All Forum Posts by: William Spencer

It sounds to me like a listing agent submitted a short sale request to the bank on behalf of the seller and the bank approved it ... pending an acceptable offer. If I'm right, you can offer whatever you like. The bank will either accept it or not. (I agree with Mark). I've bought a couple of these in the past. I usually submit an offer I can't refuse and see if they'll except it. If they do ... the deal is real.

Hi Everyone,
I'm a new wholesaler in Houston and I have not become an LLC yet. I have two short sale deals I'm working on and I've read some posts (Bigger Pockets) that recommend doing short sales transactions under an LLC. My question is: What are the repercussions or fallout risk of doing the deals in my own name?

Will

I don't know if you're still checking replies from this post, but I'm in Houston, TX also. Send me a PM ... I value networking.

Hey Everyone,
I am new at real estate investing and decided to start off wholesaling. I joined the local real estate investment club after reading a book I bought, and by now I feel pretty comfortable with the process. I met with a seller this morning (waiting on my offer) and I have 3 other appointments to walk through houses this weekend. My question is this:

In the book I read, the author recommended a formula for estimating the repair cost in order to arrive at the ARV. But I remember seeing somewhere during my research, a repair cost estimating tool ... I just can't find it again. Does anyone know where I can find one that's available online for free? The one I saw would allow me to refine my repair cost (be more specific) before I make my offer to the seller and I believe that can make a big difference in my negotiations. If not, please feel free to offer any practices that work for you. Please help.