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15 December 2024 | 7 replies
In either case, the wholesaler usually doesn't need to provide their own funds to complete the deal unless they are doing a double closing and need private financing for that purpose.The title company plays a key role in ensuring that the funds are processed correctly and that the transaction is legally and financially finalized, including disbursing funds to the seller and paying any fees owed to the wholesaler, private lender, or other parties involved.Contract with Seller: The wholesaler secures a property under contract, usually with a small earnest money deposit.Find Buyer: The wholesaler finds a buyer (investor) and assigns the contract, earning an assignment fee (difference in price).Closing: The buyer wires funds, the wholesaler receives the assignment fee, and the title company handles the transaction.Costs:Earnest Money: Small deposit.Marketing: Costs to find deals.Funding (if needed): For double closings.Profit: The wholesaler earns the assignment fee.prioritize transparency and value.
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18 December 2024 | 25 replies
Usually when you buy a property you either decide 1. flip it as soon as possible or 2. hold for a rental long term.
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13 December 2024 | 7 replies
This is public info and usually it will change based on seller being there a long time or something like an elderly tax rate.What are insurance costs like (we've got a lot of local variability around fire insurance for ex.)?
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14 December 2024 | 4 replies
I usually work with my local credit union where I have developed a relationship over the years.
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16 December 2024 | 8 replies
However, in Columbus, you might find duplexes in decent shape for around $200k to $250k, usually located in C-class neighborhoods.
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19 December 2024 | 13 replies
Keep in mind that legitimate players here will usually finance you out of the deal as soon as they are able unless your terms are better than what they can get from trad financing.
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13 December 2024 | 9 replies
A turnkey provider usually buys the property, renovates it, sells it to you, and then manages it for you.
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7 December 2024 | 2 replies
These sellers can be more critical of everything you do i.e. the property description posted, choice of images to upload, frequency and time of open houses, negotiations etc. 2.
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17 December 2024 | 22 replies
When I sent the Home Inspection report to ABC Baltimore, it was the usual, “We will work on the items, we are very close, etc.”.
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13 December 2024 | 4 replies
Over my time (over 30 years), if your lender will make a call to the seller/seller's rep to explain the level of due diligence we've done on the buyer usually goes a long way.