All Forum Posts by: Jim Hiler

Are you trying to build a CMU/masonry privacy wall? If so you will need to install a footer first. That will involve getting a detail from an engineer, pulling a permit etc.

Without seeing it, sounds like you're much better off just putting up a fence. You will likely still need a permit (depending on the building dept. requirements in your area) but should be much simpler. 

A third option could be a stacked retaining wall similar to this photo. For this type of wall typically the only footing required is 6" of #57 stone compacted and leveled. But again you'll need to check with your local building department and may have to consult with an engineer.

https://images.homedepot-static.com/productImages/...

@Justin Schmidt Interested to hear about which owners you're going to target, I.E. out of state, owners who have multiple properties, eviction records, what size properties, etc. and what your success rate is. I'm considering a similar DM campaign.

Thanks @Wayne Brooks. I just called the sellers closing agent. He seems legit and claims he has a fully executed contract with purchase price on it between seller and wholesaler. 

So I may sit on it and issue a contract direct to the closing agent in a day or so.

@Jay Hinricks Thanks. I did try to contact the owner directly by writing him a few letters but did not get a response. 

How can I make a back up offer if I can't get a hold of him?

@Nick C. The purchase price is on the assignment contract but it's not on the contract between the seller and wholesaler which is being assigned to me.  I assume it's because he doesn't want me to see what number he agreed to with the owner but I also believe that without a purchase price the contract he sent me is not valid which makes the assignment void and therefore doesn't give me any right to buy the property.

In my understanding a contract has to clearly state what's being exchanged or traded for what. If it doesn't I believe it's not valid...But I'm not sure how wholesalers normally issue their contracts that's why I posted this.

It would be great to hear from a wholesaler in South Florida.

Thank you everyone 

Thanks John. I know it's legal to assign a valid contract to someone else. Or an option to buy property. But my main concern is that the contract they are assigning is not legal and I'm going to be at risk of losing my deposit. 

I'm not sure how them being licensed plays into it? I guess because they are selling property and collecting a comission or assignment fee. I'm honestly not sure if they're licensed but my bigger concern is whether I'm at risk of losing my deposit.

Dear BP,  

I am trying to buy a property from a wholesaler. He/she sent me a standard Florida FABAR contract which is between the seller and the wholesaler and then an assignment contract which then assigns the  contract over to me. On the assignment contract it states what the purchase price will be and the deposit.

My question is that the original contract between the seller and wholesaler has no purchase price, it only shows the requested deposit amount. Doesn't that make it an illegitimate contract? Is this standard? Should I be concerned with this? 

Wholesalers how do you normally assign your deals?

Any input is appreciated.

I'm looking at very similar deal in a different city. The numbers are nearly identical. My expenses including taxes and insurance are coming in at about 43% but my total tax and insurance is about $20,000 versus your $10,000.

Has anyone else watching the PBC market noticed a spike in listings, price drops and re-listings all of sudden the past few days or is it just me? Any realtors out there know what the current average days on market was last month? Wondering if there are any subtle signs that the market may be cooling off.

What is everyone seeing out there?