All Forum Posts by: Vanessa Ramirez

And in cases where I need a contract put on a house, I would use an RE agent, but then would there be any compensation for that agent if I end up wholesaling the property? How does that work?

I think I understand the big picture but all the smaller details involved are where I worry. I want to make sure all is fair, legal, etc.

Thanks,

Vanessa

Our plan is to buy, rehab, and resell, although I foresee a time when we may need/want to wholesale a property as well. So if a property is closed on, the standard 6% would be paid to the agent(s) involved and paid by the seller or by us if we plan on offering 'no closing costs' as an incentive?

Hi,

I am just starting out REI and am about to launch my first marketing campaign to find properties to flip (or wholesale). Once I'm ready to put a contract on a house, am I correct that I need an RE Agent to take care of that for me? Do you usually pay the standard 6% commission at the closing of any properties you end up purchasing? How do you manage this piece of the puzzle so I know what I should expect or ask for?

Thanks,

Vanessa

We currently have no stake in the property, but we are definitely interested. I actually would love to hold on to it and rent it or live in it and rent my current residence, but I think we most likely will need to flip it. There are renters in the house now (for the past year), so I'm not sure what the owners have been doing with those rent checks.

-Vanessa

Hi,

My REI partner and I are considering making an offer on the house next door to my current residence. ARV would be about $145K. It is about to go on Short Sale and has foundation issues. The owner bought the house in 2006 and I believe started having trouble about a year ago. 65% of market value would be $87K. We were thinking of offering $80K to start. We are located in Round Rock, TX (Austin, TX area). My question is do you think we stand a chance of getting the property on short sale with this offer or where would you start if it were you?

Thanks,

Vanessa