All Forum Posts by: Jarell Gillies

Thanks Finance Examiner. I new I was on the right track. Ill keep progressing. Thanks

Hello. Everybody. I have built a list of buyers that are hot! I am a wholesaler. My intent is not to purchase the property, but to assign it to my end buyer. I dont have my own proof of funds or LOI. or earnest money deposit to tie the property up to market it to my end buyer. I do have, however an option agreement. Am I missing a piece to this puzzle? Lets say that I want to campaign a property to my buyers list. Can some one tell me what is going to be my strategy so the end buyer doesn't go around me. Are most investors that have the property under contract direct with the seller willing to use an option agreement from another wholesaler? How does the non-refundable earnest money apply to me directly? Maybe I have the answer's. Just need to be sure.

Thanks

Hello. Welcome to Bigger Pockets. I come across wholesale properties out that way. Most are below 50% ARV that's with out the cost to hold. When I do my due diligence on the property I figure it in and I figure it to be a deal if the TOTAL holding cost is at or below 70% ARV

Good Luck

Jarell
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Hi Finance Examiner. Yes its based off the arv. After Repaired value. I cross reference real quest, and Local mls sales. I also figure the cost to hold for 6 months so my end buyer doesn't have difficulties doing his due diligence.

Thanks

Jarell

Your absolutely correct. I come across all kinds of properties in Florida.[solicitation removed].

Thanks

Hello. To figure verify S.S. income you need to ask for the borrowers award letter that she gets at the beginning of the year for indicating how much the benifit is for the year. If she gets direct depost she can provide you with two months bank statements showing the deposits going in... to the bank account. She should also have 1099's for the past two years is whats she goingto need to verify her s.s. income. Hope that helps.