All Forum Posts by: Hattie Dizmond

@Sunil Kurji

In DFW it isn't really about the proliferation of renters vs. buyers, it's about what areas will cash flow.  I grew up in GP.  North GP - typically - cash flows better than South GP.

I'm not sure what your underlying question is, but the reality is that, unless you are looking to put a lot more than 20% down, deals that will cash flow are almost impossible to find on the MLS right now. There is no inventory to start with, then add to that the fact that we continue to be in an inverted rent:value situation, and you have the perfect storm for difficult cash flow.

However, my suggestion to you would be to find areas with the lowest property taxes.  Once you have identified those areas (Hint:  Rowlett is one.), figure out which ones have the better ISD's of that list.  Those should be your primary target areas, unless you are OK with going into C/C- neighborhoods, at which point I'm going to recommend East Mesquite, Pleasant Grove, Hutchins, and areas in South East Dallas.

A pre-qualify will result in a soft pull. A pre-approval will be a hard pull. However, the credit reporting agencies are set up to report all pull by mortgage companies that occur within 7 days of one another as a single inquiry, since they assume you are simply rate shopping. 

I don't even care about a picture, if the property is listed, then I'm assuming there are pics up on the listing. However, as others have stated, we need the address to even begin to assess the issue.

I like you too, Ben!!   (The rest of you please excuse us. Ben and I are going to form a mutual admiration society!)

Read the Ultimate Beginner's Guide to REI, which is free and found under the Learn tab at the top of this page. Also read the Guide to Wholesaling. There are tons of podcasts about wholesaling. Get educated, before you worry about contracts.

Google is a wonderful thing...these are all previous posts on BP answering the same question. 

https://www.google.com/search?q=wholesale+contracts&oq=wholesale+contracts&aqs=chrome..69i57j69i59j0l2.1332j0j4&client=ms-android-att-us&sourceid=chrome-mobile&espv=1&ie=UTF-8#q=wholesale+contracts+site:www.biggerpockets.com

@Joshua Dorkin

I'll accept a colleague request and respond to PM's from almost anyone who is not spamming and will take the time to actually write a not with the request.  However, that doesn't mean I want them popping up in front of my face!  :-)

@Rick H.

We're still working on it.  The rightful seller just wants to be rid of the problem more than she needs the money.  We're going to offer to take care of the problem in return for max 12-months of seller financing with no money down.  Our 2ndary offer is, as you suggested, a purchase contract with a contingency on the moocher being removed AND the rehab estimates being no greater than our worse case projections, since we can't get inside it.

Agreed...it was a solid idea.  But, it was a pain.  I think, if I could have chosen who to allow to chat with me, it would have been good.  However, what it turned into was a bunch of popups on my screen from people I don't really know asking ridiculous questions, because they didn't want to use the search feature.

Now...about that Android app???????????

Just a quick tip for all you Networking Beasts out there...

There are many people (Yes, that includes me!) who do 90% of everything from some sort of cellular enabled mobile device or smart phone.  So, when you include your phone number in an email, always use a standard format...

• (555) 555-1234
• 555-555-1234

Don't use '.' (dots) to separate the area code from the prefix and number.  Don't use slashes or underscores.  And, don't use spaces.  (Some devices and OS are better at recognizing alternate formats than others.)

By using one of the standard formats you can be sure 99% of devices will recognize that as a phone number and allow the recipient to dial directly from the email by simply tapping on the phone number.  It will greatly increase the likelihood of getting a response, particularly a timely response.

 Happy networking!