All Forum Posts by: Jimmy C.

Quote from @Account Closed:

Quote from @Jimmy C.:

Quote from @Account Closed:

Quote from @Jimmy C.:

Buying subject to deals are more likely to happen off market.  I'm surprised how many Realtors were chiming in upset about Ken simply saying that its advantageous to buy direct from sellers.....   

I've not seen many listing agents that are helpful at presenting a subject to offer.    It's rare that they do anything creative, right?  I know there are exceptions, as I did buy one deal subject to from a licensed agent.....but it was his own property, and not a customer he was representing.

@Jimmy C.: Now, you're the kind of agent I can work with and refer on to buyers/sellers. You get it. 

I can imagine sending leads to you. The other agent posters, although fun to debate back and forth, don't possess the intellectual curiosity to figure out how to put an investor and a seller together in the best of both worlds approach. Problem solving.

To be fair, most brokers would shy away from the subject to offer because of fear of liability.    They'll imagine the possibility of a buyer not making timely payments, and a seller hiring an attorney to sue everyone involved in the transaction later down the road.   

That's why it makes the most sense for you to make these types of offers without a broker between you and the owner.

You are absolutely correct. There is liability, especailly if an agent got in between a buyer and a seller in a bad deal. I would not recommend that an agent broker the deal. But, it may still be a valid deal for the seller and the buyer without an agent inolved.

Here's the thing, anyone that limits their investing to "Subject To" only, is foolish and wasting opportunities. There are Cash, Wraps, Seller Financing, Carrybacks, Contract for Deed, Lease Options and of course, FHA, VA, Conventional loans, HELOCS and commercial among other approaches.

But, if I said that, the other agents wouldn't comment and hits to my website would decline. Lol :-)

For some reason "Subject To" elicits responses like a steak to a Doberman pincher.

Hey if it's working, no sense in changing anything.  Lol

Happy hunting out there

Quote from @Account Closed:

Quote from @Jimmy C.:

Buying subject to deals are more likely to happen off market.  I'm surprised how many Realtors were chiming in upset about Ken simply saying that its advantageous to buy direct from sellers.....   

I've not seen many listing agents that are helpful at presenting a subject to offer.    It's rare that they do anything creative, right?  I know there are exceptions, as I did buy one deal subject to from a licensed agent.....but it was his own property, and not a customer he was representing.

@Jimmy C.: Now, you're the kind of agent I can work with and refer on to buyers/sellers. You get it. 

I can imagine sending leads to you. The other agent posters, although fun to debate back and forth, don't possess the intellectual curiosity to figure out how to put an investor and a seller together in the best of both worlds approach. Problem solving.

To be fair, most brokers would shy away from the subject to offer because of fear of liability.    They'll imagine the possibility of a buyer not making timely payments, and a seller hiring an attorney to sue everyone involved in the transaction later down the road.   

That's why it makes the most sense for you to make these types of offers without a broker between you and the owner.

Buying subject to deals are more likely to happen off market.  I'm surprised how many Realtors were chiming in upset about Ken simply saying that its advantageous to buy direct from sellers.....   

I've not seen many listing agents that are helpful at presenting a subject to offer.    It's rare that they do anything creative, right?  I know there are exceptions, as I did buy one deal subject to from a licensed agent.....but it was his own property, and not a customer he was representing.

This is an opportunity for someone to buy a parcel in Bellmont/Jackson Heights area, on the fringe off Southeast Seminole Heights. There is a small older block home on the parcel, but you could knock that down and build three new homes. In addition to the main parcel, there is an adjacent parcel being included to make things easier for you to develop the property and have more land included. Let me know if you want more details, and we can figure out how to make this work for you or your investors.

1)  Get the contract first.  Then reach out to investors.   Lock the seller up ASAP, don't hesitate if you can help it.

2)  Include your assignment fee within the price you give the end buyer.  You may want to start at a higher asking price than you are willing to accept.

3)  As was mentioned, there are a lot of places to get contracts.  

4)  A title company is fine in Florida.

5)  The inspection contingency is also the "right to cancel" in our state approved contracts.  This means that you can cancel within that period and still be entitled to a refund of your deposit.

6)  When a wholesaler reaches out to me without a contract, I tell them to go and get the deal under contract and then call me back.   Until they have the contract signed, they dont have anything for sale.   

As a wholesaler, typically you will write your offers to the seller with an inspection contingency.  You could also use a finance contingency if you like, but then you probably would not market yourself as a cash buyer.

Hope this helps..Also we are able to buy CASH in the Orlando market, if that is where your deal is located.  Happy Hunting out there !

Quote from @Felix Baigel:

Hey everyone, new to this business (wholesaling) and to San Diego, I would love to get some recommendation about the business + do some JV with some of you, I have an experience with telemarketing and I bought some properties across the US and looking to be full time wholesaling

 Did you start making offers out there yet?   With a telemarketing background, you will definitely have the reslience that you need to talk with a lot of sellers.

One of my private lenders just mentioned having a couple defaults lately.   It's likely that the new insurance numbers and higher interest rates will hurt anyone that NEEDS a refinance....

Hey Rob, I'm a fellow investor in the area.

Also Jorge is a great contact, and I would encourage you to get to know him

Most of the opportunities that I see are POHs, and theres a strategy I have heard about to convert those to TOHs.  

We are considering buying a mobile home park with short term private money.  But I am not sure if banks are willing to lend to me on this type of asset.  Do you guys typically structure your deals with seller financing instead?   What is the best structure you have set up to leverage a mobile home park?