First let me say that we purchased over 1,100 homes in 2009.
We negotiate then buy the short sale. That's right - we are the buyer - no worries on simultaneous closings etc - we buy it then re-sell it.
We pay the Realtor their commission at closing and the Wholesaler a profit share when re-sold.
So as a wholesaler you can call a short sale that is listed, refer it to us, and get paid.
All of our deals utilize a Realtor and a Wholesaler. Both get paid. So if you have leads of your own, or we can supply you with defaults in most areas as leads, you can get the referral and then hand the deal to a Realtor so they too can get paid.
As a new wholesaler it has never been easier to build relationships and make money while you learn your market.
A an experienced wholesaler you can see the opportunity already - sounds too good to be true I know - but it's for real. The numbers all make sense.
If this offer does not THRILL YOU - then either I typed it wrong or somehow I am not communicating this tremendous opportunity. And YES it's all FREE - this is not some guru offer - this is an investor looking to scale up their purchases
Contact me.
If you are in other states and can figure a way to virtual wholesale these deals then lets talk. The Realtor can be the local contact.
If you are a Realtor - that is great. We can get this done together - jump start your business. Now, when you are prospecting for short sale listings you can tell your prospect that you already have a buyer (of course we need to take a quick look first).
Holding, for as short a time that it requires for us to secure a new buyer and new buyer financing, then re-selling. Obviously if rules dictate the hold such as FHA then there is a hold.
We are NOT one of the short sale buyers that need nor do we use a double close.
We buy, take title, re-list with the same agent that we purchased from, and re-sell.
From 6% on your first transaction up to 15% on your 16th and 18% on your 25th.
If we make $40,000 the wholesaler gets $2,400 on their 1st transaction and then up to $6,000 on the 15th and up to a max of 18% of profits ($7,200).
Obviously if we make $60,000 then that moves to $3,600 on the first up to $10,800.
Realtor's are paid a commission at closing through escrow and then paid $1,000 to re-list. If on the re-list they have a buyer that is represented by another agent then we handle all negotiation. If on the re-list the Realtor brings a buyer they get an additional 2.5%.
The numbers are great if a wholesaler and Realtor work together.
Depending on your perspective you can analyze the earnings for the wholesaler vs. effort. We are not seeking the 1 in 100 deals that pencil out - the one home with equity or that the bank is willing to let go at a decent cost to ARV percentage.
Our target is found in abundance in the markets where we work. In many markets 1 in 10 or say 1 in 20 are in default - that's the vast size of our target market. For wholesalers who are used to juggling everything all the way down to transactional funding - this is like shooting fish in a barrel.
But it still takes effort.
We are seeking those that are willing to take action. We can help you with a plan - we just need the willing.
I changed my Avatar to Atlas Shrugged for a reason.
Newbie wholesaler here in northern California, reo and forclosure central. I have some leads on short sales. I am interested in your offer. How do we get started?
Hi JCC, I just read your post and want to help.I am fresh out of the gate.I believe I have a good grasp of the business in general.
I want to do what most other newbie's are saying and that is assign contracts,wholesaling dealing with distressed SFR's etc to create cashflow and expand from there.
As I stand here in the valley I realize there are a million ways to start out and I just need direction and I can make things happen.
I need the help of a successful local investor..not much,I don't want to waste anyone's time teaching me from the ground up..I do know a fair amount(just enough to be dangerous at this point i think ;-)..
I'm a quick learner, I live in Sherman Oaks and can devote 40 hrs(at least) a week to this.
Is it possible for me to have a listen to what you propose exactly and what would be required of me? I am READY! I'll leave it at that for now.Have a good wknd and I hope to hear from you soon.. Thank you very much,
Rod
Hi JCC,
I am a relatively new investor/wholesaler in northern CA, working full-time at it now. I run into a lot of short sale opportunities here, and your offer intrigues me greatly. I would like to learn more.
Hoping to be able to do significant business with you,
All my best,
- Ken
Hello JCC
I would like to learn more about your system, I can certainly virtually wholesale properties in the states you are interested in.How can I get involved?
Bird-dogging is illegal in Arizona. Only licensed agents can receive a fee from referring an RE transaction. The only way around it is to have an ownership stake in the purchasing and selling entity. How do you propose to keep us all out of trouble?
I appreciate your post - in response I have made this post very lengthy. Please do not take it as a post "at" you - rather your post made me feel the need to clarify the casual "setting" in which I started the thread and defined terms.
In answer to your post - We are part of an investment company that has done business for over 80 years and has been an active short sale investor in every market dating back to the 1970's. Our lawyers have determined that the structure of our organization is 100% compliant and legal in all states where we do business. We would enjoy doing business with you in that we could develop a mutually beneficial relationship where you would be able to offer full attorney based negotiating "as the buyer" and most likely profit more by doing less than for the standard fees you currently charge.
Jason.
*** The rest of this post is to clarify the casual interpretation and "setting" of this thread **
I was loose in the heading of this thread in that I was under the impression that I was free to use commonly accepted terms within the BP community rather than the more precise structure of our organization. This is consistent with the rest of the thread that gives a general overview and is far from a precise offering or solicitation. Ask anyone that has contacted me from BP and you will know the first call lasts over 45 minutes - and I do not speak slowly.
This is also consistent with the BP community as a whole where definitions and terms are very loosely structured and should never be taken from anyone as final terms, for example:
1. Non-licensed individuals that offer real estate for sale yet do not hold title.
2. Those that solicit funding and partnerships from non-accredited investors and those "not known previously" to themselves - a real SEC problem. Especially the multi-beneficiary single lien offerings.
3. Those that offer licensed services when they themselves are not licensed.
4. Those that offer financing and lending without any disclosure.
5. Those that ue others POF to put property in escrow claiming the funds are their own without disclosing the nature and terms of the funds.
The entire BP forum has a structure of free communication and networking and friendly to those from the 1st day beginner to the seasoned professional and is not a place where every disclaimer, disclosure, etc must be in place prior to posting. It was in this general "setting" that the post was made without giving each and every precise definition and structure of our organization.
I apologize that I went into such a lengthy clarification - As soon as I read Scott's post I felt the need to clarify the entire thread. In so doing I would have to remove all terms such a wholesaler, bird dog, etc - in fact I would have to remove the term "Realtor" and make it "licensed real estate agent".
So to all reading the thread - if interested contact me. We can discuss and know that this thread is neither a final offering nor final solicitation for any future relationship. Interested parties should make decisions based upon........we make no promise nor guarantee of results or actual income. The income examples given are...... It gets crazy thinking that every post should have such disclaimers.
1. We do not accept B of A nor Countrywide - that is criteria #1 for now.
2. Properties should have current market value of $100,000 - $900,000 - I would strongly suggest sticking to properties that are typical and are "moving" in your market. If there is no recent activity in the neighborhood of the subject and there are no recent comps - we will not take it.
3. If I were to suggest what to market to I would say - Properties that can be re-sold quickly. We want to take title, re-list, re-sell - not hold it for any longer than necessary.
4. For now any standard property 1-4 units, condos and townhomes are accepted.
5. Stay somewhat urban - the rural property with few comps or low surrounding activity will probably not be accepted.
May I ask why not B of A or Countrywide deal???? Is it because they don't approve shortsale that easily anymore or is it because they don't give discount as much? I am still new and want to learn.
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