All Forum Posts by: Brent Russell

I found a house in one of my target areas that is a FSBO. Through another investment site, I found the same house listed as a wholesale property...I haven't made contact with the owner yet, and at the same time, I'm not trying to step on another investor's toes. What route should I take with this house? It has a nice profit potential as a fix & flip as well as a portfolio property should I hold on to it.

That makes a lot of sense put into that perspective, it doesn't leave the original owner out in the cold and absolutely screwed if the buyer decides to drop the ball. This I will research further. Thank you very much for the insight, I've learned a lot just in the short conversation I've had with you.

Thanks for the insight on it. I am currently doing as you insisted, learning as much knowledge as possible while circumventing paying a "guru" for information that is free on the interwebs. I've looked at some case law for Texas but as I suspected, there really isn't much to go on. I've spoken to a few realtor friends of mine that say that while it's perfectly legal in the eyes of the law, institutions frown on it. They have told me that they've never heard of an instance where a bank would call the loan because it's not in default or arrears, which points to "some money is better than no money." The concern I would have is if interest rates climb, they would be more apt to call in an effort to make more money from a higher interest rate loan. The issue I would see in that would be that they would end up with a property sitting stagnant making them nothing. Seems to be a double edged sword for institutions. Thoughts?

Small town guy from/in Texas, looking seriously into getting into the "subject to" side of the real estate market.