All Forum Posts by: Sharon Tzib

Just use your state's standard purchase agreement, and in the financing area, insert the terms you have agreed to. Basically, the seller is the lender in an owner finance deal - no need for a special contract.

I would not bring up a mortgage servicing company as the buyer - that's the seller's job to request, since it benefits them (making sure you pay on time and being notified if you don't).

Good luck!

It's disappointing this thread went dead without a resolution. Did anyone ever find out if double closings are illegal in Texas?

The whole reason wholesalers do double closings in the first place is to avoid having their assignment fee show up on the seller's HUD-1, so suggesting that as an alternative defeats the purpose.

Hoping we can get this question answered. Anyone?

Most wholesalers I know swear by Zoho as a complete CRM (and it does a lot of other cool things too):

http://www.zoho.com/crm/

It's a whole new ball of wax than conventional lending. Would love to hear from any of you who use hard money to finance rehabs, what are some of the pitfalls to using them? What are the incentives? What should an investor always be on the lookout for - terms, gotchas, scams, etc.

Any and all opinions, advice and or stories about hard money lending would be helpful.

Are you sure you have all your costs in there, my friend? Seems like you left out initial purchase costs. How long will this project take you? I don't see any holding costs either.

Factoring those in, you'll definitely want to see an ARV of $175K. Good luck with the project.

Do hard money lenders care about your credit? And would you use one on your first flip?

Hey Ricky Ostrom, thanks for the quick reply. Yes, if I were to use the site to find properties, I would certainly want to have a premium account. To answer your question, being in Belize does not limit my ability to purchase property in the U.S. Checking your site out now.

Still would love to hear from others if they have had any experience with www.myhousedeals.com.

Ricky Ostrom I ran across [http://www.myhousedeals.com/] the other day and wondered if they were legit or not. Do you work for this company, or do you only use it to find buyers for your wholesale deals?

Does anyone have any feedback about this company - good, bad, indifferent, run for the hills? If an investor like myself pays $37/month, will they really find good deals with decent spreads, or is it all smoke and mirrors?

Appreciate any feedback on this company. I'm looking to start investing in Houston and want to find quality wholesalers to work with.

Which evaluation rules do you use to quickly assess a multi-family's (2-4 units) suitability for a closer look? It seems to me the 50% and 2% rules wouldn't be applicable because of the multiple unit factors for some of the related expenses and possible variety of rents.

I've read a multi-family should cash flow $100/door with 100% financing (even if you are getting financing, calculate this way).

What do you use as your quick rule of thumb? Thanks!

Hey Brian. I'm a former admin, so proofreading is kind of in my blood! I noticed a couple of typos you may want to fix:

Tax Liens on propert (add the "y" to property)

We will make you an all cash offer withing 48 hours without commissions or fees. (delete "g" from within)

Great website. Hope that helps. How come your phone number isn't showing, btw? Good luck!