All Forum Posts by: Vincent Herrera

Hey guys how is it going?  I have a question about  making an offer to the seller and the criteria  you used to make the offer . Whenever you estimate your offer  to a seller  do you factor in  closing costs for your buyer?  For example  after repair value  -  repairs  -  around 6-9% for closing costs and miscellaneous  - purchase price  -  wholesale fee? Look forward to hearing your responses. Thanks! 

following

@RickHarmon I'm sorry, what you just said was very hard for me to understand.... Maybe I'm in over my head on this deal.  I felt like it is a good deal, but some of the posts here are starting to make me feel otherwise.... I thought I had a decent grasp on subject 2 but I guess not. Can anyone recommend a book on subject 2's?

Can anyone help me out with contracts for this type of deal? . Also if the do on sale clause is triggered I can just refinance the house and pay it off right? Me and my wife are planning on living there a while. 

Yes we are going to live in it for at least a year and then rent it out as a long term hold.  Thanks so much guys for the feedback.  Do you guys have an example of the contract I should be using? And also @Dishant Pandya what do you mean the numbers aren't right? 

@michaelquarles I would also like a copy of your book! Please let us know how to get it. 

Hello everyone, I just got my first lead  on a subject to deal that I think might work pretty well but I wanted your advice . This house is worth around 140k and needs no repairs. The seller is behind on mortgage payments two months and is behind around $2,000 in back taxes .she told me that she has declared bankruptcy as well. She owes 99k on the property so has a pretty good amount of equity. She is willing to let me take her house subject to her existing loan. I would be moving into the property as well. How should I go about doing this? I mainly wholesale properties. I'm not sure of what contract I'm supposed to be using or any other legal documents that I need.as well as the process as a whole. Can anybody give me advice as well on what I should do about the back taxes and late mortgage payments? Also anything I need to watch out for? Any advice or tips would be greatly appreciated. Thanks!

@rickharmon Thanks for the info Rick. so do you think I should just be looking for the inventory document to find the decedent's property address?and if it doesn't have it, Just skip to the next file?

@jeffcubinski can you explain to me how to look that up? 

Hello there! I am new here, this is only my second post. I was wondering if any of you wholesale probate properties? I am asking this because I went down to the courthouse to find the leads and I could not find the decedents address. I found the personal representative's address but not the decedents.The documents I am finding this information on are application of informal probate and the will. The only thing listed in the will is the county the person expired in, not the personal property (at least all of the ones I've seen).I am in Albuquerque, NM. Am I missing something? Do I just have to dig deeper? I'm not sure if it's even possible to retrieve these leads in my county. Any feedback is greatly appreciated! Thanks!