All Forum Posts by: Allen Lucas

I'm an investor in MD looking to do a wholesale flip on a property I found on auction. I am in the process of selling another property but I don't know how long this house will be on the market. I haven't been on the inside but I know in excellent condition the home could sell in the mid $200's but I'm looking to buy low and sell low to another investor. Anyone  know where I can get funding from?

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Why don't I want to use OPM?

I have accepted an offer and am on my way to selling my first real estate property. I should be profiting roughly $30k. $20k less than originally anticipated but I'm happy it's about to be behind me. My question now is when should I be looking for my next investment? After the home has sold or before? I am looking to doing some wholesale deals to build Capital quickly. Should I be using my profits to fund wholesale property? Or should I be using OPM? Just looking for a little direction because I eventually want to do this full time. 

It was my second Xbox One(the first was stolen). That, like 8 games, 2 joysticks, and the kinect. It was tucked away out of plain sight in a closet inside a small suitcase. And no it's not a war zone. But it is a high crime area. I told the agent I really wasn't comfortable placing a sign on the yard. Because things like this are likely to happen and low and behold. And then to top it off its tons of evidence that the person was looking through all my drawers as well. But nothing else appears to be missing. 

Had my home up on the market for 4 days now. That's all it took to have over $1000 worth of property stolen. In the process now of figuring out which agent's client(because I had two showings today) was the thief. But my question is, who is responsible for that? Even if I find out who the culprit is, how do I pursue them? Do I have to somehow prove that the person who took my property is responsible or is there a process of elimination that they will go by? I'm deeply disturbed by this because this is he 3rd theft I have suffered in 3 years. One per year. Which is why I'm trying to leave so bad. I do have pics taken from my monitoring system but I don't know if that's enough if it doesn't capture then confiscating the item. And what about the agent? If it was their client does that make them in anyway responsible?

And I know about wholesaling, but don't you have to purchase the property to sell it to another investor? He seems to be skipping the purchase and passing it straight to another investor without ever purchasing the property. I'm not sure, but thats what it seems like. And if that's the case, how good is his offer if none of his buyers are willing to spend the money? Why make an offer if ur not gonna be the one making the purchase?

A non refundable deposit? Why would an investor give me that? I could request it, but if he asks why, what would I tell him? Just because? And yes, I significantly dropped the price of the home $25,000 to try to hurry and get it sold. I put a lot of work into it and it shows well. It just doesn't have a finished basement and I think maybe that's what's keeping people from making an offer. 

Ok. So I have had my house up on the market a little over 70 days and I have only received one other offer from an investment group for well under the asking price. It's been taking so long and I really got tired of all the appointments for people to come in to look at my home and just pass it up. My agent couldn't do nothing more to help so I started taking matters in my own hands a little. 

I get a letter in the mail from a company called H.U.B Home and Realty Solutions saying they will buy my house in any condition, they will make an offer within 24hrs, and leave me with some money left in my pocket. So I decided to give them a call. Get on the phone with a guy and he says he wants to come see the property so I say ok. After checking it out he claims to like the house and that it needs some work. The next day he offers to purchase the house at the asking price of $205,000 all cash. The asking price is under the market value in my area. I was surprised but I knew there was a catch. He says that I have to take the listing off the MLS because he has an extensive list of buyers ready to go but if they see the listing on the MLS they will low ball me. That made sense but I knew that also meant I have to fire my agent. That was something I already wanted to do.

So I did what he asked. But now I'm extremely nervous because he offered me $205,000 but he(or his company) doesn't intend on purchasing it. He is marketing it to his extensive list of buyers while I get the offer contract reviewed by a lawyer. But I'm truly trying to figure out what was the purpose of his offer of he isn't the one making the purchase? Has anyone ever heard of this tactic? Is it legit?

I just put my house on the market 13 days ago. I have had about 5-6 appointments for people to see my home. It's generating a pretty healthy amount of traffic yet no offers are on the table yet. My agent believes that my floors which aren't perfectly level is keeping buyers from making offers. I'm selling the home "as-is" and I'm trying to avoid putting any more money into it. But I have nice hardwood floors in the unleveled area of the house. Is there a way to make it level without destroying my beautiful hardwood floors?

I'm getting ready to put my house on the market. What are some of the best ways to draw in serious buyers? I am not looking to sell to other investors, but to people looking for a home. What are some of the main things buyers focus on?