BiggerPockets

Sounds like you're wholesaling.

Since no real investor will be interested on something off the MLS, it probably doesn't matter much how you get the random people you talk to in the houses, or how you try to manipulate a contract to have it deceitfully allow assignments. These things don't matter because nothing will close under these circumstances.

Find properties that aren't on the MLS, create some value, and these things will not apply.

Sam...

First find an agent who understands what youre trying to accomplish...

Second understand that the listing agent is going to have a difficult time explaining a 70 percent offer to the seller after they gave the seller a 100 % price opinion for listing values.

Third understand that the cost of MLS property from an advertising standpoint is expensive.

Fourth.... DONT GIVE UP... Just becasue your method isnt what most of us would do doesnt make it one that wont work for you... Everything will work if you do enough of it...

As for showings when I list a property I dont own on hte MLS I make showings subject to an accepted offer...

Good luck...

OK wow yes I am Wholesaling and that's my fault for not including that important detail. the thing that I'm amazed at are the outrageous reply's. first to address Jake, boy how ever are you wrong and Any "Real Investor" Would not care were the deal came from as long as it was in his target buying area, price and it being 30% and %50 below FMV. and I'm not manipulating or deceiving anyone here I'm making It well know either way that I'm wholesaling the deal but The contract I am using is very long and makes me repeat this contingency several times and makes people like you think things that ARE NOT TRUE! I am targeting distressed properties that need work and are mostly empty I'm not approaching MR. and MRS. Smith who have a lovely house and trying to scam them I'm targeting motivated sellers rarely will a homeowner occupy a house I'm offering on I ask this question because I want to be ready for whatever comes my way as a newbie wholesaler. I am an experienced Contractor/Investor. and I see you are a Real Estate Legend? nice way to encourage someone trying new things and looking for help! and Cris martin I thank you for you Ignorant rant. You would show me the door? not even close buddy. How dare you try to come at me like I'm anything less than a honest hard working person you couldn't walk 10 feet in my shoes I never deceived anyone in my life I grew up with nothing how dare i try to improve my life. Of course my Realtor knows my intensions I'm an investor as well and will buy some of the deals for my self and pass some along to investor buddies I have looking for good deals. I am not some kind of scam artist here and would appreciate a professional courtesy. treat people the way you wish to be treated! Thank you Michael and Stinson for honest reply's Its people like you who help people trying new things keep their head up. Anyone who is Knowledgeable in wholesaling and has a clue what I'm asking feel free to answer the original question I may Re post with proper wording and title Wholesalers only.

Michael,
Thanks I will keep that in mind and hopefully I'll have a deal done soon.

Sam.

Personally I have yet to have a seller take an English exam and pass it and I have bought a lot of property.

And I'm certain some couldn't pass one and I'm also certain I couldn't pass some exams.

At the end of the day I think you'll have an almost impossible time accomplishing the task of wholesaling MLS properties. However you didn't ask that question.

Do keep your head up. These objections are a great test of persistence and personal worth value.

Good hunting

PS. When I buy I don't look at ARV

Sam,
I tried to wholesale for 8 months before I closed my first deals it was a short sale off the MLS! It is not impossible and I will say that good deals are not found they are created depending on the offer that gets excepted. If a house is sitting on the MLS and it gets no bites it doesn't mean it's bad and just means know one sees the potential you see. I will say if you are trying to wholesale house with families in them then your are going the wrong route. You should really be working with empty homes that are easy to show wholesaling is not about MLS houses it really defeats the purpose of the business. It can be done but it will be a headache trying.

Oh and I really don't think grammar matters in an email.
It's all about the numbers not the spelling! That's ridiculous he not selling million dollar houses to Harvard graduates.

Grammar is one of the main items one should mimic when making a presentation. Passing judgement as to the intelligence of the prospect is the least. I've bought homes, at huge discounts, from convicts to judges. Our job is to buy housing. It's not to ridicule or belittle a prospect and certainly if we dismiss an opportunity based upon commas, periods, and "e before i" who is the one showing a lack of intelligence?

Real estate investing is and most certly must be blind of discriminations. It's the purest profession. It isn't based on weight, sex, religion, color, formal education or age. It's only requirement is desire.

Michael,

I'm not passing judgment on a prospect. A prospect could potentially sell me a house. This guy couldn't, because he doesn't have anything compelling to sell. This is a time saver for me- sometimes I'll be wrong, but more often I'll be right. I never said anyone else had to use the same shortcut.

I'm not limiting myself to any one strategy. I have bandit signs up started direct mailing and have a Realtor helping me tap into the MLS. thanks for the comments but there is no need to explain anything thing to Jake he is checking people's spelling in forums laughable. I mean I'm not writing an essay here its a chat in a forum he may have OCD. Reality is going to smack him in the face one day. whats funny is he believes he understands wholesaling and the properly spelled crap hes talking about is meaningless. imagine conducting business only dealing with people you like or that are like you. this world has so many different types of people that we can learn so many things from. its amazing how someone so "smart" can be so stupid and shallow. I have bought and sold real estate I also have rentals not bad for a guy who cant spell. I do thank you Scott And Michael. you're right The only qualification is the desire to do it and I have that I'm a humble person and I'm not afraid to sound stupid or ask questions to get to the next level.

Sam, this is a people business and this is a forum with people having many different opinions. Though I understand your reaction to some of the comments, to lash back out at individuals who don't think your approach is good is not going to help. You're getting all stirred up and then attacking them. No matter how much you think you are justified in doing so, you are lowering yourself to a "street level" communication that is not going to help you gain advice.

One time another BP guy made a comment that shook me up. I e-mailed him and discussed it there. I did not feel that a public forum was the place to exchange feelings. He appreciated that gesture.

All in all, it appears that the group is telling you that the MLS approach is a difficult one, yet not without possibilities. I would suggest focusing on the subject matter and not getting so personal with anyone - even if you feel that they were to you. Take the high road; this is a people business.