is minor.

Overall I dont know what I need to do on my side of the wholesale transaction. I know I have to give my buyer full disclosure on all the encombrances of the property to the best of my knowledge.

Is my job done? And could I just open escrow and find a cash buyer to wholesale it to?

If anyone in the CLEVELAND AREA that could give me some insight, I would be very grateful.

@Marc Maitre I appreciate the response. Hey you got two more than I do, haha. I have attended Deal Makers Sessions twice and I might just try COREE, that may be a good chance there is someone to take me under their wing or guidance atleast. And any help is appreciated, thats for reaching out, I truly appreciate it.

Hello Everyone.

I started my journey into real estate 9 months ago and its been a wild ride, from learning and taking action. I currently had a deal fall through on me me weeks ago. I got discourage but I'm determined to get to my first deal. I am a new dad and husband and juggling family life, work life and investing it stretches my energy drastically. I am an Engineer by day dad by night and a wholesaler in between time and I feel as if I need a mentor due to the fact that my daily life is so booked I would need someone who could help me stay on the right track. I am ambitious determined and self-driven and willing to work hard towards financial freedom. 

I have been trying to do wholesaling for free due to my financial resources being stretched to a point that I have to do wholesaling on a budget until I get my first deal closed. I do understand that everyone's time is precious and I would hate to waste anyone's time and I am willing to put in the work and come to a compromise with whoever would like to take me under their wing. 

I am originally from the Bahamas and would like to get into the market down there in terms of timeshares and vacation homes and I would love to find someone who would be interested in investing in the Bahamas as well. 

My only support that I have currently is myself as my wife thinks the structure of this type of investing is unethical. So, I try to push myself everyday not to quit and become another statistic of people who failed at real estate investing; I HATE TO LOSE. 

Also, if I could be of value to anyone else on this form please feel free to reach out to me, I love to help people and share my knowledge.

All the best to everyone in their endeavors.

-Sidney

@John Horner Thank you! I will follow up with it appreciate it.

Hey guys I'm wholesaling out of the Columbus, OH area and I have just started and I'm super motivated and excited. I am will to learn as much as I can, if anyone can point me in the right direction.  Are there any Wholesaler Meetup groups in the Columbus area?