All Forum Posts by: Ryan Billingsley

@David Battle  Double Closes are not illegal.  The title companies actually get twice the fees for doing them so it is to their benefit to allow them.  I used Old Republic Title to do a double close two weeks ago and they prefer it.

I would sell it to the tenant.  Make a quick profit, the tenant gets the house he loves, and the world is right again!

Congratulations!  Reinvest it into marketing!!!!

I am interested in the details as well!  Thanks in advance!

It all starts with the ARV. That stands for the after repair value of a property. I would find out what the house is worth by seeing what has sold recently in the immediate area with in the past 6 months. You can also see what is currently for sale close by. This is known as running the comps. That will tell you what the property will sell for. Then I would recommend to take 30-35% off that for profit. The next step would be to find out what the repairs will cost and subtract that. If you plan on wholesaling the property you should also factor in a profit for that. This will leave you with a good offer price. Usually the offers will be low. But that is why you have to build value to explain your offer.

Millionaire real estate investor!  If you have not read it already..

@Joshua Nudell   Thanks!  We are excited too!!    @Scott Nipp  You will get one soon enough!  It feels like it takes forever but hindsight it seems like it all just flew by!!

We just closed this morning!  We did have to pay for 900 in closing cost for the purchase between us and the seller, but the buyer paid for closing on the other end.  So we made 10600 on the deal.  We plan to use the money to fund future marketing!  

Old Republic and Investors-title are both investor friendly title companies.  Welcome to BP

@Patrick Britton   Thanks!