All Forum Posts by: Rico O.

Hi every one, Is there any Wholesalers in Monterey County CA???? Looking for houses...

Thank you Greg,

I was under the impression that any offer would be presented with a contract along with specifi contingencies. I don't have or know how to fill out the contract offer document so I thought I had to pay some one to write out the contract and pay a fee to do so. 

So if I have this right, an agent would do me the favor to write the contract with out a fee since the property is from the MLS listings? In return I can have her sale the property at the time for resale if the offer and contingencies meet all expectations?

If the offer was cash how do I make a formal cash offer, is there a document I need from an attorney to do this?

Thank you for your responce and feed back...

Thank you every one for the advice. I am new and will continue to sharpen my skills to make sure I make educated decisions when the right time comes.

Again Thank you,

Rico

I have never flipped a property but will like to venture out that route, I am just not clear on how the cash offer is structured as far as who makes the offer? Is it an Agent and if so what is the fee you pay the agent for writing a cash offer for you and it is accepted?

Does the Agent make no money writing the cash offer but make the commission at the time you are ready to put the property on the market for Agent to sale?

Thank you in advance for sharing your knowledge,

Rico

Hi I was presented with an opportunity to buy a property cash and I ma very scared, I will make an offer personally and not know what are the steps, never seen any one do it but the property I know is a good deal, for $200k and market value after repairs $300-325K. Some repairs kitchen needs to be leveled and windows need to be replaced plus cosmetic, land scape etc.

Please advice me on what requirements I should bring up with my 200k offer?

Hi everyone I have never looked up distress properties and so I am wondering what is the best way to start? is it Tax office and if so what am I looking for to start?

After paying for mortgage and utilities there still quite a bit left For profit. Can you explain why you say that paying utilities even though they're very little its a deal breaker after paying insurance tax utilities mortgage they're still like 1800 dollars worth of profit for the property, what do you think?

Hi Nathan,

Thank you for your response, looked up near by Five Unit Complex with REDFIN Site what Sold in 2005 at 727k taxes for 2013 at $5,620 & another site gives value 525k and taxes for 2014 at $6,089.

Property I'm making offer is asking 300k for quick sale, taxes $4,307, 4 units 2bed 1bath all units, rent is 1k per unit. Utilities sewer and garbage landlord pays. Ins. $1,147 not sure if I'm considering all info to make the proper offer? Not experience as you can see, please excuse my ignorance I'm a bit nervous  

Hi every one,

I have the opportunity to make an offer on a bankruptcy case. There are multiple offers on it at this time so my question is, what should I offer if the asking price is 300k and the property is not in bad shape. There is already 3 cash offers as of now. Do you think the cash offers are the asking price or lower? Should I go for the asking price or how much higher?

Any advice will be appreciated.

Thank you

Rico