All Forum Posts by: Ty Primers

How does the process work when wholesaling a REO property? I understand I need to reach out to an agent and provide a proof of funds letter and EMD and I'll need to double close on it but what else is involved and How long does the whole process take?

On average, how long does it take to build a spec house when the land, plans and permits are already in place? How consistent is the building cost vs the planned budget when building and is it something an investor can do full time when they’re not a builder themselves?

I’ve figured out my solid few ways of finding distressed properties and the owners and getting them under contract, but without a strong and solid buyers list to market to, it’s hard to get deals done. Can anyone give some guaranteed ways to build a cash buyers list in your market/area? I’ve got a deal I’ve been marketing through CL and social media but it’s mostly just tired kickers that I’m getting responses from. Thanks for any input

@Rich Kniss thanks for the info Rich, do/have you built spec houses before? I’ve been looking for more information on the overall process but can only find very little results

@Lynsey Dreis thank you for the response, so me as a drafter, I could take my designs to an engineer and from there I’m free to build as I’m permitted?

Could a draftsman use their own designs for a spec build in Missouri as long as they get stamped by a structural engineer first? Would it make the cost/process any easier that way since it’s following a set blueprint that shouldn’t have too many hiccups in the building stages and as long as the numbers work out like any other real estate flip ? Thanks in advance for any input.

@Wayne Brooks understandable as far as the cheap land. I was just wondering how a drafter/designer could use their talents in the real estate world

In my market land is relatively cheap (as little as a few dollars) and was wondering Would it be feasible for someone who is an architectural drafter to buy the land, design a structure for it, get them approved and then sell for a profit to a builder or home buyer before even beginning the construction process? Would this be considered a form of development?

@Don Konipol after I buy it sub2 how long would it take to refi If the owner wants the mortgage out of their name? Or in that case would selling it make more sense after its purchased?

@Don Konipol @Jay Hinrichs thanks both for your input!