Golden Capital Holdings llc?

Question

They are offering to buy my rental...seems as though they will 3rd party sell it immediately, likely to a fix and flipper. Not sure if they are legit. Their website says they do lots of things in the real estate world but there isn't much detail. No reviews on google or anywhere I can find.

Stuart Udis · Answer

You can protect yourself with a short contract period. Large deposits are nice, but very difficult to actually get access to escrow funds in the event of default. Normally the escrow agent will want mutual sign off even if its clear the contract terms indicate one party should be awarded the escrow funds. However short contract period allows you to pursue other avenues to sell if the wholesaler can't execute on the terms they offered. What you want to avoid is a lengthy contract with extension options. That's what many wholesalers do to tie up properties.

Also, make sure this wholesaler has a track record. Lots of wholesalers are nothing but contract executors and do nothing but tie up properties without the ability to sell to and end buyer. If the offer price is too good to be true you may be dealing with an inexperienced wholesaler who doesn't know the market.

JoLea Conn · Answer

So I wrote an update but I don't see it anywhere and want to make sure it gets posted. We had an excellent experience with Golden Capital Holdings. The main guy I talked to was Omid and he was very patient with all my questions and made me feel comfortable moving forward with them. Their realtor Stacy was extremely kind and did a great job!! The title Company, Envision Title, did a great job too! All around wonderful experience and I highly recommend them as a wholesale company!

JoLea Conn · Answer

Their offering is a good number, just can't find much about them. Just got the agreement and it's definitely a wholesale because part of it is about a 3rd party buyer. Don't know if that's a bad thing or not. Not sure of the pitfalls of selling to a wholesaler.

Jay Hinrichs · Answer

probably a wholesale company.. get a second opinion from a local RE agent so you dont get hosed.