All Forum Posts by: Patrick Connell

Logan Allec , wait for a nice day, pull off the old one, go to Home Depot or Lowes, find one that matches or ask for someone's help.

@Logan Allec, find a handy man or roofer to replace the vent with a new one, seal up around it, and repair any loose shingles.

Will be substantially less than what you're talking about. Find someone good, pay them a great wage, and be done with it. $500.

If there are truly 3 layers of roofing on there, definitely needs to come off at some point because the structure is more than likely not designed for the weight; but for now, just patch and go.

Busy time of year, for that size it sounds like they're pricing themselves out of the job. Meaning, they have enough work and don't want to flat out refuse the job. So, they don't want it but even if you say ok, it'll be worth it due to the costs.

Welcome! I'm also in the Bastrop area, within the city actually and focus on this area for investing and sales.

You need to send an email to your lender telling them that they NEED to close on time or nobody is getting paid, including them. If they can't move it up by 24 hours then they are a horrible lender, TRID or not. Get in their *** and tell them to make it happen, otherwise the deal is dead, they don't get paid, you won't be working with them again, and sharing your experience with others. It'll happen, you just gotta push. The other question I have is, are the closing dates on your state contracts a hardline "time is of the essence" clause or if one party can close reasonably close to the close date you're still ok. In Texas, we have a closing date on our contract, but if the buyer ends up being a day or two late, seller still can't just end the Deal and take the EM.

That's ok, that moron drove all the way out there for noting and wasted his own time, money, and fuel in the process. Kick it to a different appraiser and get it done, it's just a HELOC, so no biggy on the delay.

@Jordan Decuir, "shall immediately cause existing utilities to be turned on" doesn't necessarily mean that utilities have to be on the day of execution or the day after. It means they need to call that day and schedule them to go on, if the utility company takes a day or two to get them on, then the Sellers are still meeting their obligations.

This is part of the danger you take on by doing a 7 day option period, which you probably did to make your offer more attractive. Why do a 7 day option if you didn't have the right kind of folks lined up that can do an inspection at a moments notice?

The other side to this is that although you are nearing the end of option, there are 25 ways a buyer can get out of the TREC contract and so there would still be a way to get out later on if you needed to. That being said, you lose a lot of your negotiating power once the option is over because all the other outs are contingent on something.

Smh....

Then you need a better tenant screening process.

As a wholesaler, you're typically a principal to the contract and therefore aren't Brokering a deal, but rather selling your interest in a property to a third-party for a fee. This would lead to the question of whether or not your Broker is entitled to a part of the transaction fee. Since you're not getting a listing agreement and selling the property for an owner, your Broker wouldn't be entitled to anything since you're not making a commission on the sale of the property. The final question revolves around your responsibility as a license holder. Most states will require you to notify the seller you're licensed and may require you to provide them with a CMA or other honest assessment of their properties value. You will need to check with your State and find out, since this is where you'll be nailed. Always be honest with the seller about what you'll be doing with the property and you should be fine.