All Forum Posts by: Shannon Webb

@Mark Elliott

Exactly! I am still getting a feel for the type of spreads that would be considered good deals for a buyer. Like i said, I still would have to a walk-through of the property to see whats going on with the house, but I figured with 60% discount that would lessen the blow of potential repairs. That's why I figured 102,000 would be a good investor's deal. 

But then that's why I'm asking about the seller's side of it. I have seen a lot of cash sales in the area going for 50K some are comparable, some are not. But I don't want to be the person offering a bad deal to the seller just to make a profit.

What it seems to me is that you are suggesting that my sweet spot would be between 100K and 120K, which is where my possible gains from the deal will come from. For instance if I offer the seller 105K and to give the better deal to my buyer, I offer him 115K, I will make the deal sweeter for both ends, netting a profit of 10K....

I'm not against sacrificing for the betterment of everyone, I just want to make sure my brand isn't compromised while trying to be fair to myself as well. 

@Ted Akers

Thank you for replying!  Since you have secured funds for Georgia transactions, what time frames would you suggest I use when trying to obtain transactional funding? Should I have these funds prior to signing a contract with the seller?

@Larry T

I would offer it to my buyer at 102k. That would be the best deal. I guess I was looking to profit off such an amazing deal myself. I know that my cut would get compromised when I have to negotiate with the seller, but what I'm really trying to figure out is how to negotiate a fair price so that everyone wins?

@Guy Gimenez

Definitely! I have an attorney for those very reasons. I don't even sign a contract without first allowing him to go over it first. but I really have appreciated every thing you have shared with me tonight. I feel I can sleep easier!

But I am a sponge and will enact proper due diligence before I sign a thing.... I just have to see where i'm going, Even if it's only 3 steps ahead of me!

Thank you so much!

@Guy Gimenez

 and so I have to make sure to have a contract with the buyer, dictating the when's and how's, prior to assigning the original seller's contract?

@Guy Gimenez

 That being the number on reason to have several investors in your pocket and to create great deals! This is work, but I'm enjoying it so far. 

You seem you be a little deterrent when it comes to the assignment clause.... Is this something that is often frowned upon? 

@Guy Gimenez

No offense taken! I agree 1000% that's why I'm so happy to have found BP! My goals have been my motivator thus far and my local REIA meeting isn't for a few more weeks. lol

With that being said, if I get the contract at 100K and ASSIGN it, The investor will pay the 100K and I would get an assignor's fee?

@Jason Windholz

 so, this is another way to fund. I will do my research on this as well! 

BTW, Statesboro is where Georgia Southern University is, Home of the Eagles! :)

@Guy Gimenez

 Goodness gracious! That's an amazing figure for someone in my position. 

@Guy Gimenez

Okay, I see what you are saying. I was thinking that's what you meant after I posted! lol I guess that's the purpose of having a "mentor". 

Well, let me ask this. From what I know, once the probate is settled, isn't the property completely in the executor's hands? Can't I have an assignment clause in the initial contract? And then also while this may seem silly to ask, isn't wholesaling and assigning contracts the same thing?