All Forum Posts by: Anthony Billie

So the buyer gets the sold amount only if they own the home ... right? Also if we put numbers to this to make sense of it.  If a buyer purchase a home at 100k and have only 60k equity in it leaving the bank to own 40k of the home.  If the home goes for 40k the bank gets it? If over 40 do the buyer get the difference?

Hello,

Im still brand new and trying to educate myself as much as possible by studying, reading books and posts here.  I am looking to start investing in the wholesale market.  One question is about the equity.  I understand what it is to having equity positive or negative.  My question is how does it play out if your are wholesaling the home, it being double escrow or an assignment.  If they do not 100% own the home then what happens to the money owed when selling the home?  A little clarification would be great. 

Thanks guys.  Cant wait to get started.

Hello BP members,

My name is Anthony and I live in Greenville, SC. I am brand new to REI, but eager and determined to getting started and being able to achieve financial freedom. My first venture I am looking to get started in is the wholesale market. I am currently still learning more about the business so I have not done much yet. So far I am looking to get more educated on he legal aspect of the wholesale market. I've come across bumps in the road on understanding the contracts and types of contracts. It does appear that a title company or lawyer may be best to review the terms, but I am just looking for a better understanding for myself first.

I have enjoyed reading the different threads here so far and look forward to meeting and networking with everyone in the upstate area.  Im ready to start right way, but I also want to be well educated for success. 

Thanks,

Anthony