All Forum Posts by: Christina R.

I will be very, very appreciative of a thorough explanation of the "high bid" formula.

@Paul Danieli 

@Chris K. 

The P and S specifically states "and/or" assigns.  No separate addendum.  I have a separate assignment contract to deliver it to the end buyer.  It's not for a double close, it's because that's what I've learned is one way to deliver the contract to the end buyer.  The seller is in a tax sale and is trying to get more than she will be able to given the taxes and fees that must be redeemed. Right now I'm doing the cat and mouse dance with her, hoping that after a few days of not discussing it and not "hounding" her to sell, she'll see that getting something is better than getting nothing, which is highly possible if she doesn't make a decision because it's almost 2 years so the foreclosure is going to begin any day now. . .

From a cursory review of what you've said, since the properties are moving, it appears they are over-priced. Either renegotiate with the seller (s) to lower the price or if there is enough spread in your wholesale fee to do so and get the deal closed, lower your fee. From everything I've read here, heard at REIA meetings, and seen elsewhere . . if it's priced right, it will move. Everyone in all facets of REI have their bumps in the road; I would hate for you to start out as a wholesaler that gets a reputation for shopping deals that aren't deals.

I have a possible deal in the works with what I'd term a "high maintenance" seller - for multiple reasons she vacillates back and forth on whether to do it, not the least of which is the net $ to her :-) .  IF it finally comes around, I plan to do a purchase and sale and then a separate assignment contract to an end buyer.  You can find a lot of these right here on the BP files. 

@Jose Diaz 

 - I'm becoming more and more comfortable talking with potential sellers and also vetting people faster (i.e., tire kickers vs someone who is motivated).  I had one slip away that listed with a Realtor.  I have one right now that is a work in progress; hopefully that will come full circle and I'll get it.  I do get discouraged as I wish I was popping off deals like it seems others do (and notice I said it seems-  it's a perception that I know is not reality - this business takes work and hustle) but I also know that it will all come in due time and experience.  I'm off in the summer so I intend to apply myself to this best I can for the next couple of months.

@Reuben Stewart - I'd love that PM too if possible!  looking to ramp up here in MD after first campaign ends in a couple of months.

@Marc Rollins

lots of quality free mentoring right here on BP by the bucketful. Also, this is a great local FREE resource where you can meet people to network and develop relationships with - just click http://www.meetup.com/bwiMeetup/ (I tried to insert as a link but it isn't working for me tonight)

Rudy,

@Paul Danieli beat me to it. Hope to see you at the Meetup next Weds, June 11th.

PM @Tyrus Shivers - he may know of a good one locally - I honestly can't remember who we used on our house here 5 years ago and that means they weren't that great ;-)

Audrey,

When we bought our new construction townhouse in Frederick (within city limits) in 2000, it was built with a sprinkler system and battery/wired detectors were installed. This was all required. I don't know what is required in terms of a rental and what (if any) date there is to grandfather what I mentioned in. Hopefully someone here with a current rental in Frederick can tell you. I would not be surprised, however, if it IS required (battery/wired detectors).

Heck, I'm getting a new gas stove delivered and installed in July and the installation company said I need to have a Co2/smoke detector in the house - if not, I can buy on the spot before they install (I already have 2). Didn't ask because I already have them but assuming that is a state requirement for the gas hookup permit.