All Forum Posts by: Curtis Daniels

I want to know how much they're behind and who has had their house loans in force for over 15 years. I guess I'll look at the total (totdue) to tell how much they're due. Some of the number look ridiculous but I guess $40,000 total in taxes do is not that unrealistic.

Yeah i put that together, and obviously the last one means total, but there are about a hundred other ones in that excel spread sheet.

I went to the assessors office for st. louis county and they had it available. I think my RE coach brought it up. Also there's a vast amount of info online that I think would encourage to do the same.

I just got a copy of tax delinquents on CD-ROM for the Assessors office in St. Louis County Missouri so that I can send out those who are behind on their taxes. The bad part is, I cant seem to interpret some of the data in the upper cells title for the data below for instance: currtax / delqdue/ Currdue / Totdue.

I'm not sure what you mean by preliminary contract. If I used 2 contracts why wouldn't both of those be preliminary contracts? Everything is preliminary before assignment and everyone gets their check at closing.

The document to the seller would be selling their house to me. I use the same contract for the buyer but that contract would say that I'm selling the house to the buyer. When I'm saying monetary difference, I'm saying, I'm using 2 contracts that have the same criteria.

What I mean is pretty simple. I'll use one example of a deal. I found a buyer selling a house in Jennings MO for $9,000. My contract for the seller will say, "Sum due after closing of this contract: $9,000."

For my buyer, I'll use the same contract and will say the same thing except the price he's purchasing at - "Sum due after closing of this contract: $15,000"

Same contract with the same details. The difference is $6,000.

I use 2 contracts and the monetary difference between the 2 is my check at closing. I asked my coach the same thing when I started out. At this point, I'm not even sure I've seen a contract that was big enough for the both of them (seller and buyer).

What you could easily do to get most of your core questions answers is buy a wholesaling course with lessons. Typically these wont cost much more than $30 - $100. These are typically people out in the trenches who know what they're talking about and I know it because when you do what they say, you get some similar experiences.

After you know the basics, you can either go out and start marketing and building your buyers list, or you can do option 2. Option 2 is going around town and making a list of all the "I buy houses," bandit signs and calling them. Most of these people are wholesalers. When you call them and actually speak to them, ask them if they are interested in you marketing their properties for them so you can put people on your buyers list. Or even better, see if they do a mentorship for a nominal fee of a few hundred to a thousand dollars plus split half on the first 2 houses you wholesale.

This may all sound a bit tough, but you could get a lot of experience from other wholesalers in your area. I did exactly that so I had a guy guiding me through the wholesaling process. It's great.

Sounds good. Thanks guys.

@Matt Devincenzo- Yeah I guess a separate letter would be an amendment, but the text in which the title company wrote makes it seem different than an amendment.

Thanks.

I have a place for SPECIAL AGREEMENTS. I suppose I'll write the amendment there and have us initial along with the date. I highly doubt anything would have to be notarized.

"Assuming the price is stated in the contract, which it should be, then you have no alternative but to amend the contract."

Obviously not because the title company explicitly told me that a letter of agreement would be another option.

I found a seller and a buyer. I've had a binding contract with the seller for about a month now, but the seller and I both came to an agreement to go down a few thousand on the house in order for us to sell it to my end buyer.

The title company already has the contract and told me,

" We will need either an amendment to the contract or a letter signed by all parties agreeing to the price reduction."

I don't want to amend the contract.

What kind of letter do I come up with? Some kind of letter in my own words?