All Forum Posts by: Tony Roberts

This is me lol

@John Farady

Thanks for your comment.  That was fire!

@John Farady

Thanks for your comment.  That was fire!

Long story short I came across this lead where a guy owes about $8000 on a water bill after the tenants cut on all the water and left as revenge for being evicted. The property value is maybe $5000, its in really bad shape after that. Needs windows, paint, exterior, interior...it needs everything. The owner has it in an LLC and just wants to make $1 from the sale. It looks like the only solution that exists means him bringing money and maybe reducing his out of pocket cost.

What do you think?  Any details you need to figure an angle please let me know.

I hear what everyone is saying.  SURE I'd like to be in the position to close on the home or tell them with 100% certainty that I will buy their home but If I'm being honest.  No, I'm not.  I'm using my connections and circle of people that I've worked to market their property for a higher price.

If I'm being honest I would tell them I'm "flipping a contract" (like someone else said) but that's not easy to explain and if you're explaining, you're losing.  So, while telling them "Hey I want to secure your property at a discount and then sell my equitable interest" sounds awesome....as awesome as bamboo under the finger nails 

I've seen it on both sides so lets settle this here and now.

*Slides weapons across the floor*  

One side says if you offer them options of what you're planning on doing that keeps you in the clear.  Something like "Buy and Hold, or Flip or Sell to an investor I work with".    The other side says to just be honest.  That would be something like "I work with an investment group who are looking for deals like yours."  

First of all, which do you lean toward?  The option approach or the get all the cards on the table approach?

Second, GET THOSE WEAPONS OUTTA HERE!

It seems like wholesalers get a bad rep.  As soon as you make an offer they go "Are you one of those Wholesalers?"  

So BP fam.  Drop some jewels, I'm tired to searching for threads from 10 years ago with 2 responses.  Give me what you got!

Wow, How did this end?

Picture it, You know a Realtor who works with Investors.  You tell them that if their investor buys with you then you will kick them back some money.  Dont call it a kick back tho, that just seems like a bad idea.  Can you legally do this without raising any red flags?  As a realtor, are they prevented from such actions?

I just dont want to offer something like a finders fee and then have the National Association of Realtors Swat Division to rope slide through my windows.  Has anyone had any success with something like this?

@NaDean Bowles

Thanks for the insight. Especially the part about the Trust to give them some side money that doesnt interfere with their current situation.  You asked all the right questions that I didnt AND gave the reasoning behind it.  Much appreciated!

And Yes!  We have $50 - $60k homes that rent for $1000 in Baltimore.  If you want to partner let me know ;-)

@David Martin

Yes, I think that's the right scenario but I'm a newbie and have never done one before. Just trying to see if I have the foundation of it right. I appreciate every response. Each one is giving me a little more insight.