All Forum Posts by: Mel Saffold

Hey guys, I have a preapproval from the bank for purchase and rehab a property for up to 170k. There is a non MLS listed property that a owner I know is willing to sell. I'm relatively new to real estate and I wanted to know if this type of transaction is simple as getting a purchase sale contract going with the seller and forwarding it over to the attorney and lender? What type of due diligence should I be doing? Do's? Don't? How to properly go about this? Thanks a lot! - Mel

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Hey guys, I've got deal this deal in play. Seller has 4duplexes for sale and wants 80k a piece. 320k total. He currently gets 875$ per month for all 8units. Houses are in very condition. I'm very confident I can get this package under contract for 260k. I would need a end buyer and I wanted to team up with another wholesaler and hopefully sell for 285k. The numbers work. Question is.... How much information should I be giving the next wholesaler? I wouldn't want someone to snake my deal. And should I go ahead and make the purchase agreement with the seller to avoid this? I do have a clause stating that I can back out of the deal if I'm not able to assign the contract, but I kinda think that ruins your reputation and I really just want to exhaust all my resources and get the deal done. Any thoughts?

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Hey guy, I'm looking to see how everyone feels about investing in the hot vacation rental locations. I found a nice prospect in myrtle beach SC. Property costs $150,000. I see similar properties being rented at 1200-1500$ per Week. Property management in place. Hoa fees 300$ / month. Can anyone give me some insight into this kind of investing. Do/don'ts?

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All Forum Posts by: Mel Saffold

Mel Saffold has started 5 posts and replied 5 times.

Post: Wholesaling - land trust or Lllc

Post: Buying house directly from home owner

Post: Wholsalers. Teaming up.

Post: Vacation rentals

Post: Investing in vacation rental properties