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All Forum Posts by: Paul Amegatcher

Paul Amegatcher has started 7 posts and replied 453 times.

Post: Wholesaling Process If You Represent Yourself

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363

Here are some basics of a real estate purchase and wholesale process:

1. Get a good deal under contract with an assignable clause in your purchase and sale agreement.

2. Market the deal to your buyers.

3. Assign the purchase contract to your end buyer for a fee through an assignment contract.  

4.  Send the assignment contract and purchase contract to your preferred title company or closing attorney.

5. Go to the closing and collect your assignment fee.

You will submit an offer to the seller with your lawyer approved purchase and sale contract.  If you are dealing with a home owner this can be submitted to them personally.  If there is realtor involved on their side then you will have to submit the offer to their realtor.

Post: The basics of co-wholesaling

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363

These are a few good ways to market without a big budget.  

1.  Get a list of tax delinquent properties from you county auditor or treasurer.  Most of these are free since its freedom of information act.  Once you get the list start mailing to individuals that are delinquent in excess of $3K.

2.  Start driving for dollars in working class neighborhoods.  Just write down addresses do not worry about taking pictures that is not really worth it. Check out this link on how to drive for dollars: 

https://www.biggerpockets.com/renewsblog/2013/05/0...

3. Network with other investors.  Offer bird dog services.

4. Search craigslist or Zillow for For sale by owner ADs.

5. Similar to driving for dollars, drive around and call for sale by owner ADs and For Rent signs.

6. Check the court records for recent evictions and call or mail letters to landlords.

7. Contact your city and request a nuisance violation list using the freedom of information act.  Contact owners on that list.  My city has a housing court docket on their website so I can mail to people that have court dates for housing nuisance violations.

If you are too broke to do any of the above listed items then you are too broke to invest in real estate.  Increase your education or volunteer to work with a mentor to build up your real estate education.  

Post: Should seller file for a quit claim

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363

The seller cannot remove the niece from title without her signing the quit claim deed as well.  In order to accomplish what you want done you will have to convince the niece that selling the property is in her best interest.  Good luck.

Post: List Source Alternatives..

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363
Originally posted by @James Phillips:

@Paul Amegatcher

How are you getting the tax delinquent list? Can you get one on list source?

 I can't speak for the west coast but in Ohio most counties provide the tax delinquent list online or by request for free.  The county I live in has over 8000 properties that are tax delinquent.  Some are several years delinquent.  It takes about a year to foreclose in Ohio.  

Paul

Post: 11 PROPERTIES IN 14 MONTHS

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363
Originally posted by @Robert Rayford:

@Paul Amegatcher, I'm actually looking for the wholesalers with a pipeline that will offer even more deals to pick up. My plan of action is to buy as many properties as possible before the market tops in the areas I operate in. Timing is everything in the next 18 months, with the current rise of values and the inventories shrinking as more and more investors enter the market. Most new home builders are not building entry level homes this also adds to the inventory depletion in my areas. I have also noticed that the buy and hold investors are smarting up and are turning away from the turn-key market, they are finding additional buying power and leverage by becoming part time clip-board rehabbers. I have thought about selling off my properties that are in waiting but that would be counter productive. It's best to offer equity buy-in's (notes) to the sideline investors whom would like to have their money working in the R.E markets.  Thanks for the vote and your reply.  How's the market doing there in Ohio, I've been looking at Cleveland for the past 1yr but haven't made a move yet.

 Ohio markets are usually slower than most when it comes to appreciation but we are in an upswing right now.  I cannot speak for Cleveland as I'm located in Dayton.

Post: 11 PROPERTIES IN 14 MONTHS

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363
Originally posted by @Robert Rayford:

In the first 14 months of starting my R.E Investment Company I was able to purchase, rehab, flip or hold a total of 11 properties all self-funded. It has been an interesting journey to say the least. I started like most new investors except the fact that I am a General Contractor and have been remodeling properties for others investors for 30yrs. I read everything I could get my hands on and watched all the videos/webinars. After attending some of the free "get rich in real estate" seminars it became clear that I would have to come up with my own system for R.E Investing and Rehabbing. I rolled the dice and bought as many properties as I could buy through cash, cash w/carry backs, seller floats, mortgage wraps and leveraging deals. I boarded up the properties in the slower markets, I started rehabs on properties as each market dictated a good return. Sometimes I would flip a new purchase right away if the market was right, thus leaping over a property bought prior in the year. I studied past and present projections, I now understand the timeline of the market rise from the West Coast to the Southeast. Oh, I should mention that I flip homes in Las Vegas NV, Jacksonville FL, Tallahassee FL and in the Bay Area California.This year's goal is one flip a month and with a 3yr plan of 5 flips per month it has become evident that a lending partner is needed to achieve this. Self-funding projects can only take you so far. Who knew that a $18k first investment would produce a volume of 7 figures in 2 yrs. I am currently looking for a Lender, PML or Funding Partner that has a asset based product or asset based program that lends to a LLC.If you are interested in great returns for your money or would like to team up with a fast growing R.E Investment Company please send me a PM.

 Have you considered wholesaling the properties that you cannot renovate right away?  It would save you money on insurance and other holding costs.  Plus you get a quick return on your investment.

Post: Looking for free lists via county websites

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363

You can request tax delinquent lists from the county Treasurer or auditors office.  Here in Ohio these lists are free.  I've heard of other states that require a small fee for the same list.

Post: Vacant Property in Brooklyn

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363
Originally posted by @Pedro Recarey:

Hey Bp

I've trying to get my feet wet in wholesaling for a while now, I've seen some vacant Property in my area that I think would be great for wholesaling. My question is how do you find the owner in order to get in contact with them if the property is Vacant? Some of the Property have also been bought by the bank so how do I take it off of their hands? All the information I have found on the Property have been off of http://www.oasisnyc.net/map.aspx. For people that don't know about this site, it a great tool to find out just about any information on a property in Nyc all you need is the Address and BOOM the information is at your fingertips.

Thank you for any and all help! 

 Pedro,

If the property is owned by the bank then they will list it with a realtor.  You will have to wait until it hits the market.  If the property is owned by an individual then you can try and find them through skip tracing.  There are numerous ways to skip trace an individual.  You can go cheap and type their name into google and see what happens.  You can also use a free site like quanki.com or pay a small fee to findtheseller.com.  Anyway good luck with wholesaling. 

Paul Amegatcher

Post: Skip Tracing returned mailings

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363
Originally posted by @Sara Makar:

This may sound stupid but why don't you all just buy solid leads?! I mean all that time and money invested in mailing. Time is just as valuable as the dollar. Let someone else do the leg work! If anyone is interested pm me!

 Do you have tax delinquent vacant property leads with current addresses?

Post: Skip Tracing returned mailings

Paul Amegatcher
Posted
  • Rental Property Investor
  • Brookville, OH
  • Posts 488
  • Votes 363
Originally posted by @Jimmy Cantave:

@paul 

@Paul Amegatcher 

I agree you are right 

However I assume that it was free 

Sounds like you know how been verified works.. Can you pull some searches for me if you don't mind so I can see how the unlimited works. Only if you don't mind 

 Try quanki.com it is free