Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jimmy C.

Jimmy C. has started 27 posts and replied 711 times.

Post: assignment fee question

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

The highest I have ever negotiated was $25k back in 2007. The craziest part about that was there was a guy wholesaling it to us for $15k.

The end buyer made the most though in the end. Which is why she didnt care when she saw both assignment fees. She still got a smokin deal and made plenty on the rehab and resale.

But I guess average assignment fees for us are $2k-$5k.

People will try and negotiate your assignment fees down when they see them and the original contract. Be prepared and patient if you need to be. Good luck!

Post: Assigning REOs

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

You will need to have two closings. You will need enough money to put in escrow, and proof of funds to show enough to close.

You may have to use transactional funding to facilitate the a to b transaction. That dependant in the title co or attorney you are using.

Post: TX DEALS - Plz Respond Only IF You Know You Have Wholesaled In Texas

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

Edward puckett is down there and he's very helpful and nice. Haven't seen him in here in a week or so.

im in Florida where wholesaling was practically.invented

Post: Quiet Title Action

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

I actually want to learn about this as well. Are there any experts or investors who have encountered this? Perhaps when purchasing a tax deed property?

Steve babiak has this been covered in depth here already?

Post: FL FARBAR??? new contract

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

No prob. Dont be scurd tho. U got this

And Keep us in mind when you need a buyer or let me know if you have some buyers for our stuff. Good luck!

Post: What do you drive?

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

I drive a 1993 Oldsmobile royale with 98k miles that i got from an old lady for cash.

and im currently Looking for the same situation but with a 4 cylinder foreign car.

My dream car is a lambo but it will be twenty years before that makes any sense to buy. Gotta get both boys in college first.

Post: FL FARBAR??? new contract

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

You can pay for the workshop if you want.

I am using a 10 page AS-IS that was Revised 06/10 according to the bottom of the thing.

You can always just ask your title agent or attorney for a blank one. They will probably even tell you what changed for free.

Post: Short Sale Investing in States with Anti-Short Sale Laws

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

Hey Yvette. BP = Bigger Pockets

And I just Googled: Oregon REIA

That brought up 2 in Portland on the top link, but Im sure there are others.

There is one dude that posts here from OR, and I think he has something about a REIA in his sig. I cant remember his name at this time though.

Post: Still Waiting On Hyperinflation...

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

You know I was thinking that its too late to mess with gold. Since now I see the gold buyers on every street corner where I live.

But silver? Everyone is starting to talk about silver now. I remember that the Chinese were encouraging their citizens to buy silver about 6 months ago. I guess it would have been a smart idea then. Perhaps its too late now?

As you can tell, I only know how to flip houses. And I get my news from occassionally walking by a tv that was left on.

Post: Wholesaling Direct mail approach

Jimmy C.
Posted
  • Flipper/Rehabber
  • Seminole, FL
  • Posts 859
  • Votes 316

Definitely handwrite the envelopes. Think about what you would open first.

I have never marketed to absentee owners, except for the eviction list. I did have some success with out of state landlords that surfaced on the eviction list. The courthouse here sells the list once a month for under ten bucks.

And dont try and act like you want to live there. Even if that landed you a deal, wouldnt you feel like a prick when it closed to your end buyer?

On the flip side of that, I dont tell the seller everything either. There are some people that actually tell the sellers they are going to market for an end buyer!

I just say I am interested in buying your house. I can make a cash offer and close in X amount of time, given we have a clear title. If they want to know more about me, Im an investor. This is my job, its what I do etc....