All Forum Posts by: Ibrahim Hughes

Hi Eric. #'s 1,3 and 4 seem to be the same issue: over paying and thus no (real) equity. I'm a rehabber and wholesaler and don't do shortsales. However there are plenty of agents in my REIA that do. And so in exchange for comps, I refer them sellers who don't fit my criteria.

Having said that, the same thing can be said for #2. So my response is usually "well it seems, Mr. Seller, that you're sort of looking for top dollar and I don't blame you since you should be able to get that amount from a buyer using a conventional mortgage. But as an Investor, I wouldn't be able to pay that amount and still make a profit. The only people who can afford to pay that amount are folks who are using fha or conventional mortgages. And the only way to find them is by listing your property with a good realtor who knows the area. Why don't I have my friend whose a good realtor call you and give you some more options as to how you can get the price you're looking for".

Once again, I'm ensuring that I have plenty of access to comps when I need them and helping out a friend at the same time. Hope this helps.

Hi everyone. I've been wholesaling, landlording and rehabbing in Northern NJ (primarily Essex and Union counties) for 10 years and have been fulltime for 7 of those years. My specialty is abandoned properties (I can find almost anyone), preforeclosures and estate sales. I'm interested in contributing to the site here (I really like it) as well as seeking assistance myself (no one knows it all). Outside of real estate I volunteer as a youth mentor and have been working with a great youth mentoring organization in Newark for the last 4 years. I'm also an 'Old School' Hip Hop afficianado That's it for now. :groovy: