All Forum Posts by: Daniel Kohan

Andrew S. we can close as early as late November or as late as late December. So if I was going to try to do some sort of wholesale deal, I would try to delay as long as possible to give myself more time. Brent Coombs though I think is giving good advice in that I should just close on the house and then list it in the traditional way.

Brent Coombs good point for sure. I think the value here is either sell to a buy and hold investor looking to generate income for retail, or keeping it and renting it out myself. It seems like there will be a decent amount of built-in equity day 1, so maybe a potential to even pull some or all of my buyin out of the property? To my original question... if I go with the first option- sell it to a "buy and hold" investor looking to buy a turn key investment property- and I find that buyer today and he/she is willing to pay $195k with a conventional loan and my closing is late December, what would be the best route to take to get the property to the end buyer?

Thanks for the great thoughts everyone!

Hi everyone! I'm very new to real estate investing, I have two properties and just put in an offer on a 3rd. It's a 4 bedroom, 2 bathroom with updated kitchen with granite countertops and new appliances, new roof, new windows, finished basement, generally very good condition close to turn-key. It's the only 4 bedroom house in our area in CT that is listed for below $200k. The current homeowner had it listed for $220k and gradually took it down to $185k. I offered $155k and the owner accepted it (she needed to move to Puerto Rico and was in a rush to get rid of the property and owned the house outright). I'm happy to keep this property as a buy and hold rental property. At the same time though, since it's being sold at such a distressed value, I want to look into potentially doing a wholesale deal. I'm behind the 8 ball on this since I don't have a buyer list... But in any case, here's my question: I believe I can find an investor to buy this home for $195,000 based on comps in the area and based on the rental income this property can generate. Is it a potential wholesale deal? Can you wholesale a property with the end buyer using a conventional mortgage or does it need to be a cash/private investor funded deal? Thanks for your help!