All Forum Posts by: Darrell Lee

I think vacation rentals is a good strategy, of course depending on where you're purchasing your property.  Just speaking as someone who rents every summer to spend a couple days at the jersey shore I'd much rather hang with my family  in a rental unit then a motel and even some hotels. 

I'm in the process of finding a cash buyer. But once I do, in step 9 will I need to bring any money to the title company for them to do the title search or is that covered in the closing cost by my Cash Buyer. 

9. Take contracts to title company, cash buyer wires $80,000 to title company.

I'm running a campaign for 100% Equity Owners and I have about 400 properties. I'm deciding if I want to run with Yellow Letters or Zip Letters. 

Does anyone have any stories, tips, advice and/or experiences on which has been more productive for them? My first 100 letters (doing them in waves as that is what my capacity can handle) I did through Printing letters via Word and stuffing envelopes. 

Now after adding the cost I'd be much better off outsourcing my mailings.  I just want the most bang for my buck. Marketing budget is only $250 a month. 

Please... All feedback is appreciated.

How do you go about finding the executor? A county website?

I wouldn't rely to heavily on Zillow to give you an accurate idea of pricing unless your looking at recently sold prices within the last 6 months. They tend to be much more accurate then the predicted for sale pricing.

Also when it comes to closing and selling never disregard "The Follow up". I personally can admit to having missed deals as a Realtor and Investor because I failed to Follow-up. When that couple wants to sell that property they will sell it. You need to make sure your at the forefront of their mind once the tires hit the ground.

I was thinking about using this and changing some of the wording to fit my needs.

THIS AGREEMENT is made this ___ day of _______, _____, by and between

_______________________, hereafter called Seller(s), and

______________________and/or assigns, hereafter called Buyer.

I.DESCRIPTION OF THE PREMISES. Seller(s) agrees to sell to Buyer the property located at:______________________________

Description Written As Follows: __________________________

Description is including any fixtures, window and floor coverings, built-in appliances, draperies including hardware, shades, blinds, window and door screens, awnings, outdoor plants, trees, and other permanently attached items now on premises.

II.PURCHASE PRICE. The Seller agrees to convey property to Buyer for the sum of ____________________________________ with earnest money in the amount of __________

III.TERMS. The following terms are applicable to this contract:

1)Closings costs, attorney fees, title fees and other miscellaneous costs are to be paid in the following fashion __________________________________________

__________________________________________________________________________________________________________________________________

2)Any taxes owed will be appropriately prorated between parties at closing.

3)Closing to be set as soon as possible for all parties, but no later than ____________________________without written addendum to this agreement.

4)Property sold “as is” with no warranties implied or stated from seller.

5)Earnest money to be held in escrow by buyer’s closing attorney:

_________________________________________________________________

6)Earnest money non-refundable to buyer unless title is non-conveyable or seller not available to close within time period of this contract.

7)This contract is contingent upon clear title and final inspection of the property by buyer or buyer’s agent before closing.

8)Legal consideration for this agreement is ten dollars ($10.00).

9)Seller to provide buyer with permission to access property solely for purposes such as evaluation of repairs needed, appraisal of said property for securing financing, and professional advisement on resell of property.If property is vacant, Seller shall provide Buyer with a key to access property specifically for the reasons above.

10)Any furniture, fixtures, attachments, and debris located in and around property not removed within day of closing become ownership of buyer.

11)ADDITIONAL TERMS: ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

BUYER: _____________________________________________DATE: _________

SELLER: _____________________________________________ DATE: _________

SELLER: _____________________________________________ DATE: _________

That sounds like a great idea but I'm a little curious as to how you would formulate the numbers. ARV, Closing costs, rehab cost, taxes, etc... are all very dynamic numbers. They all change with region, season, economical trends and etc.

How would you go about address that?

Would you say wholesaling a short sale is complex? I was considering Marketing to a few Expired Short sales from the MLS in my area and I'd like to hear from those who have done it before.

Would you say wholesaling a short sale is complex? I was considering Marketing to a few Expired Short sales from the MLS in my area and I'd like to hear from those who have done it.