All Forum Posts by: Sonia Roberts

The option money may be non-refundable but the amount will or will not be credited back to you if you do close on the property.

Another item you mention is disclosing a defect-Texas has implemented some very harsh wording that states the Seller has to disclose, and if by chance the Realtor is aware of the defect they need to make sure the Seller has disclosed-lets face it we are all scared of any legal action.  In Texas, with most Sellers, a disclosure is required and this is where any defect can be noted. Once a Seller becomes aware of a defect, they have to disclose.

I would suggest in the future to have the paperwork filled out and ready to be signed, any changes are easy enough.  The problem with giving them time is now the very real possibility that they will shop for another investor and they know some of the numbers.  I hope it works out in your favor since you did quite a bit of due diligence.

Good Luck

Well Konrad,

As a Realtor myself, I know what it is like to put a lot into a deal and things just do not work out.  Even though we know it is part of the job, an acknowledgement from the client would be appreciated-just know the limitations that may be in place by your state.

Be assured you will get that same level of commitment each and every time you use his services.

Sounds awesome if it indeed works out.  I did have a house for sale on Zillow and someone-a scammer, had my house listed for lease and they were asking for a $1500 deposit to be sent to them, but here you are covered from money out of pocket if you open escrow and Title is checked.

Good Luck

Short sales have been time intensive endeavors with many of the lenders.  Seems that there are big turn-overs of the asset managers, one of my clients had counted and he was on his 17th. If you are diligent and get the right contacts from the lenders side these can turn out to be very profitable.  But know that sometimes they still end up in a foreclosure which to me, just wastes everyones time.

@Joe McCall

I did want to weigh in on the suggestion to become a RE agent, I was in Valerie's same situation a few years ago and did get me license.  There are several factors though that have to be considered: the amount of money needed and the amount of time. Should I have factored all of that in at the time,that is not the route I would have gone, you can get a very good Realtor on your team once the need arises while you are continuing to self educate yourself.

Want to wish you the best of luck. 

Another issue to consider is the funding source of your end buyer-they may have their own requirements as far as how the closings are done.  Just have several Title Companies available to work with, that do work with investors.  But do go get that deal, Good Luck

I do agree with everything that Hattie says except for the Roundup-because as she states it does kill everything and stays in the soil for some time.

Otherwise good luck to you

A Big welcome to you.

Might make more sense to keep the land and find other ways to leverage your future investment deals. Curious about the size of the land, we have a nice size tract we have been looking at different options for.  Believe it or not a trailer park keeps coming up as a possible money maker. I have actually talked to a group that partners or purchases tracts in the Austin area I will see how far they extend.

Good luck to you and your growing family.

Sending out a big HELLO.  Seems I started answering some of the questions without first saying my hello's. I am a Realtor in the are and just started investing even though I have been reading up on the process for many years-just afraid to jump in completely.

Looking for an investment partner with capital and as much education as I can sponge up.

My first Meetup with an investment group is where I learned about this great site so I am still sifting through all the great information posted on here-so want to thank those individuals that take the time to share.