All Forum Posts by: Brandon G.

@Jay Hinrichs , @Ned Carey , @Kris Haskins ,

Thank you all for the information. I've never bought a house before, so forgive my ignorance here, but can someone tell me how closings are done in Texas: closing attorney or title company?

@Rick H. Thanks for this post! It will take me a bit to wrap my head around the info here, but I think there is gold here. 

Would knocking on doors like this be considered soliciting? Some people have no soliciting signs and some whole areas here have prohibitions against it. Would doing this violate that?

@Pete T. I hope I did not give the wrong impression. I want to clarify that I don't even have an intention of becoming a wholesaler, and so I likely will never even assign a contract. However, I am in the process of learning real estate investing. I know nothing and want to learn as much as I can. Therefore, to me, it actually does matter.

@Account Closed I appreciate the info!

If I wholesale a house to another investor and assign the contract to the investor, what information is visible to the investor and the seller?

For example, can the seller see the name of the investor who is buying the house, and vice versa?

What about the prices? Can the seller see the price the investor is paying and vice versa?

@Hasan Hamdan Thanks for clarifying. I must have misunderstood because I thought @Jerry Puckett was using some of the questions to weed out properties which clearly couldn't be a deal.

@Account Closed I'm a complete newbie and so I know you are much more experienced than me, but if a person has a house in an area where houses are worth about $150,000 but they owe $145,000 on their mortgage, wouldn't it be safe to say that we know this property isn't worth taking a look at unless we're looking to short sale? Would you go have a meeting with this person to do your due diligence? 

To be clear, I'm not asking how to value homes over the phone. The purpose of my question is to find out how Jerry weeds out houses which likely are a waste of time. It was my understanding from his podcast that he does indeed do that, unless I missed something. 

@Account Closed Thanks for the reply. I know for sure before committing to purchase that a thorough inspection is necessary, but what I'm hoping to find out is how @Jerry Puckett and others use questionnaires to weed out over the phone the sellers whose properties aren't worth inspecting.

Thanks for all the help everyone!

@Jerry Puckett Thanks for the detailed reply. So during the phone questionnaire, if they say they have a 2000 sq ft house, you figure $15 as the preliminary per square foot repair estimate when vetting?

In your script, you ask them how much they think it would cost to get their interior and exterior up to a 10. Do their estimates figure into your analysis at all when vetting, or is that just prepping them mentally for the lower offer?

I read @Jerry Puckett 's script that was posted and it's really a big help! When asking them what they think their house is worth and how much repairs it requires and how little they would accept, and how much they owe, what are some good rules of thumb to determine if they qualify for a face to face meeting? 

So if based on the conversation, we believe the house can sell for $150,000 and I want about $20,000 on the deal, what is the most they should owe on the mortgage before we move to the next step?