All Forum Posts by: Account Closed

HI Robert I am a wholesaler in Orlando and can help you with your search for properties. I currently have many properties in the Tampa area. Also I have quite a few investors looking for properties in Tampa. I'm sure we can do business helping each other. I looked at your profile and the webpage you listed does not work. What is your email and phone #?

There's your problem, an agent. I don't see any contact info in your profile. You can contact me by clicking on my picture. Send me an email with your request. 

I am a wholesaler in Orlando and I have properties all over central FLA. I don't have any right now in Marion county but am getting more properties every day. Do you want me to send you the current list?

Hi Mark I am a wholesaler here in Orlando and have many properties for sale, SFR, duplexes, triplexes, quads and small MF. I have two local lenders that will finance any deal at 90% of the purchase price and rehab as long as the total is no more than 70% of ARV. Do you want me to send you the list and info on these 2 lenders?

Also because you are from out of town I also have a company that can provide a complete turnkey operation for you if needed.

You can always put in the contract 'purchase contingent of analysis of financials and physical inspection of property'. 

Sure it will be considered a commercial deal which the financing is different than residential deals. 

The answer to the original question is the seller does not care where the money comes from. The only issue with financing is it a contingency on the contract or not. 

You can put in the contract 'This contract is contingent on my partners approval' as a way to get out of the contract if needed.

In answer to Austin's question. The way to make multiple offers is to write up 3 contracts and offer them to them one at a time. The first one is all cash and you expect them to NOT take that offer because it is too low a price. Then you give them the 2nd offer where you are offering them a higher price than the all cash offer, but below full market price, then putting down some cash (about 10-20% of offer) and the seller will finance the balance at a monthly payment that is quite a bit below what you think you can rent it for (but at 0% interest). The 3rd way is to give them their asking price with very little down (no more than 10%), a little more than contract 2 in monthly payments as long as you need it at 0% interest. 

An example is I am going after expired listings and negotiated a deal with the seller on their $295,000 property. They had it listed for 6 months without any contract. The property is in great shape so it did not need any work. The market price is $295,000. I first offer him $191,750 (65% of market $) all cash. He rejected it. I gave him contract #2: purchase price $250,000 with $25K down and the balance at $1,500 a month for 5 years and the balance of $135,000 paid at the end of the 5th year. And the 3rd contract is at full market price of $295,000, $30k down and monthly payments of $1,500 for 176 months (at 0% interest).

He countered at $265,000 purchase price, $65k down, $895 month payments for 5 years and the balance of $200,000 paid at end of 5 years. Yes the monthly payments does not lower the principal but I was going after seller financing, which is more important. I plan to sell it on a lease option with $75k down, monthly payments of $2,000 and purchase price of $295,000 for 12 months. The purchase price goes up 10% each year they do not exercise their option for a max of 5 years. 

Mike I have several small MF in central FL and 25 in Chicago IL. Which do you want?

Employment outcome is always the best one I look for. Also the area where the property is located in comparison to where are the best employment areas. That is a good start.

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