Real Estate Investor · Vancouver, WA · Member since 2008 · 387 posts · 8 votes
Do you guys usually keep subject to's for rental properties and just wholesale other deals? If I were to wholesale it how would I determine the price to sell it for to investors?
Real Estate Consultant · Seattle , WA · Member since 2008 · 53 posts · 4 votes
17y
I usually wholesale subject-to's. Most of the time they are easiest to sell since the buyer generally doesn't have to worry about financing or having enough cash to buy. If you are able to cash flow quite a bit and there is lots of equity I would suggest keeping it yourself though.
To determine what to wholesale it at, I just basically do what I do with any other property and base it off comps and repairs needed. I just add my fee on and have the buyer put down that and any amount of payments the owner is behind on (and if they have tons of equity and are getting something out of it, their money too).
You should find that if the price is right (and maybe even a little higher than most deals because of the terms) subject-to's and anything with owner financing will be the easiest to get rid of.
Real Estate Investor · pottstown, PA · Member since 2008 · 22 posts · 1 vote
17y
Jeff,
Option Money MAY or MAY NOT be applied to the Purchase price of the property, Their is a FINE LINE between Option Consideration and Down Money, Like nationwidepi stated
Real Estate Investor · Vancouver, WA · Member since 2008 · 387 posts · 8 votes
17y
Nick, I can't tell whether you want it to hit page 4 or not, you sure gave it a shot. Wouldn't it be funny if I hit it after you tried so hard.
Also, I think you hit the nail on the head with me. I have gone into question asking overdrive right now because I finally got started doing some work. As we all know that's when you really learn what you don't know, that you need to know to get a deal done. I just wish I would have had an investor sit down with me a long time ago and given me all of the contracts to use and explained them all in detail. That hour of his time would have probably saved me about 4 months of procrastination. Maybe I'll do that w/ newbies when I get up to speed :P
If I could make a course and find out how to give it away free and find some way of making back end profit from their deals I would make a killing.
Hmm, this post wasn't really related to wholesaling sub2s.....so....
Wholesaling sub2 deals rocks big time! Do you agree? lol
Real Estate Investor · Vancouver, WA · Member since 2008 · 387 posts · 8 votes
17y
Speaking of which....I have two investors who are trying to get me into Nouveau Riche right now. I linked them the discussions here on the forums, and they are saying that the people on here don't know what they are talking about. I'm really not sure who is right.
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
17y
Originally posted by Jeff Fairchild:
I linked them the discussions here on the forums, and they are saying that the people on here don't know what they are talking about. I'm really not sure who is right.
Altus, OK · Member since 2008 · 2k+ posts · 690 votes
17y
Originally posted by Jeff Fairchild:
Speaking of which....I have two investors who are trying to get me into Nouveau Riche right now. I linked them the discussions here on the forums, and they are saying that the people on here don't know what they are talking about. I'm really not sure who is right.
Of course they are going to tell you we are wrong about NR because we interfere in them recruiting to their MLM garbage.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
17y
I second that Nick. We have all had enough of NR here on BP and there is enough discusion about it for a monkey to make an educated decision on it already!!!