All Forum Posts by: Tera Carter

What about property that has been on the DOM for over 180 days, and property that is really distressed looking, there is a reason why some people are not buying this

I was wondering if in Maryland can we wholesale on a PRE-FORECLOSURE?

And when the house is in foreclosure (is the home owner currently living on the property)?

If not could a ask for seller financing between my company and the seller and then lease optioned it to a renter?

I want to know what my options are when a distressed seller comes to me and their house is being foreclosed on.

@Sherman Ragland

What about forming a Corporation?  Is that good or bad

@Sherman Ragland

Thank you for the information. I would feel more comfortable if the Attorney from the Title company gave me their preferred contract and we can add addendum's to them on the spot (for the non- MLS).

The Board of Realtors agreement/contract.... is that the 10 page contract from the real estate company?

@Josette Reynolds

thank you

@Ashlee Doerr

Welcome

Me and my husband recently started out also with very little money.  The loans to start this business will start soon but at least we have a way to pay them down.  We both work, me part time and him full time.  I'm currently working building my power team and putting in place the right and correct contracts. I wish you well and never stop learning.  

Currently on my 3rd podcast this morning already.

My first Title Company meeting was great.

The young lady made me and my partner feel at ease.

That morning I had my clothes already out to look professional and my hair was in a wrap to match my dress. We pulled into the parking lot 20 mins early and so we walked in 15 mins before the appointment. We introduced ourselves to the front desk, while my stomach to cartwheels. They took us into the conference room ( a long and large table with many chairs and reference books with tons of pens). I introduced me and my partner. She introduced herself and asked to describe the type of business we were. I did not say right out "wholesalers". I told her that we help families or people who can not sell their house the traditional way like through real estate agent or banks that will not take them. We find out the situation first and put a plan together that will help them the best. We do sell to other investor and like minded people such as ourselves.

After that the meeting just flowed so smoothly. She told us what a title company was and its many services that they provide. Then I realized that I had a list of questions such as:

1) are you investor friendly

2) assignment and double close

3) referrals

4) fee

She answered so many question and explained what a HUD-1 statement was and how it was useful. We discussed the areas that investors were spending time in and what the average closing cost on the seller side and end buyer side would cost about.

Overall, it was not that bad. I don't know why I waited so long to start looking and building my power team and now I'm ready. Just needed that first push.

Currently I'm looking for the "Purchase and Sale Agreement" (between me and the seller) and A one page Assignment Clause (between me and the end buyer). ANY SUGGESTIONS

My first Title Company meeting was great.

The young lady made me and my partner feel at ease.

That morning I had my clothes already out to look professional and my hair was in a wrap to match my dress.  We pulled into the parking lot 20 mins early and so we walked in 15 mins before the appointment.  We introduced ourselves to the front desk, while my stomach to cartwheels. They took us into the conference room ( a long and large table with many chairs and reference books with tons of pens).  I introduced me and my partner. She introduced herself and asked to describe the type of business we were.  I did not say right out "wholesalers".  I told her that we help families or people who can not sell their house the traditional way like through real estate agent or banks that will not take them.  We find out the situation first and put a plan together that will help them the best. We do sell to other investor and like minded people such as ourselves.

After that the meeting just flowed so smoothly.  She told us what a title company was and its many services that they provide.  Then I realized that I had a list of questions such as: 

1) are you investor friendly

2) assignment and double close

3) referrals

4) fee

She answered so many question and explained what a HUD-1 statement was and how it was useful. We discussed the areas that investors were spending time in and what the average closing cost on the seller side and end buyer side would cost about.

Overall, it was not that bad.  I don't know why I waited so long to start looking and building my power team and now I'm ready.  Just needed that first push.

Currently I'm looking for the "Purchase and Sale Agreement" (between me and the seller) and A one page Assignment Clause (between me and the end buyer). ANY SUGGESTIONS

wow so much going on

@Brian Towner

I want to do actually what your are doing. I want to find a multi family house and live in it, but dont know how to go about getting it. I have access to a VA loan, or FHA loan. Can't wait to see @Account Closed

My husband's job, is giving him the opportunity to get his real estate license.  I wanted to know also if it is worth it.  I'm new to wholesaling and trying to learn everyday.

@Account Closed

You have really helped me and thank you.  I just understood what a short sale is... I will spend more time on this subject as well as other strategies.