All Forum Posts by: Al Johnson

Thanks Dan, I will give those guys a call.

I am in need of contractors in the ft worth area for bids on 2 jobs in NRH and hurst. Please PM me any recommendations 

Thanks!

AJ

@michael hayworth i sent you a colleague request, PM me, i would like to speak about potentially doing some business. Or if it's ok, can I give you a call at the number listed?

thanks, i will try both of those

Hey guys... I bought a foreclosure that happened to have an abandoned car on the property, does anybody know what my rights are to the vehicle? Can i sell it, do i own it? what are the steps i need to take to getting it removed if i don't have rights to the car? Has this happened to anyone?

-Al (DFW)

I was told to contact trustee and it usually is 3 weeks... but wanted to loll the audience to confirm.

I just purchased a house at the court house steps at a trustee sale in dallas-ft worth... does anyone know how long it take to receive the deed and keys? Also, what are the limitations to entering the property before i receive the item mention above?

-Al

@Larry Turowski Thanks for the feedback. The back story here is a i made a couple offers on some REOs and they took quite some time to even respond to bids (a month or so). In the meantime this random house popped up on MLS from another investor looking to liquidate a previous rental. I offered at a price 48K below a conservative ARV.... the same day i was made aware of the other dormant deals coming back to life and now am scrambling to find a backup plan. For response #2 there is definitely not enough room in the deal for incurring 2 closing costs... was hoping that if i could assign the deal to another cash buyer or even the other competitors and i could get myself out and make a small. How do i know if it's assignable?

Hey BP,

I am a new investor looking to Fix and Flip. I made offers on a few properties, never anticipating have all accepted, but there is a strong possibility that this can happen. If all go through i will run out of cash and need to wholesale one of them, the only problem is that I've never done a wholesale deal before (or any deal rather). The deal that I would look to wholesale has a quick close date of about 2 weeks. Here are my questions 1) Could i sell the deal to the other buyer that i was in competition with during the bid process (this person didn't have cash, and wanted to finance)? 2) What happens if i have to close prior to finding a buyer but still need to get rid of the deal prior to closing on my other fix and flips, will i have to pay closing costs or is this something i could write in the wholesale contract? 3) Does the seller need to be made aware that I am assigning the contract to someone else? Also, i would be using his title company so would i need to contact them for a double close (if that's even an option)?

Please Help!! I don't have any contracts or anything and would need to find a generic one from somewhere to use to shop/assign this deal.

Thanks,

Al

Forgot to mention this deal was off MLS... i believe another investor who is liquidating.