Updated about 10 years ago on . Most recent reply
My mentor offers my first deal
so, some people I attend church with told me last year they were investors. I shared I wanted the same , so they let me use their real estate book. Last week, they offered to wholesale to me my first deal.
Question: do I need a real estate agent?
Facts: they have a contract with the seller, there is a tenant scheduled to move out Dec 4th, the sellers agent still has the sign in the yard and I can't see the property without proof of funds. I will be using hard money! I need comps and other info, should I get an agent?
Lastly, why would I ever need an agent to buy from a whole seller or anyone?
Most Popular Reply
Why would someone you just met hand you a deal that makes $20K in one year after paying hard money for one year? This deal has me worried. Please look at it carefully and if you can find someone from BP in your area not connected to this deal to give you a second opinion. It may be a good deal, but I have some concerns. You also need to make sure it cash flows during the one year or you could end up in the hole a fair bit before selling.