Marcus Maloney on July 8, 2016 5:24 pm Mortgages & Loans Purchase and Sale Agreement Na Conran on June 19, 2016 9:19 pm 2M ago35:41 Email Marketing I would ask why you are still an agent if you feel that way as well. I know many agents who make a very good living Hey Markus, great article, Business Tools Fred Financing Properties (131) Damond Stewart on March 3, 2015 3:27 am You're not planning to buy their property yourself. August 11, 2015 at 3:31 am 8787 Branch Ave #245 Food delivery from Marcus Maloney on January 4, 2017 3:46 pm Christina Shackleton on May 16, 2016 4:08 am Blank Notebooks Recent The identical was the situation for Office 360 service Hi Toi, Glossary Stanci March on September 24, 2016 11:03 am My goodness, this has been such wealth of information. I first want to thank everyone for their contributions. I hope there are still some people out there, especially Marcus. I will briefly explain and ask some questions ,if you all don’t mind. I am starting over. Previously my career has been in chemistry and beauty but a while back I did work as a bird dog for a friend. It was fun and I enjoyed it. Recently, I overcame a huge health battle and hit a big birthday all at the same time. It made me think. I’m not moving fast enough. I’m not providing the life I should/could for my children and I. About 15 years ago, I was invited to view a mobile home in Ontario, Ca. It was enormous and simply gorgeous. As a teen a good friend of mines lived in one in Mentone, right outside where I grew up in Redlands,Ca. Point being, I REALLY like them and would like to purchase one. I can also see it as possibly being a path to start investing. I would like to find distressed FSBO properties in a low cost area(Los Angeles Mobile Parks are gouging their poor residents) and purchase and either flip or hold as an income property. But I’m getting way ahead of myself. I just wanted to give you an idea of where my head is at for this. I would like to start as a wholesaler in mobile homes. I can see how this concept can be applied. So my questions are as follows…It seems that the legal ramifications come if you are doing this frequently or in bulks. For example, If you have a deal for like 5 homes at one time, or if you are doing 5-10 deals a month. Does this sound about right? (what makes this different than if my neighbor is selling their house, I tell them my aunt in another city is moving and would buy the house, I just act as the go between. This is a one time deal and they gave me a bit of money for my time and travel?) I am truly fresh out the gate so I would only want to do at most 2-3 deals a month. That would be insane right now, lol. How do you receive payment? I tried working this out a million different ways but the best I could work out was as follows…I make an EMD with seller(contract), contact buyer from list, sell(contract) new buyer(collect payment to me as seller)close/transfer?,cash(remove my payment), contact, pay and close with original seller, collect my EDM back. Does this sound right? Also do you use the title company on the property, a third party, an attorney, or broker for holding EDM, contracts, closing? I am starting very small so I’m looking for a cost efficient solution. Have any of you worked with mobile homes in California, either flipping, rehabbing selling, anything? I am sorry for asking so many questions but I am anxious to get started but I can’t afford to make any more foolish decisions. I have done a lot of reading through the forums, taken notes, downloaded forms/contracts, made mock calls, I’ll be starting my website and social tomorrow, just flipping around names. I’ve even dry run through the ads and found homes that would be great deals. I calculated ARV, got reports for around those areas. Made repair assessments based on Lowes and Home depot(what I could guess). I then found a realtor in that area that I want to talk to. But I feel like I’m back in high school, trying to call a crush. Every time I pick up the phone, just to tell him who I am, what I want to do, and if he would like to meet to see my assessments and discuss further opportunities, I choke. Like literally, I get knots in my throat and my heart starts pounding. How do I get over the first hump? Thank you all for helping. We make investing simple Can I still order your course or when will you offer it again? Buy, Own, Cash Flow A Million Sunday 3 Fundamental Seller-Call Principles William Bronchick Real Estate Investing Advice from Bill Bronchick We have many opportunities for real estate investors, please contact us for more information or go to our website, Phone: 4242378844 Quite the opposite…. the contract was at one price but the end buyer will buy for another price…how would you go about getting the seller to terminate the first contract and aggree to the one your username Fantasy Books If you did the memorandum, it would be a separate document in addition to your Purchase and Sale Agreement. You would also have to get it notarized in order for it to be recorded (it’s kind of a hassle, which is why some don’t bother with it). You would typically take it to the county yourself, or mail it to the County Recorder along with a check to pay for the recording fee. Again, if you do go through these options, it will cloud the title for however long the date range is listed on the memorandum. i.e. – if the memorandum states that the Purchase and Sale Agreement expires on X date (6 months from today), that cloud will stay on the title for 6 months. Now, because you’re a real estate agent, you will most likely have to disclose in writing on the contract that you are a real estate agent.  You might also have to put that on your marketing as well, but that will be up to your broker. Learn more > HOME Buy One of the benefits of this option is that you can track statistics online to review an investment’s earnings history information. You can also manage your investment online, and you will get a summary with year-end tax information as well. "When you advertise a rental property, it's important to let people know it won't stay vacant for long 😎 https://t.co/MYtd37kj3L " Loading more content So what are the real benefits of this real estate investment strategy? How do you do it? What resources can come in handy? What do the successful do differently? Great tips. You have explained everything regarding real estate in such a simple way. Thanks for sharing! 2.0 out of 5 starsIt's not good material. The chapters are short You chose an investor friendly title company that will conduct the closing to keep all parties satisfied. Since there were assignment clauses in both contracts, the wholesaler will generally not transfer the property into his name. This person, usually an investor, will put the property in his name, or more likely his company’s name. This is a way to avoid paying transfer taxes on two separate transactions. He pays the bank about €2,450 per month. Less than 25% of that is interest. Pillar Post (4) The Wholesale Profit (how much the wholesaler wants to make) Is That Investment Property All That It Appears To Be? Dan Holden THINK SOCIAL kenneth Drysdale on February 4, 2015 8:33 am Find Us Keep in mind, this is just one common way that wholesale deals are put together, and there are many other possible ways to structure a deal. check_circle Post Your Real Estate Deal If there’s one thing holding back the novice real estate wholesaler, it’s that they simply don’t make enough offers. You’ll never know (in advance) which offers will be accepted, and which won’t, so it’s imperative you spend a good portion of your time, making more/better offers than you are currently. This means: Hey Matt! Yes, I have done this kind of thing in-house before, but honestly, it’s a big logistical challenge (even for a simple deal, with cash, where everyone was in the same county). It requires a bit of “trust” on everyone’s part, which isn’t necessarily the best way to run a real estate closing, and it’s a lot more stress than I like to deal with – so even though it’s possible, I don’t typically recommend this. Like Thank you for this information about how to make money in real estate. It is interesting to learn about all of the different things that can be invested in. I did not know that industrial properties could be successful investments. I think that it would be best to start with simple buys and work up. Ask the Community 60.) Real Estate Attorney – A lawyer who helps the investor stay protected and within the confines of the law. MENU Show navigation FXStreet 6M ago35:46 Exam Prep Quizzer Thanks Bhavna, Real Estate Books Drake Bigley says: See ya at the top! Public Finance Law Kyle Zaylor on September 21, 2012 10:15 am 12:23 Technology and E-Commerce Forecast Poll Q1. What $$ dollar amount is considered significantly below market value for houses and what is the highest value to deal with for Contract Assignments? Realtor.com® Real Estate Reading, absorbing, absorbing, reading…..I am the newbie sponge that really appreciates all that the experienced share. Thanks a lot! October 31, 2016 at 4:01 pm Third, look at every property as a revenue property. If you are starting out look for a place that can be rented out to as many tenants as possible with the minimum amount of renovation. Even though I renovate and turn houses into duplexes etc for a living I am essentially lazy and like doing as little as possible. Pulling permits for work sucks so less is better. If you are going to live in it make sure that there is a separate basement entrance so it can be suited. There is more to it then that but you get the idea. Step 4: Assign the Wholesale Property Definition of Terms Digression: The term “wholesaling” is relatively new in creative real estate investing circles. Originally, anytime you resold a property immediately, or even quickly, it was called flipping. However, a few unscrupulous investors gave “flipping” a bad name so creative real estate professionals coined the phrase “wholesaling” to distance themselves from the negative connotation of flipping. Then came along some popular television shows which brought the word flipping back to the mainstream. So now, flipping refers to buying, fixing it up and then re-selling a property, whereas wholesaling refers to re-selling a property immediately without buying it or fixing it up first. Now back to what they don’t tell you about wholesaling… LEARN HOW I INCREASED MY NET WORTH BY $600,000 IN THREE YEARS WITH RENTAL PROPERTIES WITH THIS FREE REPORT. Danny Johnson on March 17, 2014 at 9:13 am -Jim DeFrayne Related: The Top 6 Ways Wholesalers NEED to Change How They Do Business (According to a Wholesaler) wholesale real estate flyers|wholesale real estate rental properties wholesale real estate flyers|wholesale real estate laws wholesale real estate flyers|wholesale real estate legal
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