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All Forum Posts by: Kay Khan

Kay Khan has started 3 posts and replied 25 times.

Post: Hard/Private money lender.

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

@Stephanie P.

Thanks for taking your time to explain basics to start. Thats what makes BiggerPockets great real estate educational resource.  

" stop trying to figure things out and START DOING THINGS!! "

Amen

Post: NeeI have a motivated seller and don't know what to do.

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

Physically or financially either way bad deals.

Brian Gibbons call help.

Post: How to approach this motivated seller?

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

First seller finance. Second lease option. Do your numbers at least three times. Make sure that the rent pays your note and then some for you/expenses.  

Post: Some things my first property has taught me.

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

@Gary Dale McKee. Congratulations on your first deal. Investors who claim or look successful today had made many mistakes along the way and that is the way to learn, hands on. From now on, continue with your journey to success and keep learning. Don’t quit. Learning process never ends because every time it is a different opportunity. No two deals are alike. Thanks for sharing and good luck.

Post: Should I presue this wholesale deal?

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

- Do you have a buyer in that neighborhood?

- How much is the rehab cost?  

Not enough info.

Please use wholesaling tool at Biggerpockets.

Post: What would you do and how would you do it?

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

@Jordan Sunshine I salute to your camaraderie to your fellow serviceman. I know there is always help available close to home all you have to do is ask.

Happy holidays.  

Post: Assignment Contract and 2 Wholesalers

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

Brian Jordan,

"fill out an I9" 

You mean form W-9, right?

Post: Seller Financing and how to determine if a deal checks out?

Kay KhanPosted
  • Flipper
  • Dearborn, MI
  • Posts 27
  • Votes 13

Hi Adam Kinley,

- Go to county registrar's website and see if there is any leans against the property.

(a realtor or a title company can help)

- Get comps.

- Get repair estimates.

- Check if the rent will cover PITI (principle, interest, tax, insurance) + some for you.

- Structure the deal (work with someone who is knowledgeable in deal structure like

Brian Gibbons).

Good luck.