All Forum Posts by: Terry Royce

I frequently put out signs that say
"Cheap Shell
5k
555-5555

This gets the phone ringing, and I usually try to keep one or two "junker" properties around so I have something 5k.

I would pay 30% of net profit on a wholesale deal if you brought a capable buyer, or brought me a good deal.

I agree with some of the points, and I skipped over alot of them.

I can see some people not wanting to give you 30% of a deal for certain things, but there are certain things that have 30% value.

Again, these things would have to be demonstratable as mentioned

Might want to check with a lawyer, but what if you marketed it in an LLC, and the referral fee got paid to the LLC, instead of you?

At closing you could just have a funds dispersement

Not sure about legal issues

When you say you phoned your broker, are you licensed? Or you were just calling your agent?

Didnt they just extend this another 3 months.

For people to close out the deals (not get contracts?)

Place in an LLC, and then change the articles of organization to have your end buyer as the managing member.

If you have a good relationship with the title company they can do the paperwork for a fee, probably a lot less than the closing costs

I've heard of other investors who successfully completed this, I just wanted to find out more about the structuring.

Anyone?

I've read conflicting information about double closing to an FHA end buyer. I know the 90 day rule was lifted, can anyone provide more insight as to how to navigate this.

I have a house we are purchasing for 45k and we can resell to end buyer for 80k.

What is everyone's experience/ thoughts on using postlets?

I like using postlets because they post to several other sites, but I am using them on Craigslist, and have not been getting a typical response.

My hunch is that Postlets come off as TOO professional, and people think they are not getting as good a deal for some reason subconciously.

Thoughts anyone? Results you have experienced?

What is the best site for doing reverse searches for phone numbers?

I've always used whitepages.com but was wondering what everyone else used.

I am trying to work out a subjet 2 deal where the balance of the loan is about 50k, the mo. payments are 450(PITI). House needs 10k in work, and will rent for a min. of 1000 a mo. Sec 8 will easily do 1200-1400. The owner is 3 mo behind and with penalites and what not owes about 2500-3000. I am trying to structure the deal.

A investor I work with said that so the end buyer doesnt have to come to the table with as much money structure the deal with 2 land contracts. one between me and the seller, one between me and the buyer. The End Buyer would have to come to the table with about 5k (3k for the bringing payments current, 2k for an upfront fee ) the make my contract with the end buyer whatever I want over the 2k so my contract could be for 600 with the end buyer a mo, and 450 with the seller per mo. So in essence my fee is increased but in the form of a pasive monthly payment of 150.

Thoughts or input on structuring this.