All Forum Posts by: Marlon Wilson

Hey @Christina R.

you want to check with your county clerk to be sure, not sure of how the laws are there. What I can say is just because you have a contract doesn't mean that someone else cant go behind. Your contract could/would stand if you were to take the issue to court I would think, but no one wants to have to go through all of that.

Hey Ronnie,

I deal with Houston properties, which is Harris county. Just go to the county clerk 201 Caroline st 4th floor. Have contract or memorandum stating that you are purchasing property notarized and ask to file it. Its $30 but well worth it, you cant market your properties with a peace of mind

Would love to network with you, I think I'm a pretty successful investor. Looking forward to meeting you!

Didn't know you were from Texas Ronnie, so you definitely can file the contract and cloud title. Let me know if you ever need any more info!

Hey Ronnie,

I ran across this on my very first deal as well. What I have learned is 2 important things. First. Build a relationship with quality buyers. What I mean by this is quality beats quantity. I have a buyers list of over 1000 buyers, although my last 9 wholesale flips have been with only two. I make sure that these buyers get the first look and we have a trust relationship. Secondly, in Texas you can file a memorandum of contract and cloud the title, this will block the sell in case someone actually tries to go forward with it, those are two things you should consider.

Welcome Chad,

Im also an investor in the Houston area that focuses primarily on Wholesale properties. As far as building goes that may be a little tough as well if looking to do it in Heights or Museum District, those areas get pretty pricey, not too mention the competition. What I see going on is investors purchasing properties in those areas, tearing them down and rebuilding 2 properties. I think this is a very effective strategy if you can grab a property low enough. Hope it all goes well and look forward to networking with you in the future!

Thanks so much @Bill Gulley

I was looking to sell it to a retail buyer, so I'm thinking I may have to hold on to it which shouldn't be too bad.

I have a property that is worth 95k ARV, I was able to subject to the property in which only 56k is owed on mortgage. I want to just paint and clean the property then list it. Will I still have to wait the 90 days to sell because title was changed in my name, although I never came out of my pocket for anything?

I would make sure the property is priced right, also I make sure that end buyer makes a deposit so that he doesn't walk. I typically charge $1,000-2,000 as a deposit.

Yes,

I usually add an addendum that states the buyer will have x amount of days to move prior to closing, if it exceeds those days, I will have a late fee or lump sum, and charge a monthly rate. Make sure end buyer agrees to these end terms. I haven't had an owner occupied situation where the owner did not move though.

Hope that helps!