All Forum Posts by: Belinda D.

I cannot find the answer to this under the search tab:

Scenerio 1: Husband and wife are living in the matrimonial home, but wife is not on title.   If they decide to sell the house, does the wife need to sign the Purchase Agreement?

Scenerio 2: Matrimonial home is vacant and husband and wife are separated or getting a divorce. Husband wants to sell and wife is not on title. They are not speaking to each other. Can he sell without her signature or does he have to wait to see the conditions of the separation agreement or divorce decree?

Thanks.

Congrats!

Check if there are any contractor associations in your area. They might have an advertising board or site that you can post on. Go to Home Depot and post on their board ask if you can leave flyers or a large print ad near the entrance/exits or hand out flyers to contractors, roofers, etc.

Maybe your numbers (ARV, repair costs) need to be adjusted?

@Dean De Pew, although you mentioned it at the beginning, I missed that you "already" have the deal under contract. 

Stop waiting for private/hard money. Now you need to do "mass" marketing to get it closed: Get a Pro account here on BP asap and market it in the "Marketplace". Market it to people in all the real estate investment meetings in your area. Check the properties that were sold (for cash) in and around the subject property area and market it to those cash buyers. 

@Dean De Pew 

Don't be discouraged!

Being proactive by seeking private money or hard money as an exit strategy "before" getting a good deal and putting the property under contract for the purpose of wholesaling is good idea. I am sure others will chime in to mention if your State has any restrictions about receiving private funds. 

Also, just because someone (private or hard lender) has it does not mean you should take it. They are evaluating you and the deal you bring and you should be evaluating them. Be careful who you do business with.

Knowing that the money is there for you, might give a feeling of security/confidence when negotiating with the seller and it may provide the options you mentioned (purchase the property for yourself to rent, fix and flip), quick resell to a retail or investor buyer. However, all these other options including the hard money lender have additional expenses/fees. So take all of that into consideration. Someone might say yes to you, but may not deliver when you need them, so you should have more than 1 lender and you should have at least 2 back up buyers (just in case the 1st buyer does not close on your wholesale deal, even though your contract mentions the "non-refundable" deposit).

I don't want to be negative, I just want you to examine the pros and cons of your plan/strategy.

The fact that you are being "proactive" shows responsibility. If I could lend, I would definitely consider you and would start by explaining my lending criteria/what I consider a deal to be, the risks involved for myself and you, etc.

I am also doing research to find money. I mention that I would need 100% funding, including rehab (if I choose to go that route) and the response was "only if you have a good deal". These people did not make me feel as if I was looking for a hand out. Their approach towards me was from the perspective of people who want to help me succeed. They know I am a newbie and they reminisce about when they first started.  I am glad that they have not forgotten where they came from, "newbie land".

You can do this, don't give up!

Disclaimer: My intention is not to pick on or debate with anyone about any of my points. Thanks.

congrats!!!

@Louis lipps, everyone falls on bad times. Whether his was past or current, don't contaminate with your gossip (true or false). If you are here to learn, welcome, otherwise, don't let the door hit you on the way out.  

It provides education, guidance and encouragement. It has new and experienced investors (worldwide) from every REI niche. Questions (simple or complicated) are answered.

It's a nice place to meet with like-minded people. It's my real estate family (here to help and protect. Spats do happen, but we eventually make up-LOL).

Thanks Josh, Brandon, Moderators and Team!

For those who actually live or currently invest in Hamilton ON:

Which areas/streets are good/desirable/hot for real estate investing? Also please include areas that have potential (although they have fixer uppers or dilapidated houses).

Thanks.

Hopefully this link will work:

http://www.biggerpockets.com/forums/48/topics/1088...