All Forum Posts by: Christopher B.

thnx @Rick H. ....the seller definitely wants deed to be transferred which means i wouldn't be able to put it in a land trust correct?

Hello BP,

Its been a while since i posted on here. Between the last time I did and now I became a licensed realtor and continue to focus on R.E. investing. I came across a very motivated seller who is currently looking to sell his 2 fam rental that is currently occupied. Reason being he is relocating to another town here in NJ and is going through a shortsale for the  single fam home he currently is occupying (not the subject 2fam rental i just mentioned but a whole other transaction)  and wants to sell immediately before looking to buy/rent somewhere else

Also seller wants to make sure he walks away with atleast 10k profit and i want to make atleast 5k. I'm also aware of risking due on sale clause

ARV for property is 185k-195k

outstanding mortgage of 165k

rent roll currently at 2500

Property is in good condition, could use some fix ups

Seller is desperately trying to sell as soon as possible...i know there is not enough equity in the deal to wholesale but the thing that always confused me about sub 2s were the down payment that the buyer has to put down.

if im correct downpayment should atleast be enough to cover 10k for seller, 5k for me as well right? then what would be the purchase price for said buyer

Worst case scenario i told seller we can list on the market which he wasn't against, but he is very motivated to sell asap and im tired of passing up sub 2 deals all because they seem more complicated than i'm making them out to be...

Any advice or or input on buyers end process would be greatly appreciated!

Hi, im virtually wholesaling a property in wilmington, De. The seller is currently renting the property out for 800/month. From what i hear, attempting to sell a tenant occupied property is usually a headache.

In this case wouldn't it be a good thing for a buy n hold investor since it has a positive cashflow?

Has anyone ever had experience with tenant occupied properties?

And most importantly, does the seller have to provide some type of proof that the tenant is paying regularly?

Hello BP, I wanna make sure I have all of my ducks in a row before I put this property under contract. Anyone know of an investor friendly attorney in Delaware?

Hello Bp, came across a home in DE where the seller is motivated, she is an absentee owner and there is already a tenant occupying the property. My question is would i approach these types of houses differently? would i have to market this to a buy n hold investor? Please help BP, what would be my best options? i have little experience in dealing with Buy n hold properties...

i purchased a list from usleads list but am a little confused, the list came with only the last name and the address...i dont know if thats the mailing add. or the property that was inherited, can anyone help?

I got my first contract signed only thing is i think over-estimated the price, seller bought property for 45k last year and i got him under contract for 85k (he wouldnt budge at all! he wanted 95 at 1st)

i thought it be a good deal for a5 bedroom 2 bathroom house with only 30k in repairs needed

i made of mistake of not acknowledging that all the houses in similar condition with same # of br's sold for about 40-50k, my potential sellers are all looking at the recent transaction and see he bought it for 45k

have any of you been in a situation where u had to talk the seller down to a more realistic price after the contract was already signed?

his motivation to get rid of the house grew as the deal came across because i tried backing out multiple times and he wanted to try n make it work

can i please get a copy too?

Does anyone in the north NJ area know of any wholesale friendly title companies? One where I can open two escrows and do a double closing with no problem??

And I'm also scavenging the Internet for assignment contracts can anyone point me in the right direction?

Thanks to all for the responses, and @ Will, according to comps on Redfin the property is valued at around 240k it's 3 bedrooms and 1446 sq ft, how would I be able to make money off this deal without buying it for 70% of market value?

In the phone convo she Also she stated her husband is trying to sell his condo as well which is valued at 300k so hopefully I can kill 2 birds with one stone

From the short phone convo we had I would say motivation is a 7 on a scale from 1-10, the house has been on the market for quite some time and her mother lives in the house n she feels she's getting too old to be living there her self