All Forum Posts by: Jacob Robinson

@Andrew Postell 

You may have misunderstood me. 

Once i have the property deeded over to me, i will get $8,500-$10,000 down from the tenant buyer

Hi guys, need help closing a sub 2 deal. 

Owner is going through divorce, and can no longer make payments. She's up to date on everything but cant make another one. She's willing to walk away with nothing at all. Her ex & her bought this house 8 months ago, and he divorced her & is remarried already. Both of their names are on the deed, so ive gotten both of their signatures & disclosed what I'm doing to both.

Paid $89,900 - 8 months ago

Market Value shows it's appreciated upwards to $96,500

$87,550 mortgage balance owed 

$682 Monthly PITI

Rental rate is $950-$1000

Easily can get $8,500 down 

Anyways, ive seen a picture of her mortgage statement and have it. I have POA document, Seller Acknowledgment Form, General Warranty Deed, P&S Agreement w/ Sub to information.

She's agreed to let me market the property for a tenant buyer. 

How would i go about closing this? I plan on having it deeded into a land trust. But what else do i need to do? What should i expect? What about title insurance? I need every little detail about closing if possible.  I have a title company & attorney who i can close with. 

hey guys,  I have a question. I ran across a way of virtual wholesaling online using these auction sites like auction.com, xome.com, hubzu.com. (the auction flipper) sure you guys have seen it advertised before. Does anybody have experience using this way or a similar way of virtual wholesaling? I'm sure this topic has been talked about somewhere,  but I can't seem to find anything on it. I already do local wholesaling,  but am looking into virtual wholesaling.

If so, could you explain some pro's & cons. As well, as talk about in full detail the experience you had & what you did. And finally, would you recommend it?