All Forum Posts by: Burt L.

I saw a boarded up house in a very valuable are, and its owners address is listed at the same house.

When running a report at TLO, it gives me phone numbers that don't work, and there are no other previous addresses or relatives still living, in the TLO report.

 I have hit a dead-end here. Have you any other suggestions on how to reach such a person? I haven't knocked on doors as someone is doing a flip right next door and I want to create competition. I have also seen Sean Terry's suggestion of putting a "for sale" sign in the front yard, until the unhappy owner calls to see why you are selling his house, but my phone would blow-up on this house.

Any other ideas on tracking people down? I don't know if a private detective could get better info than TLO.

Much appreciate the tip on getting estimates from both a large and small company - hadn't made the connection between the size of companies. With retrospect, I can see estimates from larger companies also tend to be larger, but also a greater chance they will continue to be in business, in that same business form, if the guarantee needs to be followed up on.

Sadly, I am no longer involved in this deal. The seller is also a past buyer of mine, who wanted to try his hand at wholesaling. He couldn't get access to the house with the tenant there for showings (welcome to my challenges - I buy the tenants off for showings if its good), so he chose to close on the property, tried to sell it again, but decided to keep it as it is still a cash cow in the Colorado rental market.

A previous owner did the addition before records were kept, and it is included in the square footage of the house, according to the assessors current records. It would be hard to accomplish today, but its legal and needn't be taken off, other than for its obvious issues.

I

Nicely done self-promotion.

I have Tulsa wholesale properties available for landlords and a couple in the pipeline that are better  for flippers. Various sizes and conditions.

Let me know your needs.

I have a house to wholesale that has this badly cracked wall and has been scaring away the first buyers. This house originally had a carport here, that a prior owner had it "bricked in" and a bedroom and laundry were added inside this wall.

The ground visibly slopes toward this wall from the house next-door by nearly a foot, which is uphill from this house. It likely needs a French Drain, as I believe they are called. I don't see cracking on the foundation underneath this wall, though there are some older cracks on other unfinished basement walls but this crack is fresher as shown by the paint being opened up since last painted.

I don't know how these repairs are done, and if the entire wall has to be torn down and rebuilt or not. With a  repair, I supposed it could be trimmed out and covered as there are no windows on this end of the house. Everyone seems to run when there are cracks, though some more experienced investors seek these out, due to discounts.

What can I suggest to buyers that this wall that was a bricked-in carport, will need for repair?

Ah - a post happened before I posted mine; thanks. I will call the title company and see how badly they will beat me up on fees!

Does there seem like anything to do besides a Triple Closing? I'm not so comfortable with doing the LLC sale approach in Step B of the proposed transaction, and I suspect an end-buyer wouldn't be as well.

While I've had a few years full-time experience as a wholesaler, I have never co-wholesaled someone else's deal before. I have a buyer for a house the owner dug the crawlspace out and removed the dirt for a full basement, but now wants to sell in it its current condition - an excellent wholesaling candidate.

The person who holds the contract holds it in an LLC, and it is not an assignable contract. I nearly always double close as I see it as relatively cheap insurance against last-minute, costly surprises. If an assignable contract, the title company had said I do my usual B to C contract and have the person with the contract assign it to me. In this case I cant do the assignment as part of the A to B and so am looking for a work-around.

I'm sure neither party would like to have me in this deal but the contract-holder doesn't have a buyer and I don't want to end up just introducing them and getting cut out or having either side complain about my fee as closing approaches, which wont be out of the ordinary but will be something to complain about as there are extra people in the sale. Additionally, the owner has a broker who is involved, though it is not listed. The person with the contract found the  seller from a Craigslist ad, and the owner is out of state and somehow has a broker representing his interests.

I foresee a showing with a broker and two wholesalers, which is just ugly, even though this buyer likes foundation-issue houses. The person with the contract wants to sell this disposable LLC in this sale as its not assignable - just the setting I double close in, instead.

I see all of the elements of a messy deal approaching, and want to be able to close and keep the fee unknown, as I do with nearly all my closings. Do you have any suggestions -  I don't want this to turn into a bad country song, in real estate terms. Thank you.