All Forum Posts by: Joseph Hernandez

Hello. Do investors manually drive for dollars or do they virtually drive for dollars, e.g. use Google street view? Thanks.

Good observation Josh. As a real estate agent, do you see "investors" paying full (listed) price from properties in the MLS?

Thanks Doug.

What type of changes? Thanks Mike.

Hello. If i'm doing a wholesale deal, how many contracts need to be used? Is there only one (Wholesale real estate contract) or two, a contract between seller and wholesaler and another one between wholesaler and inv estor buyer? Thanks.

how can all of you think this a great deal? Total costs (not just purchase price and rehab) will be higher than ARV

Doug, does your lender accept equity from the subject property as a source of down payment?

I thought the wholesaler must give a copy of the original contract (AB) to the investor buyer (BC)? If so, the buyer will see the assignment price.

Thanks Josh for your input. I'm a newbie wholesaler, although I've flipped 7 houses and i'm a real estate and mortgage broker. I'm looking to do my first wholesale deal. Let me see if I got this correct: let's assume fmv is 400k. ARV is 560k. repairs 100k. So, 560k x .70 = 392k. 392k - 100k = 292k. This is how much you would pay as a flipper? 102k below fmv? If so, you will be making 102k, instant equity. I've been reading a lot of posts here in BP and some fix n flippers are whining if the wholesaler makes more than 10k on a deal. IMO, this isn't fair. The wholesaler is the one that spent $1,000's and a lot of time finding a deal, not the flipper, yet the flipper thinks it's fair to make 10x as much. what's wrong with this scenario? the flipper can turn around and sell it to another flipper and make 50k-100k. I've seen newbie and novice flippers buy fixers in the MLS at fmv all the time. perhaps I should take out a HML, sell it "as is" in the MLS for fmv. I will make roughly 90k after expenses and I won't have to hide my assignment fee from flippers and whatever else red tape there is. what are your thoughts? BTW, I really appreciate your help.

Hi Tom. Is it true that I can only do a blind HUD-1 if it's an all cash buyer?