All Forum Posts by: Victoria Riggs

It is in upstate NY in Dutchess

Thank you Patti for your reply.

Can anyone recommend good hard money lender who can lend in NY and provide with a legitimate POF?

Hello,

I have a deal asking price $29,000 and ARV is $ 150,000 and condition is not that bad.

I want to wholesale or partner up on this deal, can you recommend a good source to get a POF or a bank statement? I've heard POFs are not taken seriously.

Thanks for your advice,

Victoria 

I think Buffalo has the same laws as NYC- you have to use an attorney to draw a contract before you can give it to the seller.

Thank you Jose for your response. It means I dont need an attorney to give a contract to the seller?

This makes a process much easier than in NYC.

Hello,

Is anyone knows laws in NJ about real estate contracts? Should the sales contracts be signed by the attorney? Can you give generic sales contract to the seller and ask him to sign it?

I know that in NY you can't just give a contract to the seller to sign, the contract has to come from the attorney.

I have to block you   @BrentCoombs

Your sarcastic response is really out of place here and is not professional. Please do not post any comments on my blogs anymore.

Victoria

Thank you @ Michael G for your great business insight!

There were may be 4 or 5 investors not 10 like I said ( I was using figurative speech ), which is still a lot. I get leads from marketing to probates like you said and make an appointment with the seller to see the property.

I don't feel comfortable with asking the seller to sign the contract saying " Assignable" because the seller will get other contracts that are not assignable and people are real buyers not wholesalers. Also the person handling the estate is dealing with her lawyer and I dont think her lawyer will advice her accept the contract that says "Assignable".So what I do I ask the buyers- rehabbers to come with me to the appointment and they do all the negotiations. As you mentioned not all buyers are good and competitive, I happened to deal with  buyers who like to lowball and this is not how you can compete. Also in the recent case I think buyer's business practices cost them and me a deal.

Well, that's what it is. May be I will find better buyers and may be I will use other investment techniques, not just wholesaling.

THank you  @Missy and @Melissa for giving me positive suggestions. I know that Upstate NY and PA offer a lot of opportunities for the investors and may be not as competitive. Which is a great option!

I also heard that there are a lot of successful investors  in NY, Long Island and in NYC so I am going to be persistent and make it work here.