All Forum Posts by: Terrance Merck

I am wholesaling and recently assigned my contract to buyer. The property is owned free and clear with owner owing some taxes on property. I reached out to an attorney for closing and am currently waiting on title search and closing date. The attorney informed that process would take about 2 weeks. It has been 3 weeks. What is the normal time frame for  title search and closing process? Is this a normal time frame? The attorney informed that they also have other title searches that their researchers have and that I will be notified as soon as search is complete. In the meantime my buyer and seller are getting anxious. 

All input is appreciated.

I was recently introduced to a seemingly motivated seller who is currently interested in selling a 3 bed 2 bath brick house. He was using it as a rental but now would like to sell. We negotiated and agreed on a price. However when I arranged to meet with him with contract he seemed somewhat skeptical about signing stating that he did not want his property tied for 45 days, and that he was not satisfied with earnest fee. We met and I informed him that adjustments can be made, and that we could reduce time to 30 days, however I would need time for due diligence. I provided him with copy of unsigned contract allowing him time to review and decide how he would like to proceed. Has anyone dealt with this type of situation. Any advice on how I should proceed is welcome. Thanks in advance.

Thanks Ned Carey and Roland Paicely.

I recently secured assigment contract for 5 bed room 1.5 bath room sfh. I have sought out various ways to attract end buyers i.e. advertising Craigslist, and Bigger pockets, as well as contacted my short list of potential investors. I am in the process of building my network and have attended several REIA meetings, of which I plan to become more involved. With this stated what are the best ways to attract and maintain solid reltionships with serious investors. From buy and hold to flip in fix.

Great investment opportunity!!!

Would make a great fix-flip project

Requires mainly cosmetic updates, including re carpeting floors, painting. Some landscaping to improve curb side appeal is also appropriate.

Solid structure with great bones

Needs TLC

Price $48000

After Repair Value (ARV) $100000-105000

$Cash buyers$

Everyone thanks for the feed back and advice. I am soaking it all up and  surely will put into practice.

Thanks for input and advice. I will definitely keep it in mind.

An older gentleman responded to my cash for houses bandit sign. He states that he has 6 properties that he is interested in selling because he and his mother are unable to manage them. We are scheduled to meet and I would like advice on how I should approach potential deal. Any advice and/ or suggestions are welcome.

John Holden thanks for advice. I definitely was and will look into master leasing and owner financing. They both seem to be great options.

I met with a real estate agent on a 6 unit 1 bed 1 bath apartment building. I am informed that the owner is the original owner of building and has had it since 1986. Agent informed that the owner has been hands off for about 8 years, his health is not so good, and pretty much just wants out. It is a grade C apartment,  rent between $375 $425, is half occupied and could stand some upgrades. I haven't made an offer and would like advice on the best course of action to get property under contract.  It has been on market for a few months and the asking price is $125000, but the owner is motivated and flexible. I was thinking of either  getting property under contract for $70000 and either wholesaling property or rehab, stabilize and maintain rent at 400- 450 mark. All thoughts comments and suggestions are welcome.

Thanks in advance