All Forum Posts by: Account Closed

Assuming you had the money, is it better to pay for a property by yourself, is it better to get private money regardless, or is it better to leverage a partnership/group purchase even if you had the money for leverage? Just want to know everyone's opinion on the topic and why that stance was chosen. Thank you. 

Thanks for your insight @Jeff Petsche and @Matt Roach. Seriously appreciate it.  I will contact the real estate agent and gather more information. Keep you guys posted if anything comes up! 

Hey Guys! Noob here. 

Long story short, I have a friend who is a real estate agent and through the MLS made a rule to send me 16+ units, seller will carry multifamily/apartments every monday. I don't believe this is a deal but I think this will be a good exercise in learning what to look for as although I do wholesaling my main goal is to buy and hold multi-family properties. Gotta start learning this!

Anyway it is a mobile park here in Arizona. Here are the details. Also do not hesitate to comment/criticize. I NEED to know, fully understand this stuff. Let me know anything and everything.  

This information is direct from the MLS.

25 units
Zoning: C- 2

Tax Year: 2016

Taxes: $5,364.78

Ownership: Fee Simple

Range: 2E

Section: 8

Equity: $875,000 (free and clear)

Monthly Payments: 1

Assessment Bal Yrs: 0

Assessment Balance: $0

Cap Rate: 9.13

Down Payment: $1

Down Payment %: 1

New Financing: Seller May Carry

Reports/Disclosures: None

Value is $849,777, NOI $79,870 Cap rate 9.13. I know that you can get cap rate by dividing the value by the NOI so I did that and got 10.63950169024665---10.6. So I feel the numbers are off or maybe I have no idea what I am talking about (likely case).

I currently do not know the physical occupancy or the economic occupancy of the property. Please let me know what other information I need to gather to determine if this is a good deal or not. If anything, as stated above, this is learning experience for me and I need to know this like the back of my hand.   

I appreciate all feedback and thank you! 

Thank you so much for your help!!! I seriously appreciate it. Working on starting a directmail campaign.

Thanks for you quick response @Hank Oyler

So I better understand: Get tax default list, show only last 2-3 years, mail them, if viable-get them under contract with it known that taxes are paid by the seller NTE, and proceed with wholesale process--right?

Are people on the tax delinquent list not at auctions yet correct? Which is what I want yea?

Side question: How do you like oncarrot? How many leads do you see per month them? Of those leads, how many deals do you acquire? 

SORRY for all the questions but I find this tremendously helpful especially since I have not found any other posts on tax default wholesaling.   

Hey guys, 

A somewhat noob here. I am Arizona looking to wholesale tax default/delinquent properties. I understand the basic concept wholesaling but how does it work with tax default/delinquent cases. 

Does the Cash buyer deal with property taxes?

Does anyone have a general step by step run down on how one would go about this?

Thank you for those that can assist!  

@Nikolas Ferreira That's an awesome idea and probably the best case scenario until I can do more complicated deals like this like how @Jeff Filali suggested. Really I would need to know how to structure a contract that protects all parties but I would be going to a lawyer for that of course :D. 

@Account Closed Awesome. That is great to know as he said he has at least 5 more properties. Have you been in the situation before? 

Hello all! Hoping you guys can help. I am super noob when it comes to REI so please forgive my ignorance to this. Here is the deal: There are 4 actors---the motivated seller, wholesaler A, wholesaler b (me), and my cash buyer.

I was on craigslist and found a single family home that needs a rehab. I called the guy (wholesaler A) who informed that he already had the property under contact and he was looking for a buyer. So he is a wholesaler looking for a buyer to buy the property but doesn't know how to get buyers. I am very new to this and do not have the confidence yet to rehab. I did however do my due diligence and amassed at least 5-7 buyers for when I begin wholesaling. My question to you all is: (A) Can I wholesale the wholesale to my buyer? and if so (B) how would I go about it? would my buyer be paying both me and the other wholsaler? is there more paperwork involved then just the purchase & sign agreement and the assignment of contract? Has anyone been in this situation before? Please inform me as this will of course determine what I do next? 

Thank you.