All Forum Posts by: Jose Falconett

@Aaron Pfeffer you traditionally wouldn't want to hold it as a wholesaler because that is not their desire. A wholesaler doesn't want to rehab or rent it themselves, and the distressed seller typically needs the money now than later since a finance closing takes a long time as you know.

@Jarvis 

@Jarvis Smith what closing paperwork does it show on? 

In what contract situation will the private seller and investor-end buyer know what a wholesalers profit will be during the closing period of a deal?

I ask because I would not want to piss of a financially distressed seller or an end buyer when they find out during closing that I am making any significant amount of money by wholesale brokering a deal...even though it is a crucial role in the deal. 

Certainly a double closing will not disclose profit, just create 2 closing costs, but will an assignment of contract show the old seller and new buyer on any documents: like a final statement. I need to know how to roll the dice and make the transaction smooth as a baby bottom. thanks

I am about to buy this book by J. Scott but I was wondering if anybody has this book I can buy from?

@Matt Powell PM me with you contact info: email & phone and we can talk about the central florida opportunity! I PM'd you and left my contact info. 

@Account Closed heck yea, thanks a lot. I would in my opinion based off your advice not go to town on shopping after the contract period IF a lender would pull reports, solely because a deal could fall apart if the score dropped too much. But it's good to know lenders like yourself don't always need to pull. 

@Account Closed will lenders after the initial pull be ok with quoting prices based off the initial lenders pre-approval without officially pulling the score for themselves? What do I bring them so they can do it without a pull every time i walk in?

Also, is there something the lender provides the client that allows them to pull, like an "authorization to inquire" or something?

A lot of forums and even a local agent I spoke to said that i should find out what I can finance before I utilize the agents service of scouting a deal. This makes sense, so upon questioning whether or not the mortgage brokers inquiry into my credit report affects my credit score I found out it does, and it's called a hard inquiry which lasts 2 years and each time its pulled by shopping different brokers it decreases a few points which can impact the score a lot. 

but wait, I did learn that dependent on the fico scoring model that the particular broker uses they may use either the old 14 day or new 45 day inquiry model; this lets the person shopping have the 14 or 45 day shopping grace period so that at the end of the period it all counts as 1 single hard inquiry pull.

Now my question is, how can I determine what my financing options are without it impacting my score to much!?

From the sounds of it, it seems like an "option to buy" is the same thing as "earnest money"

If someone disagrees can you elaborate?

No, he isn't good. Like most people say most of the information if not all will be found online free. More importantly you don't know the quality of the education. In addition, they typically preach 1 perspective niche and not cover the multiple ways to make money.