All Forum Posts by: Sterling White

This post is mostly to help the newbies coming into the market. For the experienced investors what has been your biggest failure(learning experience) you ran into while in your journey in Real Estate?

My biggest failure(learning experience) happened when I had a deal under contract with a seller. When it came time to sit down and go over the purchase agreement I completely butchered it. This led to the seller backing out and going with someone else. **Lesson Learned**

I have found more people talk about success, but we know it's the failures that help us grow the most!

Love to hear others stories

Love your enthusiasm @Jordan Dekker! It's awesome you are thinking in depth of your future. 

Best time they say to experiment is in college!

Im born&raised in Indy and build up some knowledge in the RE field so if you have any questions don't hesitate to shoot me a DM

I am doing my first rent to own on a recent property purchase. Would like some insight from others who have had success with this process

1.) How do I pre-qualify prospective buyers (lead calls from my "Rent to Buy" posting)

2.) Structuring the lease -600 rent with 200 credit to purchase price/option to purchase amount of 2k down-

3.) Do I need to go through mortgage broker to make the process move along smoother?

Feedback is greatly appreciated 

Would like to thank everyone for their input. There's always plenty of deals out there just wanted to persist and make this one work.

Just another learning experience on the road to mastery.

Thanks all 

"Do the thing and you shall have the power" -Ralph Waldo Emerson-

It has been a month of going back and forth with 2 heirs who are not cooperating(maybe even longer now that I think about it). 

@Rick H. I don't believe there is any LBP or black mold however I could have missed it during my walk-through.

Once this goes into foreclosure it will be eaten up by the competition(pricing war)

I planned on renovating the property to sell. At this point I absolutely had no way of how to compensate the heirs. 

The lawyer is doing it for free for them

Hope I answered your question correctly

Sent a letter to a home owner one month ago. Received a call that they want to sell. Turns out the property is still in the name of the deceased parents in which they owe 70k on the mortgage. The house is in pretty distressed condition. There are 5 heirs in which two want nothing to do with the property. The lawyer needs all the signatures to move forward in doing a possible short sale, which two heirs will not comply(because they may not get any profit)

I do not want this property to become foreclosed upon.

Any recommendations? 

Thanks a lot @Ryan Mullin for your support! It's greatly appreciated 

This is for the uses of a rental property

Fudge yea Ryan! Your input is greatly appreciated

Best 

Sterling