All Forum Posts by: Corey Gelineau

Hello BP Community,

This would make a great vacation home, rental, or resale. The seller had to relocate and did not have the time to get the necessary permits (under 10K) before selling. Once permitted, a buyer can realize an increase in value estimated at 400K+.

Here are some details:

✴️Address: 92-2381 Ocean View Pkwy, Ocean View, HI 96704

✴️Year Built: 2014

✴️Lot size: 1 Acre

✴️3 Bed, 3 Bath

✴️1166 sq ft

✴️Ask: 160K cash

✴️No repairs needed.

Here is a link to view pictures: https://www.trulia.com/home/92-2381-ocean-view-pkwy-ocean-view-hi-96704-138343883

For more information or to connect, reply to this post or contact Corey at 360-320-0265.

Hello BP community:

I have a property under contract for reassignment in Atlanta. 

Asking: 460K

ARV: 640K

Rehab costs: minimal (96% newly renovated)

Listing description: https://www.zillow.com/homedetails/3390-Cedar-Island-Dr-SW-A...

Corey Gelineau

360-320-0265

Hello BP Community, 

I am seeking to offload a property in Volcano, HI:

Property details: 1 Bed, 2 Bath, 950 sq ft, .44 sq ft lot, built in 2000

ARV: 300K with permits

Asking: 175K

Please contact me for more details,

Corey

I am seeking a wholesale mentor. If interested, send me a message. Thank you!

That would be wonderful, Jonathan, thank you. 

Some states require a real estate license to wholesale (e.g., Illinois). Is this license state specific (i.e., does wholesaling in Illinois require an Illinois real estate license?), or is having a real estate license in any state fulfill this requirement? 

Thank you all for your comments and for helping me understand this issue better; I appreciate it!

The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property. Yet, it seems common practice for wholesalers to use this contingency to back out of the contract simply because they have not found a buyer within the inspection period. This appears to be a misuse of said contingency. What are your thoughts on this? And if it is a misuse of the inspection contingency, aren't wholesalers who do this running the risk of being sued and even being forced to purchase the property themselves?