All Forum Posts by: Matthew Berry

@Henry Urey Rivas

Hey, Henry. I can send you the one page contract that I use. DM me.

@Ryan Moye

Yea thats a great deal. But just make sure he is aware that he's gonna have to come up with 55k some way or another for the deal to close.

@Ryan Moye

Typically nobody sells their house under the amount they owe on it. Thats extremely rare. Unless someone really needed to sell their house, if it meant for them to pay out of their pocket to sell it.

@Ryan Moye

If the price to sell the house was 50k, then that's what the buyer pays. Anything remaining falls on the seller.

@Ryan Moye

If he wanted to sell it for 50k and he owes 105k. At closing, he would have to come up with the difference of that, which is 55k, out of his pocket.

There's not enough equity in the house for it to be a wholesale deal. He owes 105k and the ARV is 120-130k. A fix n flip buyer wouldn't make any money after doing the repairs on the house. When a buyer buys a house, they are paying off all encumbrances and liens, which includes mortgages.

@Cauvery Bammel

Where the cash buyers are buying. Don't target any other areas or else it will be extremely hard to wholesale deals.

@Arianna Hernandez

You don't need a license. I did my first wholesale deal and am not licensed. People do tons of deals in Texas without a license.

@Julius Lenon Jr

Make sure whoever your buyer is, is content with keeping the tenants in place. Make sure that is written in the contract with the original seller.

Alamo Title, Patriot Title, Stewart Title. They have branches throughout the metroplex.