All Forum Posts by: Keithq Rueter

Thanks Brandon!

I have a motivated seller with small equity in home. Considering an offer for subject to existing mortgage with reasonable interest rate. I am unsure of a few details listed below, and clarification would be appreciated...

1. If seller agrees to this contract how does it affect their ability to qualify for an additional mortgage since they will have one outstanding, being paid by the investor?

2. Do I require seller to sign a General Warranty Deed?

3. How am I able to convey property to another buyer either immediately, or at a later date?

4. How do I become a party on the existing insurance policy?

Any other important items would be greatly appreciated. Intentions are to rehab and flip in a short period but will offer the seller specified funds at the time I sell, just not sure how to proceed.

Thanks!

Just preparing for any possible way to complete deals that make both parties happy. Some may request money upfront (maybe) and others after I sell the property down the road. Depends on their situation and how much equity they have to lose. Thanks for the download link Michael.

Hello All,

I am in the DFW metroplex and looking for information about how to complete a "subject to" taking over existing mortgage contract. Also a download contract that can be used for this situation. Thanks in advance

This will be an assignment of interest to buyer.

Question. How to compensate, or is there a need to compensate, a Realtor if the owner has property listed, but myself as a wholesaler finds a buyer. Assuming that the seller doesn't have an exclusive listing with the Realtor.

Hello All,

Anyone using the INVESTWAY in DFW area, and is it worth the monthly subscription? Thanks

I wish you were in the DFW area. Sounds like we could work together! Yes, we used Xactimate, but the recurring cost is not what I am looking for just to make certain that contractors are giving me reliable estimates of work. Just don't want buyer to feel duped when costs exceed my verbal analysis. Thanks!

Thanks Terry and Paul. I was a Property Adjuster with Farmers back in the day so I have a decent understanding about repairs but code changes and hidden damage was always a problem that I noticed among some GC's. I have retained a list but it is several years old. Thanks!

Hello Everyone, this is my first post and I am very impressed with the knowledge and expertise of the BP members. I am a newbie in the DFW marketplace and need to secure a competent and trustworthy contractor that can assist in determining "solid" cost for repairs both for property that will be "flipped" and for those that will be retained for an extended amount of time. I know that good GC's are usually tied up on jobs and have several waiting after completion of their current rehab and as everyone knows, time is of the essence. I have access to lists of contractors but would appreciate your feedback to help me narrow down the list a bit. Also, do most contractors require 50% on start, and remainder upon completion? Thanks in advance...