All Forum Posts by: Brittany Murray

I have a property under contract out of state but my seller will not put on a lock box or leave a key. He is an older gentleman who wants to show the house himself. I advised him that our contract is contingent on our buyers representative to approve the sale price. What do I do because I want my end buyers to be able to look at the house without discussing pricing and all that. Also can someone recommend a good title company that with do a simultaneous close? I would like to just turn in my contract with my seller and the contract I have with my buyer and have the title company take care of it. My end buyer would take care of all fees at closing. I was going to work my first deal with First American Title Insurance BUT they want fill disclosure of the selling price and end buying price. I dont want my seller and end buyer to know what amount my fee is. Please any recommendations would greatly be appreciated. :) Brittany

Hello all!!!! I have a buyer hungry for rehabs in Maryland and Washington D.C. But unfortunately I am in Seattle Wa. My buyer will consider condemned houses and fire damaged properties as long as the price is right!!!!!! If you have some properties you would like to push and would like to split the profits 50/50 and are an ethical investor please inbox me or inquire in this thread. Maybe if anyone out of state has buyers looking to invest in Seattle we can partner up as well.

Has anyone ever bought a property from a wholesaler without putting any cash up front? Is it possible to get a property under contract with a wholesaler (who has a contract with the seller) and then sell to your buyer???? btw this is an out of state deal. :)

Hello all! I know everyone is super busy being successful Investors and I would greatly appreciate some of your time. There is an apartment complex one street over from where I live and is serious need of some rehab work. The walkways on the 2nd and 3rd floors are tattered underneath like it might fall soon, the front sign is missing some letters, it needs some serious paint, lanscaping and tlc. It has been in this condition for years. I recently hunted down the owner of this building and he is all the way on the east coast (im in seattle) and I would LOVE to acquire this property but of course I don't have 2 million to put up or the collateral to get a loan that big. I was thinking about calling my buyers list and asking if anyone wanted to partner in this deal with me but I would rather own by myself but I wont be choosy. Maybe a hard money loan would be appropriate? Im getting ahead of myself as I havent even contacted to owner to see if he will let me buy from him. What do you think the chances are of him wanting to sell to me? Do you think I should go in with a strategy to talk with him over the phone? Any advice would be greatly appreciated as this has been my dream and I feel there is an opportunity here and I dont want to lose it because of a financial issue. Thank you!!! I will be calling the owner right after i am done writing this and will keep you all updated.

Ive been curious about this topic and ive done some research but only came up with more questions. Is a wholesaler able to file a 1031 tax exchange if they used the money they made on each deal for investment properties? If so how are you doing this? Or are you just paying your regular income tax. According "Rich Dad" if you cant file a 1031 it would be considered 50/50 income (50 percent for you 50 percent for the government) Also I do all my deals under my LLC. Thanks!

thanks Tim I love all of the posts you make on here Ive learned a lot from you!

Hello everyone and thank you for taking the time to review my deal and give your professional opinion. ( I deal in rehab properties)

I found a condemned house in my area and researched it in the tax record online and found that it foreclosed and it is owned by the bank.

The asking price for the bank is $89,900 estimated through my research that the ARV is about $206,000 3bd 2ba house 1,964 sqft.

I contacted the selling agent who advised there is no foundational problems and the roof doesn't need to be replaced BUT there is a septic issue and the basement has flooded with feces. The basement has been converted into 4-6 rooms but are rumored to not be up to code and the stairwell needs to be widened. The electrical needs to be updated as well. The property is condemned but once the utilities are turned on it will no longer be considered condemned.

After doing my own calculations I made on offer of 55,000 cash which will be forwarded to the bank. I plan on doing a simultaneous close with my title company. Could I please have your opinion if I should've made a lower offer or keep on going with my original offer. Another investor made an offer for the price of the land only. Also I have a few buyers that I know will want to snatch this up because of the favorable spread. Thank you in advance.

Brittany

I Agree with Randy....you need to have your
property cashflow so you arent stuck in a bind if something comes up. Hoping for appreciation is not Investing its speculating. Get the
price down so the numbers make sense.

Thank you for the advice Brandon Turner Greys Harbor is beautiful I would love to venture over there someday. I tried adding my picture a few times but maybe it's just taking the system a little time to refresh and show my picture. I will definitely check out the newbie guide. Thank you all for the collegue requests!

Hello all! My name is Brittany and I am a new investor here in the Seattle area. I pretty much have decided to jump in after a few years of being on the fence about investing in Real Estate. My grandfather made it pretty big in the Stock market with his various investments and I hope to follow in his shoes. Although im not much of a paper investing kinda gal I do enjoy anything to do with real estate. I took a realtor course through Century 21 a few years ago for fun (i was making good money as a blackjack dealer) So I am starting at a point where I know the basics. I have also read several books on REI mainly books based on Foreclosures, Purchasing SUB2 with rent to own as an exit strategy.

I would love to join a Seattle mastermind group and make friends with like minded people. I plan on retiring early and I need about $25,000 Cashflow a month to have the lifestyle I would need. My goal is to own 2 or 3 large multifamily properties 100+ units each and contract a management company so I can be a less hands on owner. To get there since I do not have much credit or funds I plan on wholesaling a few deals so that I can gradually trade up. Thank you for reading my post and I would love to hear from you!

<3 Brittany