Comments on: House #14: Officially Ours http://www.123flip.com/house-14-officially-ours Education for the Serious House Flipper Fri, 10 Feb 2012 04:32:24 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: J Scott http://www.123flip.com/house-14-officially-ours/comment-page-1#comment-3074 J Scott Fri, 22 Jan 2010 22:05:00 +0000 http://www.123flip.com/?p=1746#comment-3074 Hey Jennifer - If you were a real estate agent, I might take you up on that. The company name isn't an issue...we can just use a DBA, and nobody will know it's our company. The bigger issue that they probably wouldn't want to deal with my wife as the agent on our side...so we'll have to have another agent put the offer in... Between using another agent and using a different company name as the buyer, we should be okay... :) Hey Jennifer -

If you were a real estate agent, I might take you up on that. The company name isn’t an issue…we can just use a DBA, and nobody will know it’s our company.

The bigger issue that they probably wouldn’t want to deal with my wife as the agent on our side…so we’ll have to have another agent put the offer in…

Between using another agent and using a different company name as the buyer, we should be okay… :)

]]> By: Jennifer Minge http://www.123flip.com/house-14-officially-ours/comment-page-1#comment-3070 Jennifer Minge Fri, 22 Jan 2010 21:46:46 +0000 http://www.123flip.com/?p=1746#comment-3070 Jason, I would be willing to step up to the plate and be the 51% partner in a new LLC to help you purchase future properties in exchange for a small percentage of the profit! I just want you to know I got your back and would be willing to take one for the team ... for a small fee or all the margaritas I can drink! Jennifer Jason,
I would be willing to step up to the plate and be the 51% partner in a new LLC to help you purchase future properties in exchange for a small percentage of the profit! I just want you to know I got your back and would be willing to take one for the team … for a small fee or all the margaritas I can drink!
Jennifer

]]> By: J Scott http://www.123flip.com/house-14-officially-ours/comment-page-1#comment-3068 J Scott Fri, 22 Jan 2010 00:30:46 +0000 http://www.123flip.com/?p=1746#comment-3068 Hey Jingle - As to your question about whether we'll reconsider our use of high deposits, we definitely will when it comes to Fannie Mae properties, as their contracts are completely one-sided, and once you're under contract, there's no getting out of it (at least not without a lawsuit). So, in the future, when putting Fannie Mae properties under contract, we'll definitely go a little bit lighter on the earnest money. Hey Jingle -

As to your question about whether we’ll reconsider our use of high deposits, we definitely will when it comes to Fannie Mae properties, as their contracts are completely one-sided, and once you’re under contract, there’s no getting out of it (at least not without a lawsuit). So, in the future, when putting Fannie Mae properties under contract, we’ll definitely go a little bit lighter on the earnest money.

]]> By: Jingle http://www.123flip.com/house-14-officially-ours/comment-page-1#comment-3062 Jingle Thu, 21 Jan 2010 15:06:18 +0000 http://www.123flip.com/?p=1746#comment-3062 J Scott, It happens. I have a major REO realtor in our area who screwed himself, the Bank, (Citi) and most of all me, out of my higher offer because he was mad at me for enforcing a $100 error on a HUD statement on a prior deal. He simply refused to submit my offer, which turns out, was $3500 higher in a last/best situation. I responded by filing a complaint with the Real Estate commission. (Who knows what will happen, but I doubt much) I now use an alternate LLC to deal with this company. My nephew gets a kick out of being a general partner and the % I give him for my $100 past battle........ Will you reconsider your use of high deposits? Jingle J Scott, It happens. I have a major REO realtor in our area who screwed himself, the Bank, (Citi) and most of all me, out of my higher offer because he was mad at me for enforcing a $100 error on a HUD statement on a prior deal. He simply refused to submit my offer, which turns out, was $3500 higher in a last/best situation. I responded by filing a complaint with the Real Estate commission. (Who knows what will happen, but I doubt much) I now use an alternate LLC to deal with this company. My nephew gets a kick out of being a general partner and the % I give him for my $100 past battle…….. Will you reconsider your use of high deposits?

Jingle

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