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Tax, SDIRAs & Cost Segregation

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Matt N.
  • Investor
  • Clayton, MO
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45
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Purchasing wholesale property with NO CONTINGENCY PERIODS***

Matt N.
  • Investor
  • Clayton, MO
Posted Feb 8 2016, 17:21

Hi all, I recently received a large commercial line of credit to purchase distressed properties from wholesalers. I have been doing this, and miss out on most because they want cash and no contingency periods. I have the cash now but still hoping for any advice from you all on what to look for since we cannot build in any inspection contingency, there is a $2,500 non-refundable deposit upon acceptance of contract. So I will have to have my contractor meet me at the property to bid up all the work right there. 

Since I will likely be doing without an inspection on half of these deals (they go quick -- like within a day), is there anything I need to be on the lookout for? I'm not speaking about issues such as roofing, walls, water damage... that we can all discover, but what about zoning issues or other issues? Are all of these going to be cleared by the title company anyways? Sorry for my ignorance on this -- just want to know what to look out for. Thanks!