All Forum Posts by: Trent Dues

 Hi Gladys, I listen to the BiggerPockets podcast on Spotify, but I know it can also be streamed through Youtube

Hi Brent, check out Scoot Mortgage on Facebook. I share office space with them in Chippewa Township, and they host events from time to time at the office where you can meet other investors and agents

Hi CJ, Greenfield neighborhood has a ton of duplex and triplexes, and is very convenient to Squirrel Hill and to the Parkway for quick access to downtown, with sale prices still being relatively low compared to neighboring areas

Lots of experienced brokers are on Bigger Pockets; being in Title, I enjoy working with Scoot Mortgage, who are licensed in 5 states including Florida. Their website is https://www.scootmortgage.com/ if you want to look into their services

Hi David, since you are wholesaling in GA, which is an attorney-close state, you will need to open escrow with a real estate attorney's office. If the A-B contract that you had the current owner sign calls for EMD, you as the wholesaler would be expected to put the deposit down with the attorney and once you have your B-C contract signed with the end buyer and the settlement closes, you would get your emd back along with the release fee. The other option is to market the property like crazy and get an end buyer lined up before the call for EMD is due as outlined in your A-B contract and have your end buyer make the deposit.

Hi Alec, Scoot Mortgage will be hosting a first time homebuyer workshop on February 28th in their Chippewa office. You can check out details on their Facebook page if you are interested in attending and potentially networking.

Hi Karen, when you find a buyer and have both signed the sales agreement, you will then open escrow with a title company. The title company will run a search on the property and determine payoff amounts for all mortgages, liens, delinquent property taxes and current year property tax. Since your property is in Philadelphia city limits, at the time of transfer, the title company will collect 3.278% of the sales price to be paid to the county and an additional 1% of the sales price paid to the state in transfer taxes. These taxes are typically split 50/50 between seller and buyer, but you can write it into the sales agreement if buyer is to pay the transfer taxes. So if you sell for $100k, $4,278 is collected at closing in tax.

In your scenario, the title company only needs to be licensed in Florida, since this is the state the property being sold sits in. The title company will arrange for a notary to meet with the seller in Pa and have the signed documents overnighted to their office to be merged with buyer documents. After the closing, they can wire or overnight your release fee to you in NC

Hi Kevin, The Meetup app, as Matthew recommended, is very useful. Also a good idea to search for Facebook pages in your area related to wholesaling and general real estate. Look for people on those pages mentioning that they are taking bids for contractors or specialists for work on their rentals, and message them to see if they are actively building their portfolios. That may lead to a potential deal.

Title companies can handle transactions in any part of the state(s) that they are licensed in; it does not need to be a company in the city or town the property is located. The title company will arrange notary appointments for your seller or buyer, and you as the wholesaler do not ever need to be present face to face during the transaction. Do you already have a buyer lined up? Most title companies will require a deposit to open the escrow, because there are out of pocket costs to run the title search, so you as the wholesaler will need to front the deposit and recollect after the closing. I would personally advise to shop the home really hard the next few days and get a few buyers interested before contacting the title company, just in case the contract with the seller expires and you could lose your deposit.