All Forum Posts by: John D.

@Spencer Ellingson

+1 on the RE attorney.  Many times they will already have a relationship with title company(s) and if you do not use a buyers agent, thats additional money that the seller does not have to pay out which should mean you may be able to get better savings.  (Seller would normally have to pay buyers agent 3%)

@Jonathan Minerick

Everything you said makes sense.  I would just think that would be an uncomfortable conversation between buyers agent and buyer if they called agent and said..."Hey, I got an alert on my dream home at 123 main st...can we go see it?"  Agent replies "I'm sorry, there's just not enough commission for me so I wont show it." (assuming its not a market rate commission)

@Jonathan Minerick, @William Allen

Please correct me if I'm wrong but even if one were to have a listing on the MLS using a flat fee agent, wouldn't potential buyers still get email alerts automatically if the property matches criteria? (example: 3 BR/2BA, 4BR/2BA) Once the buyer gets the email alert, they would contact the agent and tell them they want to see the property. Even if the agent does not like the way the commission may be structured, wouldn't they still be obligated to show it to their buyer customer?

If I am the buyer and my agent does not show me any property that may meet my needs, I would be pretty disappointed to say the least.

Thanks!

Good afternoon all.

I am looking for suggestions on lenders that would refi a home that we were originally looking to flip but are now considering renting or possibly doing a lease purchase agreement. 

Thank you!!

Good Evening.

I have a scenario where I have an off market seller for a SFH located in NJ with a purchase price of $32K. I recently finished up a flip project less than a mile away from this property and the seller is interested in purchasing this home and they have already been preapproved for a conventional mortgage. There are no agents involved. We have an attorney representing us for closings, etc.

I am looking for ideas from the BP community on how to structure this type of deal.

Any info is appreciated!!

Hi Gabriel,

Welcome to BP!

Take a look here.  I think all your questions get answered.

https://www.biggerpockets.com/forums/311/topics/486125-brrrr-strategy-explained-and-cash-out-refinancing

Good afternoon.

I have a scenario where I have an off market seller for a SFH located in NJ with a purchase price of $32K. I recently finished up a flip project less than a mile away from this property and the seller is interested in purchasing this home and they have already been preapproved for a conventional mortgage. There are no agents involved. We have an attorney representing us for closings, etc.

I am looking for ideas from the BP community on how to structure this type of deal. 

Any info is appreciated!!

Done!!

Welcome to BP @Jeannette Birnbach

To start, I wouldn't even consider anything more than 45 minutes from home because I want to see the processes to feel comfortable.  At the very least, I would want someone I know as the "boots on the ground" person that can give me periodic updates and make sure things get done timely.

Many folks run their business cross country and are very successful and I give them a lot of credit.  Each to their own!

Good luck to you!!

Thank you @Mark Gallagher and @Chris Mason