All Forum Posts by: Jose Falconett

proper truthfull knowledge should always be shared no matter the timing. I wish i would've thought that way back when i was a teen because I would have gotten a head start. I do think that your kid should be able to evaluate the world around them so that they can comprehend the powerful words behind the book though or at least try it anyways. 

As far as your worry about school goes, I think its important to nail it home  that unless they intend to open up business themselves at age 12 or however old they are, or at least are able to begin working (16yrs) that its important to keep going. If I knew what i knew now, I wouldve dropped out, got my GED and wouldve saved time to begin real success.

Once a wholesale purchase contract is signed by wholesaler and seller...what is the "timing" of the closing process look like. (assignment situation)

1. submit contract to title company first or wait until finding a cash buyer?
2. How long does title search take?
3. How long after title search complete do I have to assign to a cash buyer?
4. If title search complete do I have to assign or close asap right afterwards?
5. Between inspection, signing/mailing docs, closing how long should this take (I've seen ads where investors say they can close in 7-8 days?

 I found the perfect title company that works with investors and they do everything that you could possibly need.

Dry double closings, assignments, seller side huds etc. 

@Danny Lee If someone like you doesn't find control over a deal necessary, i can't imagine how many deals have fell through your hands

@Steve Babiak ah ok, i agree. However, I didn't see you include the wholesalers profit in the equation 

MAO = (0.7 x ARV) - (repairs plus other expenses). 

Definitely between 70% arv accounts for the flippers profit though

@Steve Babiak @Hattie Dizmond In your equations you guys did not account for the existing loan mortgage on the property. If he is wholesaling, the cash investor would have to also pay off the existing mortgage $294k, $70k taxes, repairs $20k, closing costs, and assignment fees

@Shaun Pruett Do you know how to handle divorce proceedings, seems like a lot of barriers to that? 

Hey guys, I am a bit nervous to begin marketing for this main reason.

For wholesaling purposes I am unsure of how to mitigate a distressed motivated seller's varied issues that may arise out of leads, and I don't want to throw them away if they are in fact good leads.

From the top of my head issues they may have could be divorce, liens, second mortgages, back taxes, other entities claim of interest in the property, and a sellers unknown amount of equity/loan/interest/taxes owed on the property. I need to have an understanding as to how to handle these situations before I sound like I don't know how to talk to these people.

any advice?

Hey guys, I am a bit nervous to begin marketing for this main reason. 

For wholesaling purposes I am unsure of how to mitigate a distressed motivated seller's varied issues that may arise out of leads, and I don't want to throw them away if they are in fact good leads. 

From the top of my head issues they may have could be divorce, liens, second mortgages, back taxes, other entities claim of interest in the property, and a sellers unknown amount of equity/loan/interest/taxes owed on the property. I need to have an understanding as to how to handle these situations before I sound like I don't know how to talk to these people.

any advice?

bumping

Hey guys so I understand that these are essentially the same exact contract. The only  difference between them is the addendum surrounding sale price "subject to" dadada. 

My question is being that a wholesaler does not know whether the end investor buyer will be a rental investor versus an all cash flip investor, how do you determine whether or not to conduct a subject 2 versus an all cash deal (via contract) to seller?

*My understanding is that typically rental investors will want to take over favorable existing financing while a flipper will most likely pay all cash. Also what numbers would make an appealing subject 2 existing financing deal look good ( amount of equity, etc.)

How do I determine which avenue to take contract wise?