Newby With Hypothetical Situation
Regarding wholesaling, am I correct to assume that a perfect deal would one with a motivated seller, who also fully owns the home, as in no banks involved? The reason I ask is that more than likely ll situations will have hurdles involved such as the seller still owing on the house. When this is the situation, is it the sellers bank that determines where the closing takes place? If so, the attorney or title company, whichever the case may be, may or may not be keen to assigning or double closings. How do you plan ahead for such likely scenarios so that you can play through these minor bumps in the road? In these cases if the title company is against assigning or double closings, the deal is dead - at least this is my reasoning at this early stage in learning. Any help is appreciated. Thanks everyone! ~Ben
I agree with you...You are in a wrong section dude
Beginners Section is the best for the beginners like us.
Ben,
Actually it also depends on if you personally have a bank or a hard money lender that is financing your situation. Not just the owner owning the property full out.
The issue is banks are going to want to verify the asset ( the property ) and verify you paying it back.
Hopefully this helps you out.
Look, listen, learn, tons of info here.
I heard the Douglas, CO area is on fire with deals.
If you are experienced in construction that doing the investment seems pretty good combination.
Another thing that came to mind would be to locate local investors that are doing business with you already.
Perhaps they can help you start your investing career as well.
You always have to take risk in any business.
But if the Market prices are low, So you can invest yet.
But always hope for the best before starting a new work or a project.
[quote]On 2012-03-08 13:30, bogert wrote:
You always have to take risk in any business.
But if the Market prices are low, So you can invest yet.
But always hope for the best before starting a new work or a project.[/quote]
Yes, any business does have its own risks. But if you do proper research on a property before buying it, you will do good. Always make sure of the neighbourhood since it is the one aspect in property investment that you can control. Rather pay that few extra dollars for a small property in a good neighbourhood than less for a bigger property in a not-so-good neighbourhood.
[ Edited by AJ2012 on Date 06/13/2012 ]
[ Edited by AJ2012 on Date 06/13/2012 ][IMG]null[/IMG][ Edited by AJ2012 on Date 06/13/2012 ]
Easiest way to put it: location, price, and condition. If location is right, the other too can be changed to make it a good to great deal, whether a buyer or seller...