All Forum Posts by: Haider Zaman

Holy smokes! @Wendy Patton responded to my thread!  Awesome!  Haha.  @Ken V., I'm extremely familiar with WP, just looking for a lease option contract I can use with sellers and tenants here in Virginia.

Hello BP family,

I am a new investor working on my first LO deal here in VA. I have an interested seller which i'd like to put under contract. Can anyone here give me a good lease option contract that I can use in Virginia?

I checked the files section here on BP but nothing specific to Virginia.  I would greatly appreciate any help you all can provide.

Thanks!!

Hey Kyandrea, yes VA is wholesale friendly (at least based on my experience). Let me know if I can be of any assistance. I'm a licensed Realtor and have been looking into Wholesaling for quite some time as well. Haider

Welcome to BP Sheila! I personally used Moseley for my VA real estate course. There are other online course options as well as in person classes as well. Just google them and you ll find tons of options. It all depends on what your study preference is. Thanks, Haider

Hello BP family! I've been doing a lot of reading on assigning lease options and am really excited to getting started. I am also a licensed Realtor. I would love to know if I am allowed to assign lease options in VA. I've read conflicting posts, some saying you can assign, some saying you have to become a trustee.

I would appreciate some guidance from people in VA who have successfully assigned a lease.

Thank you,

Haider

Thanks for calling the calvary @Michael. lol. @Rick, as for your questions. Yes, I do have an idea of what would be a good deal (60-65% ARV - (expenses + assignment fee) = Offer.

With regards to a marketable title, i must admit. You got me! I don't know.. however, I would appreciate any advice you can provide.

Thank you,

Haider

Calling all probates experts! A newbie is in dire need of guidance!

I recently acquired a list of few probate leads and now the question is how do I approach them?

My first question would be.. Should I reach the heirs or the executor/administrator?

Secondly, should I start off with a yellow letter campaign or be bold enough (*gulp*) to actually call?

Lastly, do i acknowledge the passing of their relative or not mention it?

Any advice or guidance you all can provide would be REALLY helpful!

Thank you for reading my post and your time.

Haider

Hey BP Family,

I am looking to expand my wholesaling approach to include probates.  I am heading to the local courthouse and will sift through the probate files.

Once I send yellow letters to these probate leads, can you tell me what kind of a "talkoff" should I use?  What should I say?  Any advice or technique that has well for the rest of you?

Any help you can provide would be much appreciated!

Thank you,

Haider

Hello BP Family!

All your advice and guidance is finally beginning to pay off! I have a lead who I am meeting tomorrow and hopefully making an offer!

I do have a quick question. During our initial conversation, he did mentioned he owed some back taxes (a few thousand). If I decide to make an offer, i am thinking about telling him that I'll pay his back taxes and give him a thousand or so in cash at closing.

However, I am uncertain as to how that process works. Would I have to pay off his back taxes before closing or can this be done at closing (using a double close process)?

If you can provide me with a little guidance on how I can take care of his back taxes (without spending my own money), I would greatly appreciate it!

Thank you again,

Haider

@Mark and @Nathan, those are exactly the kind of insights I was looking for.  Thank you for your guidance.  I'm a newbie and watched a few videos on YouTUBE where the gurus recommended starting off around 11%-21% and then incrementally building up.  

It hasn't been working and I needed to know why.  

Thank you again.

Haider