All Forum Posts by: Stephen Bowman

Is it possible to give a seller money to pay off $4000 in delinquent taxes in exchange for repayment of the loan in full (with 7% interest, 1 year term) + 15% equitable interest in the property? Also, with an agreement by both parties to begin the process of selling the property immediately? 

A seller has offered these terms to me (the lender/investor) and I'm wondering if anyone's ever done a transaction like this? Would I just need a promissory note and a deed of trust?

"If it were me, I'd get the contract, then assign and collect POC and be done." This is exactly what we're planning to do.

Newbie here :) by POC do you mean payment on close? And would it be smart to do $5000 deposit, $10000 at close? The title company will honor this contract even though the purchase price says $710,000 correct? 

Thanks for the quick reply!

I'm new to wholesaling, but have a great deal we're working on closing. Does anyone have any advice on wholesaling package deals?

Let's say we had 13 properties that a landlord is willing to let us put under contract for a total of $710,000 and we have a buyer at that price. We want to charge a mere $15,000 assignment fee. The properties still have a $250,000 commercial loan and the buyer is getting conventional financing on his end to close the deal. 

Would we have to open escrow for each house separately? 

Since the buyer is getting financed, I'm assuming each house would have to appraise for a certain amount of the entire deal to go through? 

Would we have to have multiple contracts with the seller and with the buyer or just one for each? 

Any other pitfalls we should look out for/is this even possible?

Thanks!

BS in Informatics, minor in Business. I'm thinking about getting a Masters in Accounting soon as well. I'm a fraud analyst for Google in the Bay Area. Analysis is fairly the same no matter what data set you're working with, so I've applied a lot of the skills I have to real estate in analyzing markets. Before Google, I was an IT consultant and a workforce management consultant which has given me confidence when talking to buyers/sellers.

I'm fairly new to real estate though and would love to connect with anyone, but especially if you're investing in the Bay Area or Indianapolis!