All Forum Posts by: Sonja Revells

I am the wholesaler 

I have… But her contract is 10 pages long and I don’t want to miss anything or misunderstand something.

   She also wants to use her own title company and I explained that we have a title company we’re going to use and she said OK.

  Well we’re using this one.
And I don’t understand why two different companies would be used. 

Looking for an investor friendly title company in Virginia that will work with wholesalers. 

   So far, I haven't had much luck finding one. 

Any suggestions?    Would like it if they can also do e-closings.   TIA

I have a property under contract and a realtor wants to go under contract for it, with one of her clients.   

    He wants a 14 day inspection period, which the sellers are okay with.   My question is, how does it work if you want to keep things open for backup offers, incase this buyer doesn't want it?     

Because she's a realtor she's pushing an official Virginia state real estate contract between her buyer and my sellers..... 

but I am the one who should be giving her a contract.   Not the other way around.  She has been VERY aggressive.  

 Regardless, how does it work if a buyer comes to the table but you still want to keep the option for other bids in play?   

The seller's want to close in 60 days, so we have time.   But if we officially go under contract with her/realtor I would assume we cannot, should not keep promoting the property.   I say "we" because I have been very open with the sellers on other offers that came in below their asking price which is firm.  

This is only my 2nd wholesale deal so please bear with me. 

Hello, Does anyone have advice or pros. vs. cons on novation agreements? 

I "think" what I am contemplating is technically called a hybrid novation, please let me know if not. 

I am talking with a seller that wants more than what I feel comfortable getting a pml or hml for in addition to repairs.  He does not want to do a seller finance (the house is paid off).  The home needs about $100,000 in repairs.  

 If I had the repairs done, then we listed it on the mls and split the profit, is that called a novation, or something different?   

If anyone reading this has done one of these, what advice do you have?  TIA   :)

@Chris Seveney primarily Padsplits 

Working on establishing business credit and about to register for a DUNS #...... does anyone know if having real estate investing in our LLC Name.... would be considered more risky to DUNS ...and applying for business credit? I really don't want to have to change our name/form a new LLC, AGAIN.... but want to have my best opportunity at building business credit from the start and I have been told by a few people that a more generic name is better..... a name that isn't specifically risky, like real estate investing.

DSCR purchase loans for existing Padsplit properties that have rental history, AND fix and flip loans that I will need to refinance into DSCR for properties I will turn into Padsplits.

 Of course I did that.... before even posting on Bigger Pockets, but I'm not seeing anything specifically about this company, just a bunch of businesses with similar names that do construction.  

Where are you finding reviews…?  I’ve been having trouble trying to find any. Although I haven’t done a deep dive yet.