All Forum Posts by: Account Closed

If I have a valid contract, then I do have equitable interest in the property. But wholesaling MLS properties is difficult because they potential buyer can easily look at the MLS and see you are selling it for more than it is listed, if you want to get paid. They only way it can work is if you have a contract far below the MLS price and then trying to sell it below the listed price.

Hi Brett, I host a monthly BP Orlando meeting and you can meet many other local investors. Our next meeting is on Jan 10 at 6:30PM. Here is the link to the info about the meeting and registeration link. Hope to see you there.

https://www.biggerpockets.com/forums/521/topics/38...

No I only dealt with seller and buyers. I was the wholesaler. 

@tim 

@Tim Vallee I had a license while I was in St Louis but I let it lapse and continued buying houses as an investor. I never TOLD anybody about any deals unless I had it under contract. Depending on the condition of the property I either sold it to another investor or to an end buyer if it did not need much work. But I always did a double closing. 

@Jeremiah M. what do you mean by a deductible? All my offers are with all cash.

DON'T tell them you are a wholesaler, that will for sure turn them off. Approach them as a buyer only. @Chad Naugle said it beautifully. 

Don't worry about holding costs because it will vary depending on what the buyer is wanting to do with it. Let me calculate it themselves. But show them your specific calculations for the rehab. 

you have to do the research to find out what mortgages he/she owes on the property. You should be able to get access to that info by going to your counties recorders of deeds and search by the owners name, then looking through the documents. What do you plan to do with the property once you get it?

What do you mean? Any pre-foreclosure is fair game but now that I'm in Florida I don't do any preforeclosures unless they are zombie properties. It's because it can take several years to come to a conclusion on them. In Missouri it was only 21 days.

Regular contract and yes it is assignable but I always did a double close.