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All Forum Posts by: Frederick Lyons Jr

Frederick Lyons Jr has started 7 posts and replied 22 times.

Post: Question dealing with earnest money..

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

As a wholesaler how do you find the costs of how much the earnest money deposit? Is it a fixed rate or is it a percentage of the purchase price?

Post: 2) Get the contract

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

So if you have already gotten the motivated seller to sign the purchase agreement and thats all wrapped up after you 3)Submit the contract to title, i understand. But question : If when the title search comes back and their is a lien on the property,what happens next? How does this scenario most oftenly play out? What are the typical costs for using the title company services?

Post: Wholesaling the first deal

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

When getting a property under contract how did you first go about it? Were you hesitant? How did you fight the emotions of potentially making a mistake?

Post: Can someone answer this for me

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

Thank you John 

Post: Can someone answer this quick question ?

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5
Originally posted by @Mat O'Grady:

Any lender fees from getting a loan, monthly taxes, monthly insurance, utilities and maintenance fees.

 Thank you Mat, that’s very helpful.

Post: Can someone answer this quick question ?

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

Thank you Joe, it was clear as mud!

Post: Can someone answer this for me

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5
Originally posted by @Will Barnard:
Escrow companies or closing attorney's can also provide tis info in the form of a GFE (good faith estimate) which shows all your likely closing costs.

Thank you Will 

Post: Can someone answer this for me

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5
Originally posted by @Joe DeVico:

closing costs are typically 3-6% of purchase price.

Thanks for that info! 

Post: Can someone answer this for me

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

Thanks Joe that was really helpful 

Post: Can someone answer this quick question ?

Frederick Lyons JrPosted
  • New to Real Estate
  • Baton Rouge, La
  • Posts 24
  • Votes 5

What are monthly holding costs and why do they occur?