All Forum Posts by: Ronald H.

If I were venture to guess these Tenant's have broken two of the lease agreements. Non payment and if you examine the lease their is probably a section in it describing how many people may occupy the apartment.

As far as the marijuana smoking goes, they may be breaking the law, but proving it would be difficult. If there are a lot of people in the apartment, all the time, perhaps you could park nearby and take pictures of them and note the times and dates.

If they seem like they are going to fight you about non-renewal, I would offer to forgive the past due rent to get them out. This is not intended, or to be construed as legal advice. Last thing you want is for them to trash the place.

Using the Constable to serve the NTQ would be the best way. Perhaps the Constable will walk in on one of their dope smoking parties.

If your friend is running his flipping business from out of the country, I would like to know who inspects the out of country real estate for him. I would like to do a flip on homes in my state and out-of-my-state, where the economic and job prospects are good. This could allow one to run their business from home, pretty much. The trust level would have to be extremely high. I know, I would love to know what his exit strategies are on the normal contracts. Is he, as the wholesaler having his contract with the seller, contingent upon 3rd party Investor financing approval, or the usual Acceptable Inspection Clause? What other exit strategies does he use, since we all know that having only One Exit Strategy presents more risk than having a few. Does your friend use a Virtual Assistant to take pictures of the subject property? This would make a "Great Topic" here.

Some research or professional legal advice initially would be smart regarding contingencies and subject to's, considering that every state has different laws and trends. Lots of marketing for the cash buyers would be diligent as well.

This would be a great thing if one could understand it within a reasonable time span. Use listsource to find cash buyers, use click2mail to market to them, and use an automated calling system to screen potential prospects.

Thanks Jon, for your initial email here. I would love to be able to do flips without seeing having to see the property. If you got the time, it would be excellent if you would share some of your friends strategies with all of us.

I want to thank, all if you for your responses. I did not check this site and this thread that I had started for a couple of years now, due to unforeseen factors, and some of the replies are great. They might help out others.

I am, as I was aware of masslandrecords, salemdeeds.com. I have found using Salem Deeds or salemdeeds.com to be easy to a point.

To locate leads of people in distress sometimes can be time consuming and confusing.

Locating leads of home owner's, who have paid off their mortgage on Salemdeeds.com, and now own their property, free and clear, is even harder and more TIME CONSUMING.

I think LISTSOURCE, along with scanning the newspapers, pubilc notices, business cards, and door hangers might be the best. Later I can expand into a website, toll free number and automate, in order to eliminate the tire kickers.

Thank you, all

That's right, but me as the wholesaler per say, does not pay that. The third party Investor, who had already received the property details, repair costs, holding costs, financing costs, and sales price from me, with all the contingencies removed, in order for the Funder to fund needs to put this in Escrow, and NOT the wholesaler. That is how I understand it.

Thanks, Joe. I guess you kind of answered my question already with your response. The wholesaler will pay the $400 to whatever up-front one time, administration or doc fee, and with most, the wholesaler will be responsible for the Earnest Money/Good Faith deposit in the amount negotiated or standard for the are.

Many, of the funder's, if not all, are requiring the wholesaler to conduct that particular transaction under the umbrella of an LLC. In other words, they require the Wholesaler to have a Limited Liability Corporation setup, prior to using their services and selling the property.

Hello, Joe Gore

Which fees or money do the Investor's want to pay at closing? Most, but not all, of the Transactional Funder's that I know of, claim to pay for the closing costs, but require an up-front fee of $395 to $595 or more. This fee, needs to be paid up-front and NOT at escrow. Is this the fee, you are talking about?

Many, if not all will provide the Investor, a Proof of Funds letter, which I am not sure works yet.

Some of these funder's offer a 90 day "extended funding" for homes that can be fixed in that time. Of course, the cost to the Investor rises.

Finding people here on Bigger Pockets, who have actually used any of these funder's to double close on a deal where a Wholesaler sells a rehab to a third party investor has been difficult to find here. Where are the successful flip stories with Investor's using a Transactional Funder????

All I am looking for is the name of the friendly and easy to use Transactional Funders.

My list has six or seven, and searches with those names produce minimal results.

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It is not my posting, Mike. I thought that the posting seemed a little weird, and I wanted to see what others thought.

I did a search the other day here for Transactional Funders and I did not find "ONE" posting where someone used a "Transactional Funder." With fees at 1% to 2%, and a $395.00, one time processing fee, I thought that they represented a promising avenue for financing a deal, so my question is this.

Why are Investors not using these companies? I have checked other websites, and found that Coastal Funding was used successfully.

Just some are

Besttransactionfunding

CoastalFunding

and there are more, but that is a moot point, so I will not go any farther.

What does everyone think of the Ad below, that was posted on Craigslist, on April 12, 2014?

$1000 Single Family Homes Needed - NOW! (Attleboro, Seekonk, Mansfield, etc.

0BR house

Posted that message in 2 different websites, and I got a couple odd responses from a couple people here, and on the other website, everyone was entirely positive and upbeat.

The responses here to becoming successful, when ugly, went as follows.

One just typed ? like he just cannot understand.

Another respondent said, I sounded weird, but told me, he was not beating me up.

Yet another, told me, my communications skills are lacking.

Thank you for your feedback folks. It IS appreciated.

* Interesting point, Bob. The more successful we are, the uglier we get.