All Forum Posts by: Aaron Davis

Thanks again. I'm going to a rehab/wholesale weekend training from our local reia in a few weeks. Looking forward to getting some networking started from that as well as answers.

But you can wholesale a bank owned property right? Is it more complicated than a regular wholesale?

OK that's what I was thinking. I didn't figure many investors would want to make a blind purchase. It's probably happened but I figured it was the exception to the rule.

So that brings up another question. Do you wholesale foreclosures as well? How does that work to inspect house? Just look through the windows?

Thanks @Blair Halver

I'm just getting started in wholesaling. I have a direct mail campaign started (haven't received any responses as yet) and was pondering something. When I do get a house under contract after having looked it over to make sure it is an actual deal how do I go about looking over the house again with my end buyer? I'm sure they would want to look it over as well right, not just rely on my arv and repair estimate. Or do end buyers simply take my numbers based on the sale price I'm asking and their knowledge of the area.

No I can't do a heloc. I already checked on that. I can only take it out on my primary.

I am strongly leaning towards keeping the property even if it means I don't get to use it to help another deal along. After all getting to have a paid off property in five years isn't too bad, and the money I can use from it then on other deals, well... it's just hard to beat.

Thanks for helping me think this all through. I'll make another deal happen somehow. Maybe that 4plex with a cash partner...

We were probably typing at the same time a minute ago.

I did buy the property from a family member, but there is no financing involved. Just paying down the agreed to price between the family member and the person they bought it from. To the people involved in the first transaction, and to me for that matter, a handshake was all that mattered.

Also, thanks for the advice. I'm not really wanting to sell the property, but I am a little short of cash for a down on starting another investment opportunity.

I realized after reading back that I said interest free and it probably raised some skeptical eyebrows. It is interest free in that I took over payments from a person wanting to get out from under their agreement with a third party. Their agreement was for a set price (market value at time) paid out at a set amount until the agreed sale price was met. When I took it over the third party did not ask for renegotiation of terms. The person I bought it from owned it free and clear as far as title was concerned since at time of agreement the third party transferred title to my seller. My seller then did the same with me and the title is mine free and clear. I stick to my word though and so I consider it as being mortgaged even though no mortgage contract is in place.

Phew that was a mouthful.

Thanks for the help guys. I don't know much about cash out refi's or like you said @Al Williamson if they are available.

Hey I also found a 4plex in my area that is priced incredibly low. Has two 2b apts and 2 efficiencies. Asking less than 25k. Not in a great area and probably needs a lot of work but something I'm going to look at at least. ARV for the property in the area is likely around 65k.

Needing to pick some brains for some different ideas.

I have a rental property I picked up just about two years ago. I owe about 30k on it. It's worth 65-70k. Payment is 475/mo and it is an interest free loan. Will be paid for in about 5 years. Rent is 800/mo.

I'm wanting to get some cash to finance some investments and am thinking about selling the house to get the cash for it. So what do you think?

Thanks guys. I appreciate the help.

Hello everyone,

I'm a new guy in the Tulsa area looking to make some contacts with the other Tulsa area (or eastern Oklahoma for that matter) investors. I have a rental property and have for a couple of years now. I'm looking to expand through wholesaling and flipping to grow a wider base of rentals both SFH and MFH. If anyone is out there and interested drop me a line.

See you all around!