All Forum Posts by: Wesley Merriweather

I know this may be a loaded question but I am looking for some help concerning owner financing. The calculations on how to handle providing offers to sellers and buyers creating a win-win for us all. I have actively been buying and selling real estate up to this point but looking to expand my opportunities on doing more deals. 

I understand the process of owner financing and the things leading up to presenting the offers I guess bottom line is the confidence of knowing what you are offering is ethical and fair knowing that this I am doing my part to make a no deal into a deal where the seller did not want to accept cash. 

So as an example I have a property valued at 100k that's free and clear and seller just wants to do a deal but not my wholesale cash offer. 

My 3 options would be net payments, interest payment, or cash

What would be ways to work the numbers in determining the monthly payment with Interest to my seller with or without balloon payments. And How to work the numbers to make sense for a tenant buyer?   

Great Info, very useful! Great job informing ppl like me of these nest holes

Ok, here is my take being in the industry. Pest control is all about controlling the target area you see the pest or rodents. First off my opinion is strictly coming from being in the pest control industry not has a landlord. The rates are true as a rule you can negotiate everything, I did it all the time with homeowners. Second, your best option if you want to save money is right in line with what JOSH said DIY. Research and find your best option to doing that such as for mice or any type of rat use a bait that you simply place in a container that mice will draw to and eat and instanly kill, that my friend is called T-1 rat bait but it works for both. As far as insects and pest, spray your house with google, on a product with the ingredient pyrethine, it is a monster and on a routine basis you spray this and no problems. OR simply just insert a pest clause in your contracts!

I didn't intend on going this far but hey this is what BP is all about. Actually here goes research a product call "Talspar P" all the big companies use it and as someone that does not advise spraying a product that you are not licensed to spray find someone that is or simply go to a DIY website. Put this chemical (always use safety protection such as gloves and proper clothing and also PLEASE READ THE INSTRUCTIONS BEFORE USING) in a pesticide bottle spray the outside of the property or inside and whollla..problem eliminated. Hope this gets your started in the right direction. 

Great insight Tiffany and Priscilla. 

To clarify Priscilla..as it stands now in a standard deal with me and an end buyer, I sign my assignment contract as the Assignor and the end buyer the Assignee.

To my understanding since it will be an assignment contract for these wholesale deals with the agent (Buyers Agent), will I have my agent sign MY assignment contract along with the end buyer and/or will the agent have to sign a "buyers agent agreement" with the end buyer paying there commission of something like 2%-5%?

Of course the commission would have to come from one or two ways:

The end buyers commission or out of my wholesale profits. 

They are working with me to open up a their interest in the investing world. I am looking to have them work with me (private investor) to increase our investors network in the wholesale deals. 

They will only be supplying the cash buyers or investors for the deals, as it is known MLS access is priceless and if the ability of a professional can be leveraged for the value of each deal then its a win-win and just another strategy I'm trying to figure more out a bit better.

 I want to keep everyone safe and all licenses in tact. 

Is there any contracts that need to be in place from the "buyers side" or is there something else that can be done to take your regular ol wholesaler in teaming up with a buyer agent, who can bring more investors to our wholesale deals and they get paid in a very respective way?

Yes, Jon the agent is bringing the buyer to the wholesale deal. There is NO listing agreement. 

I have gotten the deal under contract and the agent is finding the buyer!

This is an off market property Joe nothing on MLS or involving the banks.

Hello BP, 

I looked at some previous post and I could not find a clear answer for this topic...

I was approached with by an newly investor friendly Realtor and that was how do they close an assignable contract that was originally signed with a Purchase agreement by me (normal wholesale transaction with the homeowner) 

I have put in a lot of time working with this agent to start doing some work with me and I need them to bring a buyer to the table to help me close on a property.  

Is there any help on this process regarding how a buyers agent would go about closing this deal for me, contract wise. At all possible also how they would get paid from the investor on there end?

I should have meant local. Thanks

Thanks Steve!

Absolutely, they will be more than happy to take those leads off your hands. Personally I would try and exchange for an exchange depending on what they could actually help you with. I have just started to realize everyone needs helps in some aspect to help propel each other to the next stage. 

Real estate is all about creating solutions! 

Hey BP, 

After doing research and listening to previous podcast I am wondering if there is anyone that has any templates or information that can help me out in putting together a credibility package together to obtain Hard Money for a flip project I would like to start. I have never done a flip project only wholesaled some properties and looking to create more potential income from the fix and flipping side of real estate. 

I guess the main things are creating an executive summary of an investor with no actual fix and flipping experience and the best presentation to approach a lender that will like to work with me in a deal. 

I want to do this correct. I have not found in hard money lenders in my small town so this leads me to have to work with out  area lenders so I know my approach needs to be well above average to leverage my professional ability in showing I can get the job done. 

I am temporarily stomped to where I can go with this so all help is needed! Thanks in advance