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All Forum Posts by: Jae Payne

Jae Payne has started 4 posts and replied 7 times.

Post: Philadelphia, PA - Best Practices to find Rehab Contractors

Jae PaynePosted
  • Philadelphia , Pa
  • Posts 7
  • Votes 0
@David Vitarelli Try Home Depot. There will be a lot of general contractor trucks in the parking lot. Look for the GCs that are there before 8am. This typically means they are active.

Post: Pulling title on wholesale deal

Jae PaynePosted
  • Philadelphia , Pa
  • Posts 7
  • Votes 0
Question about pulling the title: I found a title company that I like. I did a couple deals with them they charge a $125 non-refundable fee to pull the title which gets rolled into the closing cost. What I have done in the past is have the buyer call and pay the fee when they make their earnest deposit. How can I structure it where I get a non-refundable deposit? My concern is the title not coming back clean. Should I use my money to pull the title before assigning the deal? Any suggestions??

Post: Need help with first owner finance deal

Jae PaynePosted
  • Philadelphia , Pa
  • Posts 7
  • Votes 0

Can someone help me structure this deal? Its a single family home and the owner wants 29k. ARV is 35k - 40k. He is willing to do owner financing. The house is in ok condition small repairs needs paint and new carpet. It's Chester PA. Can I wholesale it, or should I consider something else?

@Jeff Rabinowitz thanks. I would be looking to fix and flip. I have a couple deals where I can get the house for next to nothing but they need a full rehab. 

Hi BP, Do you recommend or know of any private lenders? Do they need proof of income? I have a small business so no W2 to show. 

Post: First Property From My In-laws

Jae PaynePosted
  • Philadelphia , Pa
  • Posts 7
  • Votes 0

The house is in a good rental area. Only a couple people own houses in this neighborhood most people rent.

Post: First Property From My In-laws

Jae PaynePosted
  • Philadelphia , Pa
  • Posts 7
  • Votes 0

My in-laws want to sale their house. They still owe on the mortgage. Other then taking out a mortgage myself how can I get the property? They are willing to work with me I just need a game plan. I want to use it as a rental.