All Forum Posts by: Account Closed

I'm just referring to the "handyman" discussion

@Curt Barbour @Lexi Teifke  I have a couple full time guys, so rates are lower, but I am thinking about subbing in some work, just curious what your idea of a reasonable rate from your handymen is?

@Linda Weygant Ah yes lol I completely blanked on that and was overthinking this, it is and has been their primary residence for years - thanks for the response!

Hope they aren't planning to use their "Zestimates" for the actual ARV....

Working on an unfortunate situation with a seller who paid more for the property 12 years ago than I'm able to offer today - they bought in 2006 and probably overpaid, then did not maintain the property, and then got behind on property taxes so there are a lot of penalties/interest. Seller is concerned with any taxes they may have to pay by selling the home, since they are already taking a loss. My guess is that there will not be any tax due, given the loss, but I wanted to confirm - obviously every situation is different but just looking for general advice. Also I know there are creative tax strategies but these folks are low income and are not going to have a fancy accountant working with them when tax time comes - so just looking for some realistic advice/general info I can pass on to point them in the right direction.

For the sake of having numbers let's say they bought for 40k, property is paid off, and after the sale they will walk away with only 30k. Given they are selling at 30k there would be no tax due correct, and really they could claim a 10k loss? Also is there any type of agency or other place I could point them for help filing their taxes and accounting for this at EOY besides a typical tax preparation place?

I've run into several situations where a manufactured home is needing to be moved/removed/replaced but have not gathered all the info yet - have read some other posts here and there but does anyone have experience or contacts for this in the area? Looking at a purchase now that involves the above

@Account Closed Your first post you told the OP "Tell them you’re a transactional specialist and you buy homes in the area." - based on her post and questions none of that is true, it just sounds better than the actual facts which is why it's the go-to, and is why every wholesaling thread has people posting the same kind of "how you should 'explain' the situation to the seller" but yes you did not explicitly tell her to lie you just told her to say something that is not true

Homeowners don't know what a wholesaler is but they know what a transactional specialist is?

Setting aside the question of legality - OP made it clear they are not actually going to buy this themselves, so getting a contract under the pretense that "if it doesn't meet my criteria my partners will purchase" is a lie plain and simple - OP was never going to purchase, there is only the "partners" which OP said "I'll be looking for a cash buyer" so there are no partners either....so OP is not a buyer and there are no partners currently, so in what regard is "I or my partners" a true representation of the facts to this seller? Furthermore how is OP a "transactional specialist" when it is apparent they have very little "transactional" experience. So on and so forth. Be honest is the short answer to the question that was asked.