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3 January 2019 | 6 replies
Is the transaction once removed, meaning I personally want to buy the house (I'm not making money off of the purchase of the house, but the remodeling done).
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16 January 2019 | 19 replies
The transactions should be:Investor -> Wholesaler -> SellerBut my contract I had wasInvestor -> Seller To try and compensate he then sent me a copy of an assignment which I refuse to sign since he needs it signed by the seller.
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4 January 2019 | 4 replies
You need both for wholesale transactions unless you are doing a double close.
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4 January 2019 | 5 replies
Even though you try to spell out responsibilities you will experience some cross over in responsibilities.
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4 January 2019 | 1 reply
Initially I thought about getting a hard money loan and doing a traditional transaction so that my in laws can get their money right away, however time is not of the essence Someone also told that me to save money (avoId poInts/fees/Interest) and just “partner up” with my InLaws and write a contract stating that upon the sale of their house, they’ll get their 400K and I’ll get the rest, have them give me a quitclaim deed to the property and i’ll pay their mortgage and expenses during the rehab months.
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4 January 2019 | 1 reply
If you have partnered with your Ira & lend $$ from your IRA in the scenario described it will be a “prohibited transaction” and blow up your Ira. see if you can get a non recourse loan from an allowed person, Ira, or company.
4 January 2019 | 5 replies
As a condo owner it made prices stagnate as this limits the buyer pool to conventional and cash transactions.
4 January 2019 | 5 replies
As private lenders, we prefer this as it gives us more comfort that the purpose of the transaction is business purpose and we are not providing a loan for an individual's primary residence.
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7 January 2019 | 25 replies
With so many parties involved in a real estate transaction, the waiting is the hardest part.
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14 January 2019 | 4 replies
Be very careful with “wholesalers” in South Florida majority of them send out daisy chain properties they don’t have under contract and just mark up other people’s deals.