All Forum Posts by: Brian Christensen

17 views and no response yet?....wow.

I think I figured it out that it just means that everything has to be in good standing with the selling price of the house.

I cant by it for 100 if they owe 120 in other words.

Now when you speak of cashflow, you mean you taking the house, and renting it out to tennants, correct?

I'm new in the investing and right now, I'm focusing on wholesaling, but wouldn't mind picking up info on other areas.

Thank you Jason...

Its been difficult because I've been picking up little bits of info here and there, and everytime I try to organize it, I get a new piece of info, or an updated version of what I knew before, and it gets complicated. I needed someone to simple out the process so that I could go in and add details as necessary.

But now I have a good flow chart to kind of go off of and just deal with the curveballs that come my way. I just need to try and get some potential sellers now.

Thanks again.

When a wholesaler is presenting a deal to you...how much equity do you generally like there to be? (in the cents on a dollar comparison)

Or in other words...what is a good equity evaluation for you?

25c on the $1.00, $50c on the $1.00....etc...

I have a question about a section in my purchase and sales agreetment I plan on using.

It reads the following...

EXISTING MORTGAGE (s): Existing financing on subject property will be current in all payments of principal, interest, late charges and escrow amounts required by the mortgagee. Escrow balance has been calculated into the price and will transfer to the Buyer along with the title. Buyer will take title subject to his debt.

Does this mean that if the seller has a mortgage, the selling price is to cover, at the very minimum, the payoff value of the house (including principal, interest, late charges), plus any "escrow" amounts the seller wants?

Or does it mean that before close, the seller has to be current on all payments of the house including principal, interest, and late charges? Because if thats what means, then...isnt it impossible then to sell a house that you are in (pre)foreclosure on because being in (pre)foreclosure basically means you are behind on payments and the reason you are selling it is to avoid actually taking the hit of the house being taken away.

I dont know, maybe I'm just an idiot, but the wording of that section just came off weird to me.

If someone is willing to actually take the time to do it, can someone walk me through, step by step, the average wholesale deal? Starting with the moment a seller calls and is interested in selling their house.

I know there are plently of scenerios, but I'm looking for what the average, smooth deal would go like. Or how an easy deal has gone for you.

Wholesalepro,

Can you post a copy of yours?

The one I have is 2 pages long and even that seems too much.

That was funny as hell....

I wanna be a Rich Dick!

What do you guys usually put on your bandit signs? What do you use to make people want to call and or email?

Thats the other thing...should I put my email or phone number or both?

Just wondering how everyone is doing with wholesaling in this market right now? I just started out and still havent done my first deal yet, but its been EXTREEMLY hard to find a good deal right now.