All Forum Posts by: Gregory Wesley

I have someone who is looking for a motel in the Houston, TX area. The price range is 1M to 2M. I mainly deal with residential but have been looking to get into commercial and then this came to me. How should I proceed? I looked on loopnet but I'm convinced there's a better way.

I spoke with a TAR attorney and she said as long as I disclose to the seller that the buyer will be paying me a fee that I'm fine as long as the buyer pays me on the HUD. Also, there must be a written agreement between myself and the buyer. I doubt the bank will go for it being on the HUD.....

Any ideas on marketing??? I got bandit signs and drive around looking for vacants. Where do I find the NOD and loan mod lists??

I would list the and then my buyer/investor would pay me a fee for bringing the deal to him. I will call TREC

I have done several Short Sales for friends, family and referrals and now I'm wanting to market and bring in short sale leads. I have read many posts here as well as blogs found on the web about short sales. I was thinking I could list the properties and receive my commission as well as a wholesale fee without doing the "double close" thing. I would simply be paid my commission by the bank/seller and then receive a wholesale fee from the investor. However, it seems as though even with full disclosure, I may be risking trouble by getting the fee from the investor. So, what do you guys think??? Should I give up the wholesale fee dream and what are some good marketing efforts? I know about bandit signs and looking for vacant homes.

Thanks @Karen Margrave.....I will do just that.

Thanks to everyone for all of this good information. I'm planning a trip to gain more knowledge. I will follow up with more info and hopefully a deal to analyze.

I like what you say but how do I find local developers? Just drive down there and see who's doing the development?? Like I said before there's not much development going on there but I'm planning a trip to check it out.

I like the idea of leasing the land. Looks like I should spend some time researching what kind of trees are on the land, who owns most of the land around there.

Yeah I don't think a subdivision would be what the doctor ordered because I dom't think there's any demand for it. When I said it was residential, I meant that's what the few buildings around there are used for. There isn't any growth around. It seems renting the land to a nursery is a good idea. What about lease to like Walgreens or CVS for warhouse purposes....

The land is about 90 miles east of Dallas in a small town named Hawkins. Population is like 1300. I don't know a lot about the railroad as far as if it's decommisioned or not. I haven't spent much time there since I was a kid(over 20 years ago). The college has about 600 students. There's really not anything going on in this town. I'm really like a warehouse, lease to nursery, whitetails, etc. I'm not looking to pour a lot of money and resources into this type of land.