All Forum Posts by: Tyler S.

Matt when I get comps that are a little bit different I use a trick I learned about a month ago which is adjusting on the difference in sq ft and/or number of b/b, lot size, year built, and also you have to take into account what type of terms were on those comps when they sold. For example if an investor bought one comp he most likely bought it at 70% ARV minus repairs like Stinson said and not at market value. How many comps did you pull. I usually try to aim for ten and adjust and average as well as I can and then be sure that my investors will be happy at the price that I get it at. If you are unfamiliar with adjusting on comps email me at [REMOVED] and I will help you out with understanding them.

What is the most wholesale deals per month you have ever done and how much marketing and what type of marketing did you use?

I'm asking because were deciding between shortsale and deed in lieu and her lawyer is tellin her that a deed in lieu will wipe her name off of it and clear her of that particular credit. What are your opinions on shortsale vs deed in lieu?

Would a deed in lieu completely clear the credit on the home owner?

One point to getting a property under contract is to gain control so maybe the seller wont sell to someone else behind your back. If this is the case then why do some people recommend to get it recorded so you can show the whole world that they can't buy it because there is already a contract on it. If one didn't record it and seller sold to someone else after a contract was signed can you still file a lawsuit? And if so what is the point of getting it recorded?

Munira I do believe it can work both ways. In my state of Oklahoma you can either go to closing or not. The end buyer can give you all the money before closing and you not show up to closing or you can take all paper work to title company yourself and all three parties meet at closing and get paid at closing. Either way the assignment will be recorded on HUD unless you do a double close. I prefer the second way because you can build a good business relationship with buyer and title company.

I think when I was talking about paying a realtor came off as I dont want to pay anything and make easy money like gurus advertise. My thinking is Why pay for a sandwich at a gas station when you have ingredients in your refrigerator to make one. That is my deal on whether to get a license or not because if I can get a license and pull comps myself on the MLS then I wont have to pay someone and wait on them for my results. But it is not that I just want to make free easy money with one little earnest money deposit. I know there are costs in advertising,earnest money, closing fees if you double close, attourney fees when you need one, paper, ink, mileage, taxes, and if you have a license realtor and MLS fees. These are all costs that you can incur just with wholesaling and I am about to wholesale my first property and make 1500 dollars on it so I do understand the costs associated with REI.

Jerry I'm not trying to use any philophisy here I am simply stating that I am trying to find the best path for me to take which i am and thats why I am asking these questions. And I am not concerned about costs because I want the no money down hype that gurus advertise I am simply concerned so I know what I have to pay and what I dont have to pay. And what investor isn't concerned about costs? The knowlege of costs in any investment are vital to succeed and make profit.

And I'm not worried about costs. I am more than willing to pay them I am just trying to find the best avenue to take for my particular situation............. also I just dont want to have to pay for something if I dont have to........and telling me maybe I'm in the wrong industry based off my questions about costs is ridiculous because every investor is different. I am finding what works for me not you.

From profits on my wholesale deals....