All Forum Posts by: Thomas Weir

I concur that there will be some cash in the deal, but it doesn't have to be yours.

Haven't heard of "Housejerk" but will stay tuned. I have noticed in my area that properties are going for more than they're worth.

Most lenders wont allow you to assign the contract, and if the have 30-90 day seasoning on it. Then buying in the LLC and selling it is the only option to flip it

Most companies would require you get a landlord policy if not OO. Your tenant can get a renters policy if they would like.

Congratulations, I'm sure you'll do well. There's nothing wrong with educating yourself first to get the confidence and focus you need to do the business. 

In the Tampa Bay Area, the REO agents are just saying highest and best and sitting back licking their chops. You do have a chance if there's not to much interest or offers on a property.

@Jerald Alford LOI's are pretty standard on Apartments whether it's listed with a broker or not. The LOI should lay out what your willing to offer and if they accept it then you do the contract. The good thing about apartments is that the closing date is usually 30 to 90 days out giving you more time for due diligence. This also gives you time to find a buyer if wholesaling

Thanks @Brian Gibbons ,

Good info, hope you don't mine me downloading also :-)

Not a bad idea to rent it out if it's not selling right now and the rents enough to cover your expenses.

It may be a niche worth looking into, but it can be costly if there's not enough demand for it in your target area