All Forum Posts by: Somaya Abdelhadi

@Yonah Weiss

Thank you for your response.

It is indeed a residential property, the title had some affidavit of heirship issues with the previous owner. But I didn’t get to know that was the issue until I called another title company and told them I’d like to switch everything over to them which was soon after I posted. It was smooth and honest. Nothing like the company I was dealing with. However I work virtually. So that was in Memphis. I would love any recommendations of attorneys that are investor friendly in NYC.

Thank you again

Serious question about title companies. We’ve been calling our title company and the specific agent working for us since we started the process. We signed papers almost 2 months ago. And our agent has been dodging our calls. Not giving us a closing date. We finally got a hold of her 2 weeks in and said there were title issues with the title chain. So she needed to contact previous owner etc. a month later we still have nothing. We keep calling and they keep saying she is busy or she is out or she is this and that, however she never calls back. In the past two months we’ve spoken to her 3 times...We got the previous owners information. Even the lawyer that was the middle man for previous owner and present owner. My question is, is it possible to change agents, or even changing to a complete different title company if it’s been this long. Anything will help thanks .

@Omari Toomer

Hey, we used them for this past list we received. All the phone numbers they gave us were bad. We skip-traced over 3000 numbers with them and none were correct unfortunately.

@Sean Tagge

Thank you Sean I appreciate you taking your time to explain that. We realized even 500k is a far stretch he believes his properties are worth more then what they really are. But 380 is a good guide on where to start.

@Ray Johnson also all the homes are constantly updated aka cosmetics he has a common flow of tenants and every time one leaves the home its updated by the property manager. Homes are all in good condition. However, the price needs to be brought down drastically.

@Ray Johnson Hey Ray, thanks for your response me and my partner needed some guidance. As of now we have a buyer we just are trying to get the price lower and speak to the property manager because the owner isn’t in the state. The homes are way too overpriced which is why he’s selling them in a bundle some aren’t in great neighborhoods. Once we get a solid price and can get it under contract. I’ll be sure to update this forum !

Thanks again truly appreciated

@Temil Marmon

Would you recommenced finding an investor and selling it as rental properties ?

Hello guys, so I have a seller who offered 10 homes for 500,000 all together he says the Zillow estimate for the combined properties is $780,000. All are rented except for one and they bring in $7,560 a month. My partner and I are new to this, we just bought a list and began cold calling. We are trying our hand at virtual wholesaling in Memphis. Somehow we stumbled upon this and I must admit I was not expecting something like this out the gate and I’m just trying to wrap my head around it.

So obviously, I have to look at the comps on each one and figure out how much they’d be worth all together as a bundle. But how do I go about structuring this deal and will cash buyers be willing to buy the bundle? At first glance the properties don’t seem to need much work based on the Zillow pictures. He also said he doesn’t really want people walking through the property and disturbing the tenants, so how would that affect this whole equation?

If you are familiar with or have experience with this type of situation feel free to comment or message me. Any advice is welcome!! Thanks in advance

@Shaun Morgan Hello Shaun, the term long distance wholesaling is actually just called Virtual Wholesaling in a sense you can stay home and do everything virtually! So if you ever tried googling long distance and it didn’t come up Virtual Wholesaling will come up and give you loads of information there are a few wholesalers on YouTube who do “long distance “ search up Max Maxwell & or WholesaletoMillions ! Wishing you the best of luck!

How about double closing James? I purchase the property and then sell it. Is that illegal as well.