All Forum Posts by: Jared K.

It took me 6 years to buy my first rental but I started studying real estate investing when I was 20 and wanted to wait until I was well informed, confident, in a financial position to do so, and found the right property I felt somewhat comfortable buying.

I have owned that property for over 10 years now and I am glad I prepared myself with good knowledge of screening tenants, taxes/bookkeeping, rental laws, purchasing rentals (multi unit), contract law, and my local market for sales prices and  rental rates before I purchased it. I believe it was a big help.

Best of luck!!!

@Nathan Paisley Yeah I called my title company but no return call this morning yet. I figure they will find a solution as you said b/c they all wanna get paid. I will try and let everyone know how it plays out!

@Wayne Brooks I have not heard back form my title company yet this morning to get any answers. My buyer is not aware I am using his funds as of yet but had not heard of those docs either. I figure it will cause some difficulty but I will press forward and figure it out. Thanks for the insight!

@Nathan Paisley Yeah that's my plan so far..lol. I have called my title company but they haven't called me back yet so I can discuss the scenario. I believe it will all work out fine no matter how we have to do it but it's an uncommon scenario for me and I know others have had to end up in the same boat. I told my buy it may cost him more to do it this way but he wants to use them to make it cheaper also so we will see what happens. I plan on keeping you folks up to date!!!!!!

I appreciate the encouragement and I always make it happen!!!! Like that though :) 

@Scott Franklin Yeah I know the buyer can use whatever title company and don't have a problem with that. Any answers to the above scenario for previous experiences?

My buyer is paying all cash also in case your wondering.

So here is the deal!! I have wholesaled several properties but this one is a little different. I am going to be doing a back to back closing in another state other than mine at a title company that has been doing the work for my purchase. All is ready to transfer to me then my buyer. My buyer wants to use his title company to transfer the property to him, which is also in another state of HIS residence, b/c they are cheaper, he is familiar with them and they handle all his transactions, paperwork etc and he trust them very well. My buyer will be paying all transfer costs

If I plan on using my buyers funds to close the deal for me at MY title company I would rather him send the funds directly to my title company, which he might, but if he doesn't want to do it that way, then what??

Will the 2 title companies collaborate to get it done?? Is this a common scenario you guys face also b/c its not been for me??  I believe I have seen this topic but I need suggestions asap b/c this is taking place today!!!

What has been your experiences in this situation?? How did it turn out?? Best solution??

@Johnny Powers 

BP is a great place for resourceful information!! Only quick advice I can give is learn several approaches to cash flow analyzing properties, use the most conservative ones, and make sure all your #'s for each property provide a good solid ROI (return on investment) and you should be fine. If the #'s work they work! Glad to see your approaching carefully. In the same sense don't get caught up in information overload and keep moving forward!

Set a goal, and actual date, say a particular month or quarter this year, that you plan to own your first property. If you set a date (and move forward with definite plans) it should help you move past the fear, knowing you have to get the job done, and you will be motivated to find one that fits your investing goals!! If you don't set a specific goal and go for it fear will hold you back from actually getting started. Part of learning real estate investing is from just doing it. Everything has a learning curve but you will push through it once you get started and you will be glad later on that you did. Just like anything, you have to take the good with the bad and move forward.

I wish you all the best and thanks for the reply!!!

@Johnny Powers Hello and Welcome!!!!! I wish you well on your venture!! I have done a little bit of wholesaling, buy/hold and buy/resell there in Toledo myself. I am selling the last one I have there currently to another investor. Toledo is very diverse in home prices that's for sure, from block to block prices can take a huge jump!!! There's a lot of opportunity there if you really get to know your market and the right people to deal with. Be sure to get plenty of references and do your research. Some people there are great to deal with and some there will take you in a heartbeat!!!! 

Best of luck!!

Yes, there are online cash buyers. The key is to find em all or have them find you!!! There are MANY techniques to finding buyers for your property, too many to mention. There are many free resources online to learn how to find them and there are many expensive programs that promise to show you how to find them. Not sure if the programs are worthwhile or not but I have sold properties to online buyers myself. I believe it is a "they find you" more than a "you find them" situation, for the most part. It just depends on where/if they are looking for properties and find it. 

I am always looking as well so it will be interesting to see what gets posted here. I hope some people post things that they have actually tried!!! I may start a post myself about something similar to have everyone post their ideas that way we can all learn from it!!!!!