Question by Jason C: How does choosing a title company work for wholesaling houses?
Basically when I get a seller under contract. Who chooses the title company? If I do, do I just choose any one I want? And when I do, what do I tell them?

My step by step to get here.

Found a seller, made an offer, got them under contract, and will be assigning the contract to an investor.

Thanks in advance, if you are a wholesaler and willing to help me out a bit I would appreciate it it. You can reach me on yahoo messenger under this name or jrcummins at gmail dot com

Best answer:

Answer by DJ B
Typically the listing agent would set up the title work to be done for the seller. But I believe that the buyer picks the closing company. So two title companies could be involved.

What do you think? Answer below!

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Question by Curious: how can one get into commercial real estate investing?
how much money does one need to start?
is it easy?
do u need a college degree?
how much money can you expect to make in the first year?
how much money can you expect to make after that?

Best answer:

Answer by Joe_know_it_all
I take it you mean a commericial real estate business. you can invest in commercial real estate through securities (REIT’s) Real Estate Investment Trusts. They can yield you 25-30% return in good years.. others can be -15%.

If your looking to start a business, you best be very smart and have a degree in finance, enteurpeurship or other business oriented degree to crunch the numbers. You will need to buy a mortgage in order to buy the your first piece of real estate.. this best be done after extensive community research and study to the area, demographics, and how hard it would be to maintain clients in the lease area. The hard ecomony is going to put some small companies in hardships and your mortgage is going to be expensive.

Here is an example

You buy a 12,000 sq ft building with 10 lease lots for 0,000. each lot can be leased per month for 1,200 dollars. Say you leased 8 of the 10 units. You would bring in 9,600 dollars a month.. Now time to pay the morgage, if you put decent money down 50K or more, you could get a lower interest rate at lets say 5%. This would be very low for the estimate and the monthly mortgage payment would be ,000 per month for the next 15 years, abolute bare minimum.. and probably the most your commerical building would yield would be 80%-90% leased out. Some building can fall to 20-30% full.. that would yield you 3,600 dollar a month and barely paying your mortgage. We havent even calculated taxes into this mess which will whipe out about 1/3 of your income. The point is, it is not easy to run, not easy to estimate and takes alot of work and advertising just to lease. Best pick a very high trafficed area or have leasees that are long term and will lease for years and years to come.

but if business is good, and you remain full leased for 15 years you will get paid off.. Even after 1 year of full leasing you could yield. 6k a month for a year or ,000 before taxes. You also havent paid maintence, other employees, etc. Not an easy business to get into, especially now a days with mortgages being stingy and real estate still being 10-20% overpriced. LOCATION, LOCATION, LOCATION.

PS i own a commerical real estate company. only i started 35 years ago.

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