All Forum Posts by: Sonu Sharma

Well, Andrew Johnson - Thats the reason I want to target listings that have not sold in more than 100 days and have some inherent issues, be it over pricing or something else. Plus the realtor may be on the border of losing the listing anyways.

I feel this would be a great opportunity to owner finance and get residual income on a property rather than selling and taking the equity out. Unless you plan to sell and 1031 exchange the funds into any other property that makes better returns, owner finance is a good long term strategy. If the tenant forecloses, it might turn out better for you anyways. Of course, a team of great RMLO and RE attorney should be able to navigate you thru the legal waters. Good luck !

I heard one of my colleagues mention that we could offer a contract on a property listed on MLS (>100 DOM or not selling for whatever reason) and if it was accepted by the realtor/seller and the numbers were good, I could turn around and assign the contract to another buyer for an assignment fee. He was saying that most of the big wholesalers often do this....

Is this possible in TX and if yes, is there some special wording in the contract that I need to include so I can assign the property to another buyer ? I thought this was only possible when we were dealing directly with the original seller without a realtor in between and hence the confusion.

If this is possible, what should I be looking out for ?

Thank you all.

Justin Karsten could you please DM the electrician's contact ? Looking for someone to help me with the re-wiring of a partially fire-damaged home.. Thank you !

Hi Bart Hedgcock Sarah Hale Could you please DM me your contacts for cabinets and electrician as I am dealing with a partially fire damed home and need some affordable contacts for those two areas. Really appreciate your help !!

Hello Gary Spence . I am not a wholesaler myself but deal with quite a few on a regular basis. I am not sure if each one of them does a title search before presenting a property to their buyers but they do guarantee that if we see any problem with title, they would refund my deposit money. I, of course, do business with people that I meet and tryst personally. So, the wholesalers do keep in mind that referrals can spread much faster and cooperate very well to any problems with title. I think they write it as part of their assignment contract with the seller that any cloud on the title will result in the transaction not going through, which probably helps them guarantee the deposit amount. I am not sure about that part though. If you, however, want to give your buyers a great deal of peace of mind, you could engage a third party company called titlesearch.com to do a title abstract report on any property for a fee. This should definitely build credibility with your buyers, especially in the beginning stages, that you have done your due diligence to prevent any surprises and that you care about your buyers. Hope this helps and good luck !!

Thanks Armando Diaz . Will reach out to you for any such quotes in the future. Its true and sadly not followed by most - to be truthful and honest and not bite the hand that feeds as so much future business is lost due to one bad transaction !! Cannot agree with you more on that ! Thank you for reaching out with your contact. If anyone is looking for a large sized HVAC contractor, I will refer your name to them !

Thank you @Armando Diaz. I couldnt wait long and got a quote that seems to be decent. Maybe you can look at it to see if this is similar to what you do. Although I am going with this guy for this job, I am always looking for more properties and can work with newer people if I can save some costs.

I got the below pricing for a completely new system including new ductwork

2 ton 14 seer AC Unit Franklin (by amana)

Gas Furnace 80% 40.000 buts to 60.

Evaporator coil

concrete slab

refrigerant copper lines and insulation

low voltage wiring for thermostat and condenser.

5 to 7 Supply air ducts boots and grill.

2 return intakes grills under the unit

Dig. thermostat

Suppl plenum

Miscellaneous material to complete job

10 years warranty equipment

1 year labor warranty.

We will put together the equipment according to the state and city code

Equipment/Material......... $ 3000.00

Labor/ warranty.................$1200.00

Total................................... $4200.00

An update - For the title search, I found a site that could do this search per home for a price - it says that they can turnaround with a report in about 24 hours. Not sure if there is a bulk search plan though !! www.titlesearch.com

Thank you @Sean C. - I am guessing that these comps are not pulled out of the MLS or calculated by an AVM. Wondering if there any paid service that can give a Realist report or similar out of MLS ?

Also wish there was some kind of similar service for a title search as well as title companies are busy with so much work !