All Forum Posts by: Riley Hinshaw

 Are you talking about the double close?

Hey BP,

I was wondering if anyone here has successfully obtained a wholesale deal from Hubzu?

ive been bidding on some properties and ive come across a killer deal in San Diego, I would really like to test the waters with wholesaling properties i find on Hubzu. I know a lot of people do it, I would just like to know how to go about setting that up. Any pointers??

How would i set up the double close?

anything helps... THANKS!

Hey BP, 

I was wondering if anyone here has successfully obtained a wholesale deal from Hubzu?

ive been bidding on some properties and ive come across a killer deal in San Diego, I would really like to test the waters with wholesaling properties i find on Hubzu. I know a lot of people do it, I would just like to know how to go about setting that up. Any pointers??

How would i set up the double close? 

anything helps... THANKS!

best thing to do if scared about it, is try to get the seller to agree to you not having to pay when a tenant isnt present. People do this all the time and it saves them from paying the rent for a month while a tenant isnt there, however you can also make an agreement in a contract that the buyer has to stay the full 18 months or so or else they have to pay, say $5,000. Ive seen this done before and people do this because if it goes to court it always wins because its on an agreement 

why not start with a lease with option, That way you can test the waters with having a tenant, while selling the house at the same time. You can negotiate a great deal on your end with the tenant, and cash out. If you add 5% appreciation, and 5-10% premium, and make it for 18 months, with say $10k down, Youll make way more in the long run, doing that will get you at least $25k more for house(if its over$100k) within an 18 month agreement. If they decide after 18 months they dont want to flex their option to buy, its even better for you because you keep every penny they spent on the house, and then you can start over and collect another fat payment up front with another 18 month lease option. If that happens, you made over $50k more on that house in 3 years (or more depending on appreciation %) Everyone wins 

m a wholesaler and ive been wanting to use different strategies for a while like seller financing, i dont want there to be only one option to homeowners who dont want to sell their house far below market value seen as thats the only offers i make. How do i structure a deal of this kind, I think im going to target For rent by owners, if we cant come to an agreement on a cash offer, what do i do to set up seller financing? Is it a lot of work, or difficult ? and also how long are you in an agreement for ? I can always try to find a cash buyer for it after about a year right?

ANY HELP IS GREATLY APPRECIATED! THANKS BP!

Im a wholesaler and ive been wanting to use different strategies for a while like seller financing, i dont want there to be only one option to homeowners who dont want to sell their house far below market value seen as thats the only offers i make. How do i structure a deal of this kind, I think im going to target For rent by owners, if we cant come to an agreement on a cash offer, what do i do to set up seller financing? Is it a lot of work, or difficult ? and also how long are you in an agreement for ? I can always try to find a cash buyer for it after about a year right?

ANY HELP IS GREATLY APPRECIATED! THANKS BP!

Im a wholesaler and ive been wanting to use different strategies for a while like seller financing, i dont want there to be only one option to homeowners who dont want to sell their house far below market value seen as thats the only offers i make. How do i structure a deal of this kind, I think im going to target For rent by owners, if we cant come to an agreement on a cash offer, what do i do to set up seller financing? Is it a lot of work, or difficult ? and also how long are you in an agreement for ? I can always try to find a cash buyer for it after about a year right?

ANY HELP IS GREATLY APPRECIATED! THANKS BP!

exactly, no where in my post did i say i was gonna lie to anyone, theres a reason i posted this to begin with, cant you guys read the question that clearly says " what should i do!? what should i say to the homeowner?" why else would i ask those questions. Im not just going to jump the gun and go get myself involved in something ill regret being apart of. I thought that was the whole point of these forums. i guess ive mistaken 

how do i go about getting a property under contract that is a for sale by owner? He is asking $520k and the arv is $650k so its a deal with great spread. What should i say to the homeowner? My plan would be to wholesale it and assign it to a cash buyer. I would resell for $527k