All Forum Posts by: Dustin Verley

@Jorge P. That is awesome man! Congratulations on the acquisition. Definitely keep us posted with how everything goes.

@David Park This should be interesting, I definitely will follow this and see how everything goes. Good luck. :)

With the upcoming increase in the transfer tax in the State of Delaware, I'm looking to hear how this could influence investors current investing strategy. Granted when you think about it, this is only $1 more per $100, but if you sell a home for $200k, this is an extra $2k in fees. Would like to hear some feedback from current investors on this impending change on August 1st.

Very interesting thread. Definitely appreciated the knowledge that was shared here, especially when it comes to the ability to assign the position in a lease option to either buyer or seller in a sandwich lease. I was always under the impression that in a sandwich lease option, you LO with the buyer for a consideration amount and a monthly payment. Then turn around and LO to a tenant buyer for a consideration amount and a monthly payment a little higher and collect the difference.

I'm wondering on a side note though. Has anyone ever LO with a seller, fixed up the property, and then lease option with a tenant buyer for the amount of the increased value? For instance, you purchase a LO with a consideration of $5k and $800 a month for 4 years with a LO purchase price of $125k. You fix up the property and force the value to $175k. You then LO to a tenant buyer for $8k and $1200 a month for 4 years. At the end of the four years, assuming the tenant buyer acts on the property, you're netting $77,200

May sound a bit in theory, but was wondering if anyone has ever performed this type of maneuver?

In regards to James post, and hopefully this is permissible, below is a link to a copy of Delaware's Agreement of Sale for Residential Property... https://www.wardtaylor.com/documents/AGREEMENT_OF_SALE_for_DELAWARE_RESIDENTIAL_PROPERTY.pdf

@Steve Davis Welcome to BP first and foremost.

The best networking you could possibly do, in my personal opinion, is to start with is the Baltimore REIA and Mid-Atlantic REIA in Owings Mills. Of course, in the bigger scope of things, I'm sure there are many more gatherings in, or around, the Baltimore region but those are the two that came up when I did a quick Google search just now. Hopefully one of those help you out.

And of course, don't forget to utilize BP to it's fullest potential as it can be a very insightful guide when it comes to developing a strengthened network of investors and peers in your area.

Good luck in your venture. Keep us posted...

I personally believe it's in the best interest that when drawing up a contract for wholesaling, it's always best to have an attorney review them to ensure that everything is in order. As previously mentioned, typically, notarization isn't necessary for getting a property under contract.

@Ryan Phillips

Great point! I've always been curious about this myself as to why wholesalers don't just partner with an investor rather than collect a "wholesale fee." The only thing I see to be a challenge, as Shaun eluded to, is finding the right investor to partner with and to ensure you don't get cut out of the deal.

Realistically, partnering just makes more sense if it is legitimately feasible to do so.

Do you (a) Find a property for, let's say, $50k with an ARV of $150k and flip to an investor for a $5k fee, OR, (b) Find a property for $50k, flip with a partnership agreement to a rehabber with the intention of being able to sell at $150k, and making a 10% fee after rehab costs, holding costs, closing costs, etc. For example purposes, let's say all of that comes out to $25k, that nets the investor $75k... paying you 10% would net you $7.5k.

Obviously, there are more intricacies to the two methods above than what I've given as an example, and I'm sure it isn't as cut-and-dry, but the point is what you've mentioned, and that is why not do a wholesale partnership?

Very insightful @Account Closed - definitely some great points were made. I also believe success comes down to maintaining an open-mind as well as surrounding yourself with those who are where you want to be. Want to be broke, hang with broke people. Want to make $100k a month, surround yourself with like-minded individuals.

Kudos to you for sharing this.

Very interesting read, glad to see your maintaining your motivation and continuity in pushing forward. Hope the deal works out as it sounds like there may be some light at the end of the tunnel towards the end of the thread.