All Forum Posts by: Giacinto L.

Thank you guys.

Wouldn't I still want to make my wholesale offer though, what would I have to lose? He could reconsider and accept that he's asking too high and take my offer.

Hi BP community, I need some advice on what approach I should take in order to get this property under contract. I recently found a home for sale by owner, it's ARV is around $200,000-$225,000. The seller was renting it out previously and the renters completely destroyed the home. The home needs at LEAST $40,000 in repairs and the seller is asking for $180,000. When I asked him about his pricing, he stated he needs $178,000 to break even and cover his mortgage. He wants out of the home and landlord situation so he is motivated. The home has great potential, but tons of work! How should I go about presenting the offer and getting it under contract?

Thank you

Hello BP Community, I would like your opinion on how I should present a owner finance deal to a potential seller. I want to acquire properties for rentals by using owner financing. What I would do is find potential homes and present the owner with owner financing details in which both parties win. How would you suggest I present the offer to them as a buyer? 

Thanks BP Community

Giacinto

@Tom S. I've tried three bank in the area, all have denied financing based on my income because I am self employed.

Thanks everyone, ID is a sellers market right now, and wholesaling is getting more and more risky, because wholesalers in the area are getting in trouble with state real estate commission. The only way to safely wholesale is getting a re license or work with an agent.

Thanks Wayne!

Hi BP community, I'm located in Idaho and find many potential deals, for example 20+ vacant homes, seller financed homes, distressed properties all over, short sales, I just don't have the ensured financing to back it up. Idaho is cracking down on wholesalers in the area so I'm seeking solid financing to purchase homes at and turning them into rentals or buy and hold. Anyone have any tips or know of anyone looking to partner up that has financing?

Thank you, 

Giacinto

Thanks Scott I appreciate it, what did you mean when you said no real value to a note buyer? If I were to contact the sellers and negotiate the price down to where the note buyer would profit, wouldn't that bring value?

My question about this process is how do you go about getting a property under contract or in writing without having to pay the down payment asked by the seller. I have a buyer who buys "contracts/notes secured by real property that was sold using Seller financing also known as an "Owner-Carry" loan." Does any have any tips or opinions about how I should proceed with getting Seller Financed homes in writing and selling the contract to my end buyer. This is very similar to wholesaling. 

Thank you,

Giacinto