All Forum Posts by: Apurva Sanghavi

@Michael O. Thanks a ton for this, you're correct it was a Land Bank deal, im reaching out to them to see if its even doable.   I really appreciate your input! Cheers!

@Wayne Brooks thanks for the help!

@Christopher M. Thanks, you may be right, my partner is flying in to see the house early next week, are you free to connect by chance? we're working on more deals in Detroit and would love to link up with some professionals in the market! 

Hi guys, i have a small cash deal in the works from a motivated seller on a SFR in Detroit Michigan. They have a rehab lien on the property that requires repairs to be done in a certain timeframe to get the property up to code requirements by the city of Detroit. They cannot their warranty deed until these repairs are done. Im working on this deal out of state so not too familiar with this type of lien, anyone have experience with this? any advice how to navigate? can i work with a title co/closing attorney office to help navigate? Thanks in advance for any help!

Hi just curious if anyone may know of a RE broker that would have an office space for lease available? We're opening an office in Chicago for our retail mortgage business and our team would love to work alongside a brokerage who's agents could use a seasoned lender near them.  I figured most of the members here would have some good agents or brokers in their network so wanted to start our search here... 

Our employee will be living near Hawthorn Woods, but its not critical that the office be near there, but obviously would be a plus!

Thanks so much for any referrals you can offer! 

Hey @Anuj Kapur, welcome to the BP community! I'm in Houston and have been RE Investing personally for quite a few years, as well as my family for much longer.  I'm looking to do some larger projects in town, specifically apartments and self storage.  Would love to learn more about your goals and see if there's some alignment.

Cheers!

Stephen can you send me more info on the package to [email protected] I'd like to know more about them. Thanks!

Hey guys how do you typically structure a deal when sourcing a distressed properties through a Realtor? I'm totally open to paying their full 3-6% commission (assuming the numbers work)... but I was curious if any of you get pushback from agent worried about sending you an address to look at first, so you don't try and cut them out... I of course would never cut them out, its bad business in my opinion, but I'm curious the right way to setup a deal? Do you sign a buyers rep agreement for that 1 property each time? I'm trying to work with my local agent community to source more deals but was hoping to get some more info from anyone who's working with agents and your process for doing so? Thanks in advance!! (I'm an investor in Houston, TX)

Hey guys!

I've bought about 6 rentals in the past 8 months and looking to get a few good GC/Subs in my rolodex.  I'm working on acquiring about 6-7 more this year and would like to have a good crew ready as i acquire.  Last year i patched together a few subs and the timelines and quality of work was not what i'd like to keep working with.

If any of you have any rec's for a good GC that can handle rental quality rehab work, please pass along their info!

I'm happy to give any info or contacts back in exchange for the help! 

Hi BP!

Im under contract on a package of 4 Single Family Rentals in Cypress Tx.  All 4 are in great condition and tenant occupied.  I'd like to see who you guys would recommend for financing options for these?  I'd love to find a lender who'd lend on appraised value instead of contract value as i'm buying at a discount.  I know this may not be an option, but figured id ask.  

Id like to buy them in my current LLC that holds my other properties rather than take on more loans in my personal name, but of course happy to guaranty them personally.

Let me know what options are out there and what kind of LTV, rates, and fees you're seeing?

Thanks in advance! 

@Adrien C. & @Account Closed Thank you both for responding... this is exactly what i experienced, it is pretty clear thats one of the key value pieces for a wholesaler, you have to be the point person for all parties.  Good to know that i wasnt the only one... excitedly i closed my 2nd assignment deal since putting up this post.  I am trying to create a system around the transactions itself from writing the contract, coordinating title, marketing the property, to exactly who needs to be contacted and when...to me thats the only way to scale!

Thanks again for your feedback, super valuable!

Hey guys, excitedly i just completed my first wholesale deal(s) this week... but i quickly learned that there's a lot of communicating that needs to happen and coordination between the primary seller, the end buyer, and the title company.  

Do any of you have a standardized process, workflow, or checklist that you use to run these deals?  

Specifically i found that we had to coordinate keys, the seller move out, the closing times, wiring instructions, and various other little details to get the deal done... being this was our first one, it was unclear who communicates all of these as there was obviously no agents or brokers involved.  

Any advice or best practices would be great appreciated!