So Im a Commercial and residential real estate agent in Miami but wanna get into whole selling. I have a friend who is a Wealth Manager and he just called me last week and told me he has a client wanting to sell his two aptments in Alaska. I know nothing about Alaska never been there, so I got on Realtoer .com and Spoken appraiser website found the values and saw one unit was for 65-75k and the other 90-100k. This guy is willing to dump them for 45k a piece or less. That leaves a whole bunch of margin for the flipper. I wanna whole sell them and think I can make 10-15 k on each unit. Your thoughts HELLLLLP !! I think I can pull this one off.
Hey Milo, wholesaling houses in Alaska from 4,000 miles sounds great and I’m not saying it cant be done, but there has to be some serious demand for housing and some cash buyers, or maybe someone that can qualify for a loan. These conditions usually exist in larger towns and cities.
Reminds me of when I got a few houses at ridiculously low prices in Detroit and Dayton, I cudnt give the darn things away.
But then, get these houses locked up on contract and then do some serious marketing, I’ll bet there are dozens of people thinking of moving to Alaska. Place ads on Craig’s List in the larger cities.
After all, There is no risk if you didn’t put down a big earnest deposit.
I say go for it.
Does it help that it is in Anchorage? That seems to be the highest populated area in Alaska. I put it up on Craigslist and have had two cash Buyers already asking for more info. Im guessing I need a real estate contract for the state of Alaska and need to speak with a title company? Where can I go to get step by step instructions to close this thing. Property is a 1/1 apartment in Anchorage Alaska . I can probably get it for 35-40k resell it for 60-65k on a wholesale. Retail apt units in this complex are selling for 75-85k.
What kinda of contract do you use? As-Is Contract ? I hear very simple contracts. In Miami our contracts get very complicated . Do I need to use an Alaska State Contract?
I use a simple 2 page contract, called a Real Estate Purchase and Sales Agreement.
I believe it wud work fine in Alaska. If you email me I will send it to ya, and also the assignment of contract you will need with ur buyer. Your buyer may have a good Title company already.
All Right Dude, I’m excited for you.
1 Email Purchase Agreement to seller, Have them print, sign, scan and email it back to you.
2 Email Assignment of Contract to buyer stating the amount you are making. Have him print, sign, scan and email it back.
3 Email or Fax the signed docs to buyer and or Title company and start Escrow.
4 Wait for the payday and in the meantime find more deals.
It’s a simple process, probably a lot simpler than doing your Realtor thing.
If you could PM me i will provide you with my email. I explained the whole sale process to the Owner he was good with getting his 45k and me shopping the market for Buyers at 65-75k. Ive stalled for 3 weeks but just got in contact with the Owner last Friday. He is waiting for a contract. Im nervous I may do something wrong. I spoke with some RE agents and they love my price at 75k and think they can find a buyer quick .I would take care of the agent if they brought a Buyer . Your thoughts I need contract first . I bought a 2 page verrrrrrrrry easy contract from Rocket Lawyer but it seems very generic . Send me what you have!!