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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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9 December 2024 | 9 replies
Quote from @Devin James: Quote from @Justin Stamper: land entitlement is a great move in florida. just gotta have deep pockets to play!
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12 December 2024 | 6 replies
Market conditions also play a role, including the availability of contractors, appraisers, and lenders.
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8 December 2024 | 1 reply
Let's say you are a brand new investor.
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7 December 2024 | 9 replies
I would personally rather be the guy with the lower purchase price and higher rate, but it doesn't help a brand new househacker in the short term.
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11 December 2024 | 8 replies
I'm originally from BR and still invest heavily and lend there.
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16 December 2024 | 8 replies
I've been playing with amortization calculators and have seen you can pay off 1/3 of the mortgage and reduce 2/3 of the duration.
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17 December 2024 | 17 replies
I think there's a fair amount of play in the budget for what needs to be done.
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5 December 2024 | 14 replies
That continuous flow of new nice properties wouldn't hurt your valuation, since they can go into something brand new instead of something that is 3 years old?
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9 December 2024 | 3 replies
I tend to find my own properties and deal with the realtors directly but having a realtor if you are brand new to the area, is helpful.