Comments on: Real Estate Investing Training Video – How To Wholesale Houses Part 2

By: bubbafatz

bubbafatz — Wed, 31 Mar 2010 01:14:25 +0000

Hi, makes alot of sense and well explained. It answers alot of the questions I had. It does seem that there is alot of work to be done, from finding the property, turning detective to contact the owner, seeing if they want to sell, then trying to get a very low price (50% off in your example) then title check, finding your buyer. It sounds like it would take weeks todo.ï»¿ But very little risk, I like that part. Thanks for sharing. Appreciated.

By: kyotic77

kyotic77 — Wed, 31 Mar 2010 00:34:49 +0000

Howï»¿ can i aquire an LLC and how do you put it together quickly

By: localmentor

localmentor — Wed, 31 Mar 2010 00:23:46 +0000

LLC = Limitedï»¿ Liability Company

By: localmentor

localmentor — Tue, 30 Mar 2010 23:53:16 +0000

If they owe more than it’sï»¿ worth (synonymous with negative equity) your only option to help them is to short sale it (get the lender to accept less than what owed to avoid foreclosing and liquidating the house themselves). Ideally this is the lesser of many evils the seller faces. It will ideally stop them from going to foreclosure and help their credit recover quicker, however many lenders still won’t give them a loan within 3 years (same as foreclosure) for another house.

By: kyotic77

kyotic77 — Tue, 30 Mar 2010 23:02:40 +0000

I got a whole lot of foreclosed properties, and some buyers. My question is, what if theï»¿ owner(in a pre-foreclosure) owe more than whats the house i worth? also, what if their equity is also in the negative? whats an LLC?

By: DOOCLINKUS

DOOCLINKUS — Tue, 30 Mar 2010 22:55:50 +0000

Great information. It’s refreshing to find a real estate investor who actuallyï»¿ explains the process.

By: 90260

90260 — Tue, 30 Mar 2010 22:47:11 +0000

Do you recomend 5ï»¿ Books for me to buy and read in Order for me to get started?

By: localmentor

localmentor — Tue, 30 Mar 2010 21:52:18 +0000

no.ï»¿

By: 90260

90260 — Tue, 30 Mar 2010 21:42:02 +0000

do i have to haveï»¿ a real estate licene to do this?

By: wealthinvestor80

wealthinvestor80 — Tue, 30 Mar 2010 20:49:30 +0000

Question? Can you please explain how the Earnest Money Deposit works on both ends do I give it to the title company? (Great info it keeps meï»¿ going!)