@ChateauSiran1986 ... By: founditontheweb. on 01 Aug 11, 18:33:45 @ChateauSiran1986 so could I.? Your question sounds like you would be a good Hard money lender... D.W. Van Hook
see michaeljake d o ... By: localmentor. on 25 Jun 11, 20:13:08 see michaeljake d o t c o m for a video on how to build a buyers list, but any contingency in your contract will allow you out of the deal - like "inspection" or "subject to partner approval" if for some reason you can't find a buyer, you notify? the seller that you are not going to close do to that contingency....or any buyers that you did have look at the deal and didn't take it - ask them what they would take it for and go back and renegotiate with the seller.
great vid. me being ... By: Ednyce81. on 24 Jun 11, 21:44:06 great vid. me being new to real estate and wholesaling for some reason was nervous/scared about closings and paperwork but watching this vid. it seems like theres nothing to? worry about. the only question i have is that what if you cant find a buyer ? what happens then ?
@ChateauSiran1986 ... By: localmentor. on 23 Jun 11, 20:19:09 @ChateauSiran1986 - no idea what your skill? level is. Could I? Yes
Ask a Attorney to ... By: b29349. on 16 Nov 10, 10:57:41 Ask a Attorney to allow you to sit in on a closing. Each party gets a copy and copies have to be filed. There alot of them - to many? to list. My last closing there were 14 sets of them.
-? I believe this ... By: localmentor. on 19 Sep 10, 22:52:32 -? I believe this was a double close, so yes there were some closing costs
- this was a double ... By: localmentor. on 19 Sep 10, 22:51:39 - this was a double closing? if I recall
- yes and no,? not ... By: localmentor. on 19 Sep 10, 22:51:05 - yes and no,? not yet.
i have a question, ... By: raulchacon123. on 15 Sep 10, 16:39:14 i have a question, as a wholesaler why did you need? to sign so many documents at closing?? what where the documents??
Do you ever make ... By: TheMotifES8. on 13 Sep 10, 18:45:12 Do you ever make offer to homeowners who have defaulted on their mortgage loan?
Do you have a video? post showing the bank & seller negotiating stages?
I noticed your ... By: TheMotifES8. on 13 Sep 10, 18:33:50 I noticed your check was an odd number. Was that your assigning fee? Where there any title/tax fees deducted from your gross check? amount? Thank you
- on? this deal the ... By: localmentor. on 19 Jul 10, 22:58:32 - on? this deal the seller's agent/attorney had everything signed in advance. Usually there is someone there.
I thought in a ... By: you1w. on 19 Jul 10, 18:25:43 I thought in a closing the seller, the buyer, and you are all present at closing. In this closing only you and the buyer are present. I don't understand how did that, How did you make that work? Is there a way for? you not to even come to closing at all?
- my buyer brings ... By: localmentor. on 15 Jul 10, 02:23:54 - my buyer brings in money to buy from me plus my assignment fee, or in the case of a double (simultaneous) closing, funds to close? on the purchase and those funds are used to fund my purchase from the seller. Either way, no money of mine out of pocket. and a fee or profit from the spread in prices.
What I don't ... By: KiwiTwist03. on 11 Jul 10, 20:44:03 What I don't understand is where you got the $50,000 cash on hand. I have been trying to get into this,? but I don't know how to fund it.
I? like this video By: RLJ93727. on 07 Jun 10, 18:25:54 I? like this video
Thanks for posting ... By: ethanjarrell. on 18 May 10, 13:54:41 Thanks for posting this video. Very helpful information! We are currently trying to implement? some of these ideas into our business plan.
BIRDDOG ALERT: I'm? ... By: jt193024904. on 13 Feb 10, 03:54:44 BIRDDOG ALERT: I'm? offering 1% finders fee on my 63 unit apartment for sale in Thunderbay Ontario. That's $22,500.00 in your pocket if you bring the buyer to the table. This is no joke. It will be a win win situation? if I can sell my building so please try and find me a buyer and I'll gladly pay you 1% of the purchase price which amounts to 22.5k. Please email this to all your friends who might need money. Details at:? mshinvestments(.)com
you can go directly ... By: localmentor. on 19 Jan 10, 02:56:31 you can go directly to realquest or sitexdata and then you can? pay for what the title company will give you for free.
yes? and you should ... By: localmentor. on 15 Jan 10, 13:12:00 yes? and you should be able to buy a data CD from them. It's easier for me to get that info from my title company - it's formatted and easier to use.
So he got paid the ... By: 90260. on 29 Dec 09, 10:30:56 So he got paid the profits only ? knowing that the Title company has the full amount? and the other guy is only obligated to pay the buyer $8000 somthing? i don't know if i got this right
Double closing: I ... By: aftereight01. on 30 Aug 09, 17:07:58 Double closing: I find a motivated buyer a house that matches their investment criteria. The buyer, myself and the seller go to the title company together to close. I close my assignment contract with the investor and collect my assignment fee (i close). Then the Actual buyer closes with the seller (2nd? close). Not necessary. Once buyer signs assignment with you they can pay you right then and take the deal from there. Its up to the 2 of you how you want to close.
If? this was a ... By: Pyromaniac21. on 25 May 09, 22:05:17 If? this was a simultaneous closing didn't YOU have to pay some closing costs?
Explain to me what ... By: Pyromaniac21. on 25 May 09, 21:33:12 Explain to me what a double? close is and what a simultaneous close is. The REI books I've read on wholesaling/contract assigning leave these terms out and also completely leave out what to do when seller has an RE broker/agent.
http://www.localment or.com How To Fix And Flip Ugly House Tour Video. Walking through an REO determine what to fix, how to fix it and what to budget for. http://www.localment or.com
http://www.localment or.com How To Fix And Flip Ugly House Tour Video. Walking through an REO determine what to fix, how to fix it and what to budget for. http://www.localment or.com
http://www.localment or.com real estate investing training video on what not to do on a fix and flip. Sometime saving money and cutting corners don't actually save you money. I often say, the cheapest "contractor" (fill in the blank with anything there) is NEVER the cheapest contractor. For more great money making real estate investing training check out http://localmentor.c om
The *wow* factor is ... By: UltimateBargains. on 21 Dec 11, 16:21:23 The *wow* factor is very important, and it doesn't need to be expensive, but certainly cannot be achieved by being cheap. The problems shown in the video are quite common with amateur and novice fix-and-sell projects. They bid up prices, removing profitable properties from the market, then they must perform very cheap rehab to stay under the retail ARV in the hope of making a profit. In the end, they must sell at a loss and everyone loses, including? the professional rehabbers. Subcribe to me.
http://www.localment or.com real estate investing training video on what not to do on a fix and flip. Sometime saving money and cutting corners don't actually save you money. I often say, the cheapest "contractor" (fill in the blank with anything there) is NEVER the cheapest contractor. For more great money making real estate investing training check out http://localmentor.c om
I wouldn't live ... By: im1greatman. on 03 Apr 12, 03:34:09 I wouldn't live there if it was? free.
If you do? the job ... By: mail22. on 23 Dec 11, 18:46:31 If you do? the job right, you should get FMV. If you don't, the flipper who will buy your property will buy it at any condition (given the right price), fix the mistakes, and re-sell it. I do agree that cutting corners cost you more than the cost of actual repairs.
-...and if you do ... By: localmentor. on 21 Dec 11, 17:37:43 -...and if you do the job right you should get the price anticipated? when you analyzed the property to purchase it in the first place.
- if you mean ... By: localmentor. on 21 Dec 11, 17:37:03 - if you mean adjusting the price will always get the house sold, you are in 99.9% of time correct. As a fix? and flipper though, the goal is to make a profit. Lowing the price can nearly always get it sold, but the GOAL is to make a profit. The point of the video is that sometimes cutting corners and not fixing the house to meet or exceed the expectations of the market can and often does COST MORE than the savings of cutting those costs.
There's? only 1 ... By: mail22. on 18 Dec 11, 09:54:03 There's? only 1 reason something doesn't sell. PRICE.
Thanks for sharing ... By: BuySellRentInvest. on 17 Dec 11, 15:05:55 Thanks for sharing that with me. I've done before and after videos that people like, but I really like yours going into the details deeper. The best to you and? your business.
- No, someone I ... By: localmentor. on 16 Dec 11, 22:01:03 - No, someone I know did the rehab and wanted some advice on? why it wasn't selling.
Really good post. ... By: BuySellRentInvest. on 16 Dec 11, 21:58:24 Really good post. Was this a house you were? looking at to maybe buy? Just wondering.
nice video!! 100% ... By: BrutusEmpire. on 16 Dec 11, 18:34:03 nice video!! 100% correct!!!?
http://www.michaelja ke.com http://www.localment or.com Colorado Real Estate Investing Mentor and Coach Michael Jake discusses a creative real estate owner financing deal he did this week. http://www.michaelja ke.com http://www.localment or.com
- the example I ... By: localmentor. on 25 Oct 10, 15:59:59 - the example I used a 2 year lease purchase 600 per month pay down * 24 months=14.400
Selling Price (if stays the same) 105,000 - 65,000 purchase Price - rehab 6k =? 34,000+14,400 ammortization=48,400 total profit. If it takes longer to sell on lease purchase - it pays down more.
so, wait...
how ... By: IndyInegrityHB. on 25 Oct 10, 15:53:36 so, wait...
how did you get those 14400 of amortization??
http://www.localment or.com How to determine value can be confusing. In this video Michael Jake walks through a mistake in value and how little things can sometimes have big impacts on the retail value. for more free real estate investing training information visit http://www.localment or.com
same? here By: HarleyStcool. on 06 Oct 10, 03:49:28 same? here
This is very? ... By: markbradleyvideos. on 08 Apr 10, 07:19:51 This is very? interesting. Thanks for your help. I will be checking some of your videos. I believe I can have more good videos from you.
http://www.localment or.com creative real estate investing in action. Post your example deal numbers in the comment section of this video and I will respond with 1 or more interesting ways to put a deal together from it. for more creative real estate investing info http://www.localment or.com
...an investor ... By: localmentor. on 01 Feb 12, 16:46:34 ...an investor who'd consider such a deal. Sell the Dream, Sell the Vision of what it could be with HARD data to back it up....or do the deal yourself and go through the process of doing that and raise capital via construction financing or private financing - if you go private - figure a high rate of return for an investor who'd put in the cash and keep the rest as your slice of the pie. You'll? learn a lot going through the process. Let me know how it turns out!
- great question... ... By: localmentor. on 01 Feb 12, 16:44:07 - great question...issue is would someone want to build a NEW multi-unit in a 20+ year old C area? In my locale, probably not. A friend of mine lives in Pennsylvania and it's common to put modular 4-plexes (possibly an 8? plex if they make such a thing) on lots like that. I doubt it's going to be as easy as just getting a contract and assigning it, you need to research the viability of doing something like that, what the costs are, and project a return for ...
There are two plots ... By: Robtheprince. on 31 Jan 12, 16:58:02 There are two plots of land adjacent to a each other that haven't been developed in over 20 years. There are class C houses on either side of them with the owner occupying one of those houses. After checking zoning, it is zoned for 7-8 unit apt. The property appraisers site values each plot at 19K. I want to? hopefully acquire each plot at 10K maximum and wholesale at 25K or 30K for a 5K-10K profit. With the zoning I think it would be a steal for a potential investor. What do you think?
- I'd? refi your ... By: localmentor. on 06 Dec 10, 19:01:40 - I'd? refi your rehab money and purchase price out, but I would NOT refi equity out.
Congrats on your first deal!
Hey michael. I have ... By: blube444. on 06 Dec 10, 10:50:06 Hey michael. I have recently purchaced my first investment property through a tax deed? sale. It's in the city of Saint Louis. I paid $5k for it. It needs a total rehab. 954 sq ft.
One thing I really like about this area is that there are tons of workers who are laid off and looking for any work.
I would like to rehab the property, rent it out, and then refinance and pull out the equity. How does that sound?
if, for example the ... By: localmentor. on 28 Dec 09, 16:36:09 if, for example the house would rent for 1500, then you have 1500 - less min. acceptable cash flow to support debt/taxes/insurance. If you borrow 1st position money to give the seller, you? have to calculate that payment into what's left over you can pay the seller on the carry back.
Get some accurate comps, though!
Seller WANTS 100k, ... By: localmentor. on 28 Dec 09, 16:33:41 Seller WANTS 100k, what does he need?
Comps of 190k to 400k are NOT Comps. You absolutely NEED to? have a system of getting accurate comps - to get within 5-10k of value in that pricepoint to understand how to put the deal together.
Only way to get a big chunk of cash to the seller up front without it coming from YOU is using subordination - get the seller to subordinate behind a new first (Hard Money or Private Money) - BUT you have to determine what the House will afford for a payment (ie.rent
on likely size of ... By: localmentor. on 23 Dec 09, 17:23:40 on likely size of it, your probably talking more like 2k-2.5k and then you might be able to raise that as an option consideration payment for RTO? or possibly more if you wrap or carry on installment sale. Right now you have till June-ish to have a buyer collect an 8k tax refund for buying - and Installment sales qualify, so you could pitch it that way - you paint and carpet it and get 8k back.
In my market, I run ... By: localmentor. on 23 Dec 09, 17:21:23 In my market, I run from modulars. They depreciate and the days on market are insanely LONG. Takes time to move even on terms, so I'd PASS.
In some markets, modular's are "normal" and even thought of as a better built? home - you'd better know which you are in. If this is the case, I'd go for taking over the payments and lease it out as a "sweat equity" rent to own. doubt you'd get 5k down to recoup a 5k investment of paint and carpet, but if you really only need paint and carpet based ....
it'd squeak by as ... By: localmentor. on 23 Dec 09, 17:18:06 it'd squeak by as an all cash deal at 75%-repairs, so you can likely fund 100% with hard money or a private lender - funding rehab as well.
another option is get the? seller to take a single pay balloon note due on resale. If houses sell for that amount in the area, I wouldn't want 15k stuck in the deal long term., so I'd still want to fix and flip this, not keep long term.
3rd option for a keeper would be raise the rehab by borrowing 20k in 1st and have seller subordinate with owner carry.
Hi, Michael,
3 BR,? ... By: rhagel1. on 23 Dec 09, 06:35:37 Hi, Michael,
3 BR,? 2 Ba, Modular
72K owed, Value 105-120K ARV
5K Repairs incl paint, some carpet.
What would you suggest??
2 bed 1 bath 850+ ... By: scubudoo. on 14 Dec 09, 23:40:36 2 bed 1 bath 850+ sqft
Price- $30,000
Repairs-fullrehab about 10-15k
ARV-$ 65-85k ish?
If it quacks like a ... By: localmentor. on 07 Nov 09, 18:52:39 If it quacks like a duck, it's probably a duck. Short sale is the only option that would make sense. If it would only sell for 48-54k in good condition and needs 10-20k then 40k is no option. You'd have to short this to around 17k to make this make sense as a retail deal, and as a wholesale deal, you need to get it less than 17k so? you make a profit. If the owner won't agree to you shorting it less than 40k, walk. Plenty of fish in the sea.
3 bed, 2 bath 1100+ ... By: richboywayne. on 07 Nov 09, 08:01:52 3 bed, 2 bath 1100+ sqft
Market value: $62k
Price- $42,000
Repairs-fullrehab about 10k to 20k
ARV-$82k
This is a funny townhouse deal I'm stumped on. It's a short sale (which I've never done before) where the owner doesn't want to go below $40k. The market wont support a house at 82k in that area (most sale for about $48k-$54k). And the house? is in need of some major repair work.
This may sound dumb ... By: richboywayne. on 07 Nov 09, 07:52:26 This may sound dumb but how can you have a 5br - 1bth house? It should at least be a 5-2 because no one will want to buy a 5 bedroom house with only 1 bathroom. Can you imagine having 5 people going to the bathroom at once? Id hate to say it but this sounds like an ugly deal and Ive had many of deals like this. What I would do is add another bathroom, lol or do a lease option. Really there's so much equity that you can just assign it, but you're just giving away? money in my opinion.
5 bed, 1 bath 3000+ ... By: dgbuyshouses. on 15 Oct 09, 21:54:36 5 bed, 1 bath 3000+ sqft
Price- $67,000
Repairs-full rehab about 35,000
ARV-$160,000-$200,000
dont have the resources to do it myself, just going to wholesale it if I can find? a buyer... any WNY investors in here lol
This just doesn't ... By: localmentor. on 28 Sep 09, 15:38:49 This just doesn't make sense to me. Get a license and play realtor if you want to play tour guide - and you can do it without risk. If you want to play the lease option game create real paychecks, up? front, monthly passive income and a back end payday that's huge. No one wants to learn how to deal with tenants, but tenants will make you wealthy. Flipping makes money, but holding property pays you the rest of your life. couple L/O with Owner Finance and 1031 and you can retire in 10 years.
How quick you need ... By: localmentor. on 28 Sep 09, 15:24:14 How quick you need to close depends on your buyers. If you have cash buyers, 10 days is plenty. Lower the price, the more cash buyers will be attracted and the quicker you can close, the more marginal the spread, the less cash buyers you'll? have interested, but you will get those who can get a mortgage or hard money lender involved, but you'll need more time. Less sophisticated buyers need some hand holding and TIME to make a decision. Give 30 days and a longer inspection period.
lease options ... By: 530HELP. on 13 Sep 09, 22:49:52 lease options strategy. Charge the home owner and tenant buyer 2k. show seller of property rent to own candidates and let them pick show them there credit and structure the deal for them you charge tenant 2k for finding them a home with owner finance and never have to play landlord?
Hi Michael,
I ... By: mstrmd1. on 11 Sep 09, 13:44:58 Hi Michael,
I have a couple of properties I want? to make an offer on to wholesale. Can't seem to just do it! 1. really distressed, listed as estate sale for $110K. Can I put my name with &/or assigns, since its a regular owner selling? 2. Bank owned
I know you said to open an LLC. my question is what do I use for an exit stratgegy on both of these?
I guess thats my biggest concern. How long should I take to close when the contract is written up?
70-76 seems ... By: localmentor. on 10 Sep 09, 16:19:14 70-76 seems reasonable, but check comps in the area for what other investors are paying for similar houses (REO and Foreclosure comps, not retail comps). Right now in my area, i just wholesaled one at 80%-repairs, which is where quite a bit of MLS REO's are selling at.
Nice Job! ? rinse and repeat! ;)
I have house that I ... By: Lbg801. on 06 Sep 09, 05:13:15 I have house that I picked up from the bank for 52k the bank listed it at 100kgot them down to 52 in 5wks I offered cash for the deal comps in that area from the last 6months came in at 120-130k needs about 10-15k put in I was going to fixs it up my self but I dont want to go through the hasle dealing with? contract and building codes so I'm going to wholesale it for 70k is that to much to ask for.
build your own ... By: localmentor. on 04 Sep 09, 23:35:58 build your own buyer's list or partner with wholesalers that already have a buyers list and cut them into a piece of the deal for putting it to their list. You'll build your list out of other? wholesalers lists.
craigslist is an amazing tool to build a buyers list quickly and easily. Twitter as well, but use those tools to generate a lead and then start a RELATIONSHIP with your buyers before you offer a deal.
I tried to sell an ... By: 220lucci. on 04 Sep 09, 01:36:27 I tried to sell an reo to an investor but the investor working with an investor out of country who buys the property and my in vestor tring to make something off the deal also...my broker said that the property has to be bought from? the bank first to sell for my amount so my investor back off...the property was listed at $8,900 i was marketing it for 12k and she wanted 2k off the deal which is 14k...which made if a lil difficult to do ...what advice can you give me from this???
http://www.localment or.com Wholesaling Houses Training Seminar (preview) by Michael Jake, Colorado's Real Estate Investing Mentor. For more real estate investing training visit http://www.localment or.com
- I usually sell at ... By: localmentor. on 27 Oct 10, 18:40:01 - I usually sell at 75% LESS rehab in my market. We're no where near as soft as some markets so keep that in mind. But as an example, $100,000 after repaired value*75% - 20,000 rehab = 55,000 price to my buyer, so? I have to buy it more like 50% of ARV.
Every market is different, look at the distressed comps by size range in a target area and you'll see roughly what investors are regularly buying at. That will help you get an idea.
@localmentor @ ... By: missrosetejano. on 27 Oct 10, 05:58:11 @localmentor @localmentor how much of the asking price is considered? to be significantly below market value? 30 to 40 per cent below market value
Buyer's List FIRST. ... By: localmentor. on 17 Jul 09, 17:02:32 Buyer's List FIRST. Build relationships with your buyers and let them guide you to what THEY want and what they are willing to pay for it - then when you make offers on properties, you KNOW what your buyers will? pay so you can structure a deal that you can sell to them.
Go to some Columbus REI meetings. Dave & Steve Zehala know their craft and can give you some guidance to the local area.
I purchased steve ... By: 6145304357. on 17 Jul 09, 04:37:35 I purchased steve cooks course and a well known wholesaler in my area of ohio found me threw my signs I put 8 houses under contract in a month and my mentor didnt find one buyer i eventually did? a lease option on my own and put 230 bucks in my poket an recieved a 2,000 check up front I really would like to wholesale but cant find buyers even after i get the houses under contract at crazy low prices i mean 2,000 4,000 6,000 houses what can i do
http://www.localment or.com Wholesaling Houses Training Seminar (preview) by Michael Jake, Colorado's Real Estate Investing Mentor. For more real estate investing training visit http://www.localment or.com
http://www.localment or.com http://www.michaelja ke.com Wholesaling Houses Training Seminar (preview) by Michael Jake, Colorado's Real Estate Investing Mentor. For more real estate investing training visit http://www.localment or.com http://www.michaelja ke.com
Invest in houses ... By: venangocountynow. on 08 Jul 11, 20:02:27 Invest in houses during the gas industry boom in Venango County PA! Houses are inexpensive at the moment, but as? business rush here to take advantage of the gas boom, this won't last. So check out Oil City PA now and invest in this upcoming market.
good question. It' ... By: missrosetejano. on 27 Oct 10, 03:23:05 good question. It' all about networking. If u know one person in real estate, just ask him/her if they know 3 other people that rehab. then ask those 3 people if? they know anyone else.
how do I build? a ... By: Lbg801. on 06 Jul 09, 08:57:14 how do I build? a buyerss list?
http://www.localment or.com Michael Jake's mentoring program shows new investors how to fix and flip houses making more than corporate American and working Less. For more Colorado Real Estatate Investing Training http://www.localment or.com
http://www.localment or.com Colorado Real estate investment expert, Michael Jake, teaches zero down investing techniques. Learn Wholesaling houses, wholesaling REO's, foreclosures, short sales, subject to, land contracts, owner financing and other creative real estate financing structures. Free Colorado Real Estate Investing Course teaches you how: http://www.localment or.com
Superb? stuff. So ... By: JaxInvest. on 10 Jan 12, 06:43:32 Superb? stuff. So glad I found your channel :)?
Hey everyone I want ... By: Lounsbury6257. on 30 Dec 11, 15:21:31 Hey everyone I want to share a book that just came out about REO's is? "REO BOOM" this book has over 400 pages on the entire REO process. Check it out and I hope you find it helpful like I did.
Fantastic stuff. ... By: JaxInvest. on 21 Nov 11, 05:40:58 Fantastic stuff. I've enjoyed your videos and can't wait for more :)?
when selling a llc ... By: focus1880. on 13 Oct 11, 15:37:34 when selling a llc to an end buyer and the deposit money is in place if the end buyer does not want to pay full assingment fee until closing but does agree to double the deposit money does this have to be indicated in? the contract and is this non-refuundable also the end buyer is totally responsable for all closing coast unless he/she can work something out with the bank or me thank-u-
yes, I only use for ... By: localmentor. on 27 Jun 11, 22:37:10 yes, I only use for REO's (I think some people are using this for short sales too) because often the lender addendum states one must have guaranteed funds to close the deal - meaning you can't use funds from a double close. ? That leaves you using transactional funding (1-2% of the price) or using this technique to avoid having to pay for the cost of transactional funding. You can also use a trust and sell the beneficial interest but trusts can be a red flag to lenders.
is? this only ... By: Ednyce81. on 25 Jun 11, 23:12:07 is? this only necessary for reo's, and why ?
is this only ... By: Ednyce81. on 25 Jun 11, 23:11:37 is this only necessary for? reo's ?
do u know any good ... By: gnice25able. on 09 May 11, 16:04:45 do u know any good title compnies and attornies that works with real estate? investors who wholesale propeties
Yes, I have a MD ... By: wilber638. on 06 Apr 11, 20:57:24 Yes, I have a MD LLC , so can my MD LLC buy a Colorado LLC to sell the property and make a profit????? Thanks
- yes, but you ... By: localmentor. on 06 Apr 11, 19:17:00 - yes, but you might want to? create a MD LLC
Does this only work ... By: wilber638. on 04 Apr 11, 18:55:08 Does this only work for Colorado properties....if I am in Maryland and I buy a Colorado LLC can I sale a property in MD with this? LLC
you can get it with ... By: localmentor. on 10 Mar 11, 19:42:42 you can get it with any of my courses at my? michaeljake website
Could you please ... By: TheMotifES8. on 09 Mar 11, 19:33:57 Could you please tell me how I can get a copy of your attorney drafted contract ? Thanks!?
yep, this video? is ... By: showem88. on 22 Jan 11, 13:44:01 yep, this video? is great! keep them coming!
see below:
1 - Yes ... By: localmentor. on 19 Sep 10, 22:48:34 see below:
1 - Yes
2. - What Liability? You sell them a shell LLC. Once it's sold you no longer have anything to do with it.
3. No one has ever asked but its a brand new entity and my agreement says it has no liens, judgements, etc. ? Any local court records search could verify nothing is pending
4. yes
I have a few ... By: TheMotifES8. on 13 Sep 10, 20:11:42 I have a few questions I'd like to ask you:
1. Do you form the LLC? prior to making an offer?
2. Do you have the Buyer of the LLC dissolved the entity once buyer closes escrow to avoid any potential liabilities?
3. How can you prove to the Buyer that there are no debts, lawsuits, liens, citations, etc.,... attached to the LLC.?
4. Do you offer your attorney drafted contract as a burn plate?
Thank you for your posts! Great stuff!!
If creating an llc ... By: reycake. on 29 Nov 09, 02:22:03 If creating an llc prevents you from using your own money that you don't have anyway, who provides the POF that the lender? will require?
how? can i get into ... By: bigray6113. on 06 Nov 09, 19:52:44 how? can i get into this business you motivate me sir
I tell them how ... By: localmentor. on 16 Oct 09, 16:04:55 I tell them how much the whole things going to cost them. If my contract price is 95k and? I'm selling my LLC for 5k, then I "offer" it to my buyers at 100k - when one says yes, then I show them they are paying 5k for the LLC and 95k for the house. The first time you do an LLC sale with a buyer takes a little more time to explain it, but after they do it once it's easy on every one thereafter.
Im kind of confused ... By: kyotic77. on 13 Oct 09, 03:37:18 Im kind of confused. do I tell my buyer that this home is $100,000 even if the home is $95,000 to get my assingment fee? or? do I tell them exactly how much my fee is before escrow?
they will? want a ... By: localmentor. on 12 Oct 09, 18:22:30 they will? want a proof of funds letter. Once you get the contract accepted they'll want a deposit and they may check the funds letter, but probably not.
does the bank? need ... By: kyotic77. on 08 Oct 09, 19:38:11 does the bank? need to see my fund seasoned and and recieve a deposit from me as a wholesaler in order for me to get the contract?
I can't give legal ... By: localmentor. on 08 Oct 09, 17:47:02 I can't give legal advice - talk to your attorney. The cheapest way to create one is likely on your secretary of state's website. I can file one on mine, online and pay $50 (Colorado) on the website.?
Can I make my own ... By: kyotic77. on 08 Oct 09, 05:54:15 Can I make my own LLC for free? if not whats the quickest way to get it??
Must have missed ... By: localmentor. on 07 Oct 09, 02:39:50 Must have missed this comment, appologies for? a SLOW response. No I don't have an attorney write up an operating agreement. just create the articles of organization on the sec. of state's website
http://www.localment or.com Colorado Real estate investment expert, Michael Jake, teaches zero down investing techniques. Learn wholesaling houses, wholesaling REO's, foreclosures, short sales, subject to, land contracts, owner financing and other creative real estate financing structures. Free Colorado Real Estate Investing Course teaches you how: http://www.localment or.com
@localmentor, As a ... By: 8beazy. on 25 May 12, 00:18:39 @localmentor, As a matter of fact one of the properties is a HUD lol. I actually sent you? an email on your website earlier in the evening.
Thanks - you only ... By: localmentor. on 24 May 12, 21:30:56 Thanks - you only need a tax id? if your contracting on a HUD, FYI.
@youmarc11, To ... By: 8beazy. on 24 May 12, 20:59:49 @youmarc11, To piggyback on what you and Michael were discussing the selling of the LLC actually protects you as you perform the transaction. I say this because even though the end result is the same you're technically not assigning the contract you're selling a company. Your buyer is buying your LLC? and? the home comes with the company. The title company will send you documents asking who will sign for the LLC at closing and you simply give them your end buyers information and your fine.
Michael, The ... By: 8beazy. on 24 May 12, 20:12:18 Michael, The selling of the LLC is genius! I've been racking my brain on how to wholesale REO's for days now and finally stumbled upon this video. Just filed for my LLC with a rush order to get that tax ID.? Great, great stuff man!!!
Thanks Micheal,
... By: youmarc11. on 22 May 12, 18:26:25 Thanks Micheal,
You? will be the first person I contact when I'm ready for a mentor.
Marc
Stuart, FL
no - because you ... By: localmentor. on 22 May 12, 18:24:39 no - because you are not changing the contract - still closing under the name of the LLC, there's just a new owner of the LLC. Bank and title co. really don't know what is going on. You tell them you will not be signing for the LLC at closing, you tell them the name of the person that WILL be? signing at closing.
But will the title ... By: youmarc11. on 22 May 12, 17:47:47 But will the title company or Bank have a problem with you selling the LLC at the closing hence giving ownership of the property to your buyer? since it's basically the same as a straight assignment of contract. the paperwork is different but the end result is? the same.
Marc
you tell the title ... By: localmentor. on 22 May 12, 17:36:54 you tell the title co. who will be signing for the LLC at closing. I always get a deposit (non refundable) from my buyer prior to closing with balance due at closing per my agreement. I've never had a buyer try to stiff me at closing on the balance, but if they did per my agreement they? don't own the LLC and it's in writing so I could show that to the closing agent and stop the transaction.
hi, how do you ... By: youmarc11. on 22 May 12, 13:31:44 hi, how do you coordinate with the lender's closing title company? if my buyer won't pay? me to buy the llc before the closing (if they would rather buy the llc from me while I simultaneously close on the property) will the title company have a problem with it or go and tell the lender what I'm doing and kill the deal?
priceless info! ... By: NetGuruINC. on 11 May 12, 22:07:31 priceless info! just solved my problem! thanks a million!?
Who would pay the ... By: MarioJPerez. on 25 Apr 12, 14:16:00 Who would pay the closing costs? on both transactions?
- one has nothing ... By: localmentor. on 23 Aug 11, 17:23:51 - one has nothing to do with the other - you use an LLC to get around assigning and/or having to use flash cash at? closing. You need proof of funds for whatever you are closing in/taking title as/flipping as - hard money lenders can get you a funding letter or just google "proof of funds letter" there's many sites that let you create your own funding letter. this is not a problem.
How does creating ... By: NajeeNIB. on 21 Aug 11, 05:07:48 How does creating an LLC, satisfy the REO's need to see proof of funds to allow them to accept the offer? Do you form an LLC with the Buyer and? show his funds? And why would a buyer do this with me. I am not sure that I understand.
the LLC writes the ... By: localmentor. on 02 May 11, 16:57:10 the LLC writes the offer to purchase the REO. Once you contract is accepted, you sell the LLC or the membership interest in the LLC. You'll need an agreement to? sell the LLC, then your buyer closes on the contract. You may have to work out the earnest money - often I put it up before I find a buyer - else If I haven't, I just have my buyer put it up. have to coordinate with the title company or closing attorney who will be signing for the LLC and Statement of Authority
the Colorado ... By: localmentor. on 02 May 11, 16:52:51 the Colorado Secretary of State's website - just google it - go to the business division then? you can search names to make sure no one else is using the name, then "file a new document" and you can select new LLC
whats the site to ... By: TANISHAADJO. on 30 Apr 11, 19:42:53 whats the site to to create? the llc in CO?
so i assign the ... By: TANISHAADJO. on 30 Apr 11, 10:18:29 so i assign the contract in my llc? i assign the rights over to my end buyer??
...and yes it ... By: localmentor. on 26 Jan 11, 04:54:19 ...and yes it addresses all those concerns for the buyer...including whether or not membership certificates have been? issued...which usually they are not.
comes with either ... By: localmentor. on 26 Jan 11, 04:53:12 comes with either the "lazy man's guide to wholesaling houses" or 2010 Wholesaling Seminar on my blog at michaeljake (add dot? C O M)
Hey Mike, what type ... By: TheMotifES8. on 25 Jan 11, 18:21:06 Hey Mike, what type of contract do you use or more? specifically, where can I get that contract to sell the LLC to the end buyer? I'm sure the buyer would also want to assured the LLC is clean & clear from any other activities, litigations, bills, liens, etc.... Does your contract address those concerns if it becomes an issue to the buyer?
-Do the buyers make the check payable to your name or your company?
-After you sell your LLC, is there anything else you do to sever ties between You/LLC?
Forget that ... By: Filmaker25. on 29 Dec 10, 19:58:42 Forget that register it as a? Nevada or Wyoming Cor.
Hi. It's $125? to ... By: OhioDreamer. on 09 Dec 10, 14:20:08 Hi. It's $125? to create an LLC in Ohio, if I live in Ohio, can I create an LLC in Colorado and make offers on homes in Ohio? Also, after I submit the LLC online, can I immediately make offers in the LLC name, or do I have to wait? Thanks!!
- you are not ... By: localmentor. on 28 Nov 10, 23:33:02 - you are not creating the LLC to run as a business - it's a means? to and end - avoiding flash cash expenses and un-assignable contracts. Going to contract with a Trust is another option, but in my market place, they are a big red flag and I would not get as many contracts accepted. $500 to make $5,000 - do the math - else, get a Colorado LLC for $50.
An LLC in Illinois ... By: technoracer79. on 28 Nov 10, 20:30:49 An LLC in Illinois is $500. What's the point of paying that? much, and then loosing your company, by selling it?
http://www.localment or.com Colorado Real estate investment expert, Michael Jake, teaches zero down investing techniques. Learn foreclosures, short sales, subject to, land contracts, owner financing and other creative real estate financing structures. Free Colorado real estate investing course teaches you how: http://www.localment or.com
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I've read many ... By: JJCZZ1. on 08 May 12, 21:16:46 I've read many books on RE but info on them are so limited. Where did you get your training? I would like to get? started on RE investing for a long time
referrals, S.E.O, ... By: localmentor. on 07 May 12, 01:21:19 referrals, S.E.O, PPC, Direct Mail, Signs, but there's definitely more ways than 5.? Get as many going as you need to meet your goals.
Great video. What ... By: TexasWholesaler. on 06 May 12, 23:55:37 Great video. What are? your top 5 marketing strategies to bring in seller leads?
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Keep tips like this ... By: altha2008. on 05 May 12, 23:29:21 Keep tips like this Free. I used them.
A lot? of people are out there selling books using this. They do not own them.
I rather put it up like this guy does and let people use them.
no - you won't get ... By: localmentor. on 30 Apr 12, 18:40:38 no - you won't get any tax benefits other than offsetting income? with outgoing lease payments - you can't take depreciation to offset the spread in rents. Buy with owner financing or Subject To for that. I'm not qualified to give you any "tax advice" FYI.
The performance ... By: superbowltexan. on 29 Apr 12, 20:32:18 The performance base lease is interesting however is it possible? to obtain any tax benefit if the property is not actually in my name?
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5? dislikes to 111. ... By: tauheke. on 30 Mar 12, 04:34:20 5? dislikes to 111. Sounds bloody good to me!!!!!!
Great? video. Keep ... By: MagneticRealEstate. on 19 Mar 12, 04:33:12 Great? video. Keep them coming
Do you? have a book? By: TheHueFilms. on 04 Mar 12, 05:43:53 Do you? have a book?
You should write a ... By: TheHueFilms. on 04 Mar 12, 05:43:42 You should write a book tilte 15ways to Buy with no money down. I would defintily read it.?
Last 50 mins to ... By: reynoldouzjem61J. on 03 Mar 12, 11:16:39 Last 50 mins to draw your iphone4! eIGkY? accuc.info
This guy seems? to ... By: GuiaDInmuebles. on 22 Feb 12, 18:14:04 This guy seems? to know what he's talking about. I like the 15 ways, thanks!
seriously? I love ... By: frea1able. on 25 Jan 12, 21:46:31 seriously? I love this guy, just brilliant wisdom.
- sure,? I've used ... By: localmentor. on 21 Dec 11, 17:34:25 - sure,? I've used pretty much all those strategies at some point.
can u really do ... By: buytoletlandlord. on 18 Dec 11, 16:48:34 can u really do this??
Dude, you are? ... By: dfefly. on 04 Dec 11, 19:11:56 Dude, you are? amazing.
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Good stuff? Mike! By: wwpsolutions. on 04 Nov 11, 21:01:36 Good stuff? Mike!
Oh hello! Have you ... By: wajahat268. on 24 Oct 11, 08:06:15 Oh hello! Have you tried the intellectus money maker (do a search on google)? Ive heard some great things about it and my father made a ton? of money it.
http://www.localment or.com Colorado real estate investing mentor Michael Jake - is subject to illegal? buying houses subject to is a common no money down technique - it does violate the due on sale clause in most mortgages/deeds of trust, but still a very common and widely used by advanced investors. for more colorado real estate investing training go to http://www.localment or.com
I meant to say? " ... By: energyfinance. on 03 Aug 11, 16:13:31 I meant to say? " CAN facilitate" below.
I meant to say? " ... By: energyfinance. on 03 Aug 11, 16:13:18 I meant to say? " CAN facilitate" blow.
continued from ... By: energyfinance. on 03 Aug 11, 16:03:54 continued from below:
And there will always be owners of homes that need or want to move on, get out, to sell.
IF I, as a principle, call facilitate a good transaction, then I am doing 'something good for society' AND, I am getting paid for doing such.
The fact that you answered as you did (my inquiry below) means a lot!! ...not only to me personaly, but, I believe, it means a lot about the future direction of "this advice business", and the? future business models to be formed around them.
Thank you for your ... By: energyfinance. on 03 Aug 11, 15:49:39 Thank you for your answer.
I believe that I did see some FSBO's on some websites a few months back and then I saw some videos or ads about how to buy with no money down and no credit-- and then the subsequent barrage if emails from those people ('coaches') made me forget how I even got into this mindset.
Currenty, I have money and I good credit. What I am most interested? in here --is the process: There will always be people seeking a place to live. And there will always be owners .....
- enjoy cold ... By: localmentor. on 02 Aug 11, 18:28:46 - enjoy cold calling? sick! ;) You can find people actively selling on craigslist and FSBO sites, any property for sale websites (google to find dozens of them) and/or you can go after those likely to? need to sell subject to (low equity). I target owners based on when they bought it, how much its paid down (time of ownership) to get people in a narrow window of "if they sell now, they'll luckily break even". SOME of those people will need to sell quick. use direct mail
Hello Michael:
I ... By: energyfinance. on 30 Jul 11, 22:18:35 Hello Michael:
I really enjoy cold calling AND I understanding concept of 'subject to'.
Sir, if you will share here: What are the ways you identify owners who may? want to sell?
Are you going after them, or, are you placing some sort of "I buy houses" ads out there? (meaning: newspaper, sign posts, internet)
I think that there must be many ways to identify and connect with owners who are wanting to sell, and I am wondering if you can share something substantial here.
Thanks,
Warren C.
Hello Michael:
I ... By: energyfinance. on 30 Jul 11, 22:17:18 Hello Michael:
I really enjoy cold calling AND I understanding concept of 'subject to'.
Sir, if you will share here: What are the ways you identify owners who may want to sell?
Are you going after them, or, are you placing some sort of "I buy houses" ads out there? (meaning: newspaper, sign posts, internet)
I think that there be many ways to identify and connect with owners who are wanting to sell, and? I am wondering if you can share something substantial here.
Thanks,
Warren C.
- can you, YES, ... By: localmentor. on 19 Sep 10, 22:56:18 - can you, YES, would you want to?... if they bought it? for 600k and they owe around that and it's worth 350k now, the ONLY reason to do that would be for CASH FLOW monthly till the market recovers. NOT Likely you can even remotely cover the debt service with a rent payment, let alone cash flow it. Even if you could, it's soooo upside down there's no point in it. Short Sale it or turn it over to an agent to short sale it and make an offer on it that way.
hey mark heres a ... By: TheDestroyer1219. on 03 Sep 10, 20:56:51 hey mark heres a scenario please tell me if this is possible?
lets say that there is a property that was worth 600.000 thousand 3 years ago and now in this market is worth 350.000. if that owner is about to foreclose on that property can i come in do a subjet to, pay off his late payments, then take ownership of that property, then when the market goes up? again can i sell that property for a profit to my self? is that possible and legal?
thanks budd.
I personally don't ... By: localmentor. on 09 Aug 09, 00:03:31 I personally don't get Sub2 leads? from agents. I give some presentations in my local market and I usually get that objection. I'll ask them for the page, chapter and verse of the code that spells that out. That usually ends it.
So when your ... By: matrixwithin. on 08 Aug 09, 19:25:49 So when your working with an agent do you get tired of telling them that its not illegal??
http://www.localment or.com Colorado Real Estate Investing mentor Michael Jake - here's a video on how to buy houses subject to the existing financing - an advanced real estate investing technique requiring no cash, no credit, a typical no money down deal. for more real estate investing training go to http://www.localment or.com
Since you're not ... By: JJCZZ1. on 08 May 12, 21:31:04 Since you're not formally assuming it what happens if you(new owner) defaults on the loan? How do you convince the seller to feel comfortable with this? If I was the seller I probably won't trust a third party to pay? makes for me.
Yep,? this is GOOD! ... By: showem88. on 21 Jan 11, 23:14:25 Yep,? this is GOOD! Thank you for sharing! Good Stuff!
- we automate all ... By: localmentor. on 18 Sep 10, 20:22:13 - we automate all our payments via online banking...but I don't think that's what you really want to? know. The lender has some 8/hr employee opening up payments and posting them to accounts. There's no checks and balances for "did the name on the check match the name on the loan". Lenders will typically get a "red flag" if changing of the insurance is not done properly.
How do you pay ... By: HJosephD. on 18 Sep 10, 15:00:03 How do you pay without alerting the lender that someone? else is making the payment?
Joseph
Why don't you? live ... By: speedstick257. on 25 Aug 10, 16:17:15 Why don't you? live in MI ... T_T
Why don't you live ... By: speedstick257. on 25 Aug 10, 16:16:46 Why don't you live in? MI ... T_T
- you can claim the ... By: localmentor. on 18 May 10, 21:22:15 - you can claim the deduction for payments you have made. The lender reports it under the SSN of those who qualified for the loan, but it's their right, not obligation to? take it. If you make the interest payments then you can claim the interest deduction. Talk to your CPA about it.
My assumption is ... By: MicrowaveDisplaycom. on 17 May 10, 05:58:24 My assumption is that the buyer (new deed holder) will not be able to claim mortgage interest on his tax return, but the seller still will, since the mortgage is still in his name, even though the title / deed? is not.
My reading is that the interest deduction may be taken by whoever is responsible for the loan (promissory note), and the seller still is.
Is that correct?
You don't "go over" ... By: MicrowaveDisplaycom. on 17 May 10, 05:57:42 You don't "go over" the due on sale clause, you simply ignore it & make the monthly payments.
Mortgages say that the mortgage holder HAS the right to declare it due in full if the title is transferred (such as in a "subject to"? transaction) but there is no legal or contractual requirement for the seller to TELL the mortgage company a transfer has taken place.
As long as payments are made and stay caught up until the property is paid off - by resale or payoff - then there should be no problem.
how do you go over ... By: BIGTOPCHICAGO. on 24 Mar 10, 07:10:34 how do you go over the? due-on-sale clause .
BIRDDOG ALERT: I'm ... By: olwen1987. on 12 Feb 10, 23:03:39 BIRDDOG ALERT: I'm offering 1% finders fee on my 63 unit apartment for sale in Thunderbay Ontario. That's $22,500.00 in your pocket if you bring the buyer to the table. This is no joke. It will be? a win win situation? if I can sell my building so please try and find me a buyer and I'll gladly pay you 1% of the purchase price which amounts to 22.5k. Please email this to all your friends who might need money. Details at:? mshinvestments(.)com
It is possible. ... By: localmentor. on 27 Jan 10, 22:25:56 It is possible. You need to know and abide by your state's laws. For instance in CO, you have to use a state approved disclosure contract and give them 3 days to cancel in writing.
You would catch up back payments, make the loan current and? then have time to rent, sell, lease option or even retail to end user.
I would NOT suggest you ever do a lease back.
I prefer doing sub-2 deals on houses with current A paper loans.
Question, Is it? ... By: dirkdigla1914. on 27 Jan 10, 18:58:50 Question, Is it? possible to do a "subject to" deal on a foreclosure, or is that type of strategy strictly for non-distressed properties?
http://www.localment or.com Colorado Real Estate Investing Mentor Michael Jake showed Louis Batides how to make $6,000 on an REO Wholesale deal. Louis went out on his first day, looked at 6 houses, wrote one offer and made $6,000 by Wholesaling REO's. Get Colorado Real Estate Investing Training at http://www.localment or.com
http://www.localment or.com Colorado Real Estate Investing Training delivered with exceptional value. For Colorado real estate investing training or a mentor for real estate investing in Colorado Springs, Denver check out http://www.localment or.com
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Latest comments made on this video:
By: founditontheweb. on 01 Aug 11, 18:33:45
@ChateauSiran1986 so could I.? Your question sounds like you would be a good Hard money lender... D.W. Van Hook
By: localmentor. on 25 Jun 11, 20:13:08
see michaeljake d o t c o m for a video on how to build a buyers list, but any contingency in your contract will allow you out of the deal - like "inspection" or "subject to partner approval" if for some reason you can't find a buyer, you notify? the seller that you are not going to close do to that contingency....or any buyers that you did have look at the deal and didn't take it - ask them what they would take it for and go back and renegotiate with the seller.
By: Ednyce81. on 24 Jun 11, 21:44:06
great vid. me being new to real estate and wholesaling for some reason was nervous/scared about closings and paperwork but watching this vid. it seems like theres nothing to? worry about. the only question i have is that what if you cant find a buyer ? what happens then ?
By: localmentor. on 23 Jun 11, 20:19:09
@ChateauSiran1986 - no idea what your skill? level is. Could I? Yes
By: b29349. on 16 Nov 10, 10:58:09
Yes. ?
By: b29349. on 16 Nov 10, 10:57:41
Ask a Attorney to allow you to sit in on a closing. Each party gets a copy and copies have to be filed. There alot of them - to many? to list. My last closing there were 14 sets of them.
By: localmentor. on 19 Sep 10, 22:52:32
-? I believe this was a double close, so yes there were some closing costs
By: localmentor. on 19 Sep 10, 22:51:39
- this was a double closing? if I recall
By: localmentor. on 19 Sep 10, 22:51:05
- yes and no,? not yet.
By: raulchacon123. on 15 Sep 10, 16:39:14
i have a question, as a wholesaler why did you need? to sign so many documents at closing?? what where the documents??
By: TheMotifES8. on 13 Sep 10, 18:45:12
Do you ever make offer to homeowners who have defaulted on their mortgage loan? Do you have a video? post showing the bank & seller negotiating stages?
By: TheMotifES8. on 13 Sep 10, 18:33:50
I noticed your check was an odd number. Was that your assigning fee? Where there any title/tax fees deducted from your gross check? amount? Thank you
By: localmentor. on 19 Jul 10, 22:58:32
- on? this deal the seller's agent/attorney had everything signed in advance. Usually there is someone there.
By: you1w. on 19 Jul 10, 18:25:43
I thought in a closing the seller, the buyer, and you are all present at closing. In this closing only you and the buyer are present. I don't understand how did that, How did you make that work? Is there a way for? you not to even come to closing at all?
By: localmentor. on 15 Jul 10, 02:23:54
- my buyer brings in money to buy from me plus my assignment fee, or in the case of a double (simultaneous) closing, funds to close? on the purchase and those funds are used to fund my purchase from the seller. Either way, no money of mine out of pocket. and a fee or profit from the spread in prices.
By: KiwiTwist03. on 11 Jul 10, 20:44:03
What I don't understand is where you got the $50,000 cash on hand. I have been trying to get into this,? but I don't know how to fund it.
By: RLJ93727. on 07 Jun 10, 18:25:54
I? like this video
By: ethanjarrell. on 18 May 10, 13:54:41
Thanks for posting this video. Very helpful information! We are currently trying to implement? some of these ideas into our business plan.
By: jt193024904. on 13 Feb 10, 03:54:44
BIRDDOG ALERT: I'm? offering 1% finders fee on my 63 unit apartment for sale in Thunderbay Ontario. That's $22,500.00 in your pocket if you bring the buyer to the table. This is no joke. It will be a win win situation? if I can sell my building so please try and find me a buyer and I'll gladly pay you 1% of the purchase price which amounts to 22.5k. Please email this to all your friends who might need money. Details at:? mshinvestments(.)com
By: localmentor. on 19 Jan 10, 02:56:31
you can go directly to realquest or sitexdata and then you can? pay for what the title company will give you for free.
By: localmentor. on 15 Jan 10, 13:12:00
yes? and you should be able to buy a data CD from them. It's easier for me to get that info from my title company - it's formatted and easier to use.
By: 90260. on 29 Dec 09, 10:30:56
So he got paid the profits only ? knowing that the Title company has the full amount? and the other guy is only obligated to pay the buyer $8000 somthing? i don't know if i got this right
By: aftereight01. on 30 Aug 09, 17:07:58
Double closing: I find a motivated buyer a house that matches their investment criteria. The buyer, myself and the seller go to the title company together to close. I close my assignment contract with the investor and collect my assignment fee (i close). Then the Actual buyer closes with the seller (2nd? close). Not necessary. Once buyer signs assignment with you they can pay you right then and take the deal from there. Its up to the 2 of you how you want to close.
By: Pyromaniac21. on 25 May 09, 22:05:17
If? this was a simultaneous closing didn't YOU have to pay some closing costs?
By: Pyromaniac21. on 25 May 09, 21:33:12
Explain to me what a double? close is and what a simultaneous close is. The REI books I've read on wholesaling/contract assigning leave these terms out and also completely leave out what to do when seller has an RE broker/agent.