New york wholesaling
4 Replies
Dov Klitnick
New to Real Estate from Brooklyn ny 11230
posted about 1 month ago
Any one have any tips of ways I can find wholesalers in the newyork or nj eary that have lists I can be added to I've been looking for properties for a little while now and just can seam to find any deals.
Olga Munoz
Investor from Brooklyn, NY
replied about 1 month ago
Hi Dov, are you looking for anywhere in particular?
Dov Klitnick
New to Real Estate from Brooklyn ny 11230
replied about 1 month ago
Olga [email protected] not really as long as the numbers work i just don't want bad Neighbourhood cuz I'm trying to get started with a 203k
Matthew Porcaro
Rental Property Investor from Long Island City, NY
replied about 1 month ago
Originally posted by @Dov Klitnick :Olga [email protected] not really as long as the numbers work i just don't want bad Neighbourhood cuz I'm trying to get started with a 203k
Remember, wholesalers typically are looking for cash only, because they usually have a date to close by.
Another thing to consider is if you're looking to use a 203k, the lender isn't going to pay a wholesaler fee as part of the proceeds of the seller's proceeds.
FHA won't want to see that on the closing statement. It's a tricky situation.
Unless you can somehow work out a side deal with the wholesaler, buying from wholesalers with a 203k is tough.
Dov Klitnick
New to Real Estate from Brooklyn ny 11230
replied about 1 month ago
@Matthew Porcaro. Thanks for ur input that makes a lot of sense never though of it that way
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