All Forum Posts by: Matt C.

@Andre HerreraI have seen you guys around quite a bit when looking at properties. Are you only buying MLS? Or are you buying direct from seller?

@Nicholas Smiththanks for the insight. What is rule of thumb? 90 day inspection? 120? How about escrow? @Karen margrave I know you probably deal with this quite often.

I am looking to purchase a vacant lot in San Diego for the purpose of building a spec home. I have already spoken with the land owners and they are expecting my contract in the next day or 2. What is the appropriate length of time for inspection period and escrow in this kind of purchase? Better yet, does anyone have a contract they have used in California to purchase land for the purpose of new construction? There will be no splitting of lots, changing of zoning, etc. Thanks, Matt

@Dan H. that's right Dan. The city of San Diego is very strict on their egress code. We end up lowering the window sills on almost every house we put windows in because of this. I believe the code is now 44" from floor to window opening. 

@Russell M.i would stick with retrofit windows especially if its a rental. Your other option would be new construction windows which would require lots of stucco repair, flashing, paper, lathe, etc. Home Depot carries Jeld-Wens which are actually a pretty fair price for a entry/mid level window.

Thanks @Jon A. Hope your project is going well!

@Marcell Z.No need to apologize. Unfortunately many wholesalers still beat us out. Not everyone is looking to max their net when selling a property. A lot of sellers just want the easy way out, which is where the wholesalers come in. Just got beat out on a property on Friday for this exact reason.

I have only wholesaled a couple but I have purchased a lot of wholesale deals

@Logan Drew unfortunately not. the proceeds will be used to fund a replacement home.

I have searched on the forums and couldn't quite find the answer to my question.

I am looking at property where the seller is open to the idea of a sub 2.

Here are the numbers:

ARV - $600k

Loan Balance - $300k

Price - $450k

My question is: If the seller is willing to let me take over payments on the $300k loan what are my options for paying the $150k still owed to the seller?