Has anyone wholesaled multi units of 5fam or better?
I am being told that you need a big DP with the POF.
I have found a few on the MLS and know people interested in 5 or better units. But i dont know if i can lock them up for wholesale. Should i try Bird dogging them to the end buyer?
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You should be able to make your offer, and put in the contract that says you will provide the earnest money in a certain amount of time, then collect at least that much up front from the person you plan to wholesale too, and use that money you just got from the investor as the earnest...
Cause if you are going to wholesale it, you don't need the down payment(dp im assuming meant down payment)
Also have in the contract something about getting financing in a certain amount of time that way you have an out in there just incase...
As for the proof of funds so they will take you seriously, print one out from coastal-funding...
It is the same thing as if you were to wholesale single family...
Hope all of this makes sense...I know what I am trying to say, but not as good at writing it...
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***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
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Thanks Mark, I get what your saying.
Obviously, I haven't done that, but personally, I don't see why it would be any different than single family properties...And from what I gather through this site, and just personally, it should be the same...Hopefully somebody will jump in who have done this though...
~TAKE ACTION AND THINGS WILL HAPPEN~
***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~
Well If I dont hear from someone with experience on this I may try to B.DOG IT.
nothing wrong with that at all...Good things can always come out of that too...Let me know how it turns out
~TAKE ACTION AND THINGS WILL HAPPEN~
***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~