All Forum Posts by: Rocky V.

Well....I'm not a wholesaler but I am a buyer in DFW.  Here is a pic of this weeks closings.  I'll let everyone else sit behind a desk and speculate while I "Get It Done". 

An Option to Purchase gives you a contractual right to purchase property at a pre-determined price and future date.   This would be ideal in giving you the time to renovate and resell home. 

FYI - I only deal in Texas so I would consult a title company or attorney before proceeding.

I just sold a renovated home with 2 prong outlets.  My recommendation is to install GFCI breakers in wet areas.

Treat them like any other bank and put a lien on home which protects their interest.

@Jeff B. Made a good valid point.  It took me nearly 7 months to refinance a group of sub2 properties.  Title company had to track down original owners in order for them to sign a document before they would issue title insurance.  I would definitely consider an Option to Purchase on this property if your intending to fix and sell right away.

Soft?  I just sold a property that was on the market for 11 days in Cleburne (closed today).  I ended up setting the new $/sqft standard for that area (love cash buyers).  I believe good areas to start looking at are Benbrook, Crowley, Burleson, Joshua and even Godley.  The new Chisholm Trail Pkwy will provide easy commutes to downtown FW.  There is also a major university planned off of the Tollway.

Here is pic of home that sold today.

@Oscar Sorto

Very easy to get 1% or greater in these areas.  I have several around Johnson county and have never had an issue acquiring a new tenant.  My rents range from $900-1250 in these areas. 

@Yinan Q.

I've personally purchased many homes via sub2 and never received title ins.  You must know how to research title issues and liens against property or know someone that can help with this.  I've never had a lender call note due but have only dealt with large banks.  I would advise having an exit strategy in place of either selling outright to another buyer or refinancing within a couple years.

@Rebecca Clark

I'm an active buyer in Cleburne actually just picked another one up on the courthouse steps today.  You can PM me details or call me directly at 817-nine39-619five.

What's your objective?  I would never consider selling either one of these properties unless they are on ARMs.  Do you need the money for another investment that will bring greater returns?  If your only intention is to upgrade your primary residence I would advise against this.