All Forum Posts by: Quincy Williams
Quincy Williams has started 2 posts and replied 4 times.
Thanks for the reply Steve,
Yes you are right I was thinking about the short sale where it is illegal for the owner to profit fro the transaction.
I should have made my question more clear. Does the owner get a seperate check at closing on a cash deal or does the profits come at the closing table from the all cash transaction.
Like, do you pay the owner a seperate check? Or does the owner get the money after close on the agreed upon set price?
On a subject 2 deal, how does an owner get money for handing over the deed to the buyer (you) if it is illegal for an owner to profit on an subject to deal? How does the owner get money for the equity on a subject 2 deal?
Second, how does an owner profit on a cash deal. With a check from a agreed upon price or at closing when you pay them more for what they originally bought the home for?
The last thing I want to know is it more profitable to do a subject 2 deal then a cash deal? I mean, instead of aggreeing to pay cash for the home it would be more attractive of a deal if you just took over the extisting loan and pay the owner for some of his equity?
Post: Very excited about possibilities, I have two questions
- Austin, TX
- Posts 4
- Votes 1
Mr. Will Benard,
I would love to be one of those guys that have a true life story of their first deal being completed here on BP.
The motivation, desire, passion is all there. But the one thing thats holding me back is that I don't know how to find preforeclosure leads.
COuld you explain a little bit on that?
Post: Very excited about possibilities, I have two questions
- Austin, TX
- Posts 4
- Votes 1
The idea is to get a house at a discount of 30-50%. But how am I going to get the house at such cheap of a price when theres hardly any equity in these pre foreclosures?
ANother way I could do it is agree with take over of loan, agree to give them10-12 thousand dollars, assign the contract have the invester pay them without anything coming out of my pocket while making a hefty chunk of change say 5-10 thousand dollars? That strategy works, does it?
MY questions are how do I go about getting a house for 30-50% off, and could I just agree to take over existing loan while promising them (I hate to say that) some cash and assign contrack over to invester? Any other strategies would help.