All Forum Posts by: Elliot Lamson

See you people tomorrow!

Only looking in SoCal? I feel you have to go north of a million or look at teardowns to be competitive. The market is so saturated with investors looking 200-700k range. I'm not looking like i was i've moved to other markets outside of LA. If you PM me your email i can put you on my buyers list if something comes up locally. 

Red door is super legit! great job!

Looking for recommendations for a good insurance company for fix n flips that loans in multiple states. preferable ones that allow month 2 month. 

thanks!!

Forgot to mention the EMD is $10,000

Hello BP, My partner Dan and I have a great wholesale property in Merion Station PA.

Average Days on market 4.6!!

Average sold price per sqft is $224 bringing our subject property to a value of $984,704. We are using an extremely conservative ARV of $919,000

Rehab Bid is attached.

Comps attached.

School system is 9's and 10's! (same school system Kobe Bryant went to)

We have all the contacts you need!

Contractor, Realtor, Property Insurance, HML ect.

Let me know if you have any questions or would like to view the property. 
Our realtor is more then happy to let you or your contractor walk the property! 

Thanks,

Investor Packet HERE.

I'm aware of non-refundable emd with wholesalers just never heard of an agent trying to tack on 3%. 

Seems like her cut on the deal would be between the wholesaler and her. 

Also she knows i relist any property she finds me. 

So iv been working with a realtor out of state. and she said she had an off market listing for me. She said the listing was going to be for 170k. i ran my numbers and the best i could pay is 138k she tells me they would accept. I made the offer blind was going to get it under contract and then was going to have my contractor walk it to make sure my rehab est was close enough. A few days later before i had signed anything she says:

"Also, I was informed that since it's off market, seller is not paying buyer's agent commission, as customary. Are you willing to work this 3% into the purchase price?"

Is this common? i have never heard of it before. Wouldn't her fee be between the wholesaler and her sense she found the buyer? 
I said sure but it was going to make the numbers really tight. i was planning on having the contractor walk it and if need be ask for a price reduction. 

A week goes by and i just now find out its a property from a wholesaler. I never got any type of IP or even seen a picture of the inside of the house. 

Seems kinda shady to me and she was just trying to dbl dip. but maybe its a common thing. 

bump

 Thank you!!