All Forum Posts by: Brian Corbett

@Jason Leaf

Sure.  What area of N.C.?

You should be able to find a local bank to your area that would structure it like that on the commercial side.  First position and 20% equity left in the deal would and should be appealing.  Assuming, of course, the rents work for the overall property production.

I’m an investor and property manager in Greenville NC

I have had the “I’ll buy it quickly” conversation with sellers before and gave them an Option A&B scenario.  

Option A is a quick close, as-is condition, me making a profit, etc

Option B is listing the property and all that goes along with that so they are aware of both possible scenarios.  

Either option is a win-win just depends on what they want to do.  

Good luck to you!  Keep pushing forward with your long term goals in sight!

As far as I am aware, there isn’t an issue as an agent or Realtor with you being a wholesaler as well as a licensee.  I would just advise of FULL disclosure when working a deal with a seller on your intentions and their ability to possibly get more for the property on the open market.  

With that said, often times the sellers don’t want to or can’t deal with waiting to sell, repairs, etc. which is why a wholesaler gets the deal in the first place.  

Just document that your are a licensee and that you intend to wholesale the property for a profit.  

There are banks that will do 80% LTV in Eastern NC. I have used Union Bank for this a few times. I see the comments that it is hard to find good BRRRR deals and I am inclined to agree. However, I am fine with it being difficult or everyone would do it. That is also why real estate investing is considered a numbers game. You have to wade through the properties and make offers that work for YOU and your analysis, not the sellers or the listing agent or the buyers agent. When you find the right one that fits your model, then you know that you are on the right track!

Keep searching and you will find it. The “home run deals” that you read about are there but few and far between.  You can win a lot more baseball games with 10 singles than you can with 1 home run. How do you like that analogy @David Greene?  LOL

Yes, if it is an MLS listing then I definitely pay EM and/or DD money. You will not lose the DD money unless the contract is completed and you back out during the DD period. If you never get it negotiated, the agen should give you the DD check back.

I have a couple of referrals that may work for you.