All Forum Posts by: Manuel Perez

hello @Account Closed, I have recently received my license to be a broker associate,  but have also entered into a partnership to help fund the marketing and properties that we receive off market. My question to you is how did you get away from having to use the standardized Real Estate contracts from the states that you are licnesed in? I recently sought counsel to see if I could use a "skinny contract" and was informed for my safety that I do not enter these type of transactions. I understand that they say this, but I agree with you on "skinny contracts" and how friendly they are and just wanted to see how you were able to get away from the standardized contracts? Just to also add to this question, I plan to invest in Colorado, but the other markets I Plan to invest in I am not licensed, so can I have skinny contracts for those markets? Thanks for your help.

Hello @William Allen, do you have any more photos and just so I'm clear there are 2 properties listed for this wholesale contract? That being the house and then the trailer? Also what is the estimated repair costs for the house and then for the trailer? Also what will the ARV be for this property and the comps to support the ARV? If there are not many sold comps then what do the rental comps in the neighborhood show you about this property? Thanks for answering my questions in advance and have a great evening.

Hello @William Allen, do you have any more photos and just so I'm clear there are 2 properties listed for this wholesale contract? That being the house and then the trailer? Also what is the estimated repair costs for the house and then for the trailer? Also what will the ARV be for this property and the comps to support the ARV in the event that I would like to fix/flip? Thanks for answering my questions in advance and have a great evening.

Charles Parrish I want to thank you for the information. I will be doing some research on these notes as a way to finance or cash out. I have a rental property that has about 80-90k in equity now. My question to you, what is the best way to use these notes and is it smart to obtain multiple notes on 1 property to acquire multiple properties? If you don't mind me calling you, I would like to set up a phone appt with you to run some ideas, answer questions and possibly mentor me in the process. Again thanks for the help.

Hello Charles Parrish , I was very intrigued of some of your creative finance strategies. Exactly how do you create a note on your own equity/others equity and what is the procedure? This strategy to me is absolutely brilliant.

wow @Mindy Jensen that does sound awesome. I'm going to try and make it tonight. Thank you for the invite

@Drew Fein, I will go ahead and send you a pm and we can possibly meet when you have availability. Thanks for your help

hello @Mindy Jensen and thank you for the information. Is the meetup in Erie open to whomever or is there a fee involved?  I would love to make it either way.

When you do a double closing, what they will do is bring the seller in first (A) and end-buyer in 2nd (c). They will sign all documents at that time. Once the contracts are completed, and they see the end buyers funds (c) in escrow, you will come in 3rd (b) and sign off both of the contracts. The title company will go ahead and record them in order as if it went (A) to (B) and (B) to (C). The transfer of property will most likely happen at end of business day or the following day. Hope this helps. Definitely speak to your title company and check out the process, but knowing somebody that has used transactional funding, that's what had taken place.

Hello Tim Milosich , if you would like to ever get together and bounce ideas or contact one another, I'm very open to this. I feel I'm in the same boat as you, as we have rental properties and we're trying to broaden our outlook on RE investing. I will pm you my contact info.