My first wholesale call back was from a REAL ESTATE LAWYER

My first wholesale call back was from a REAL ESTATE LAWYER

Binghamton, NY · Member since 2018 · 1 post · 1 vote

I just started learning about wholesaling maybe 3 weeks ago. I studied it like crazy and finally felt confident to put a direct mail campaign together. I found addresses of tax delinquencies in the area and mailed my letters out. I was so excited to receive a phone call and email from someone. The email I received was strange as though the person was trying to ask me a trick question, so I looked him up. Turns out he's a real estate lawyer. 

Although wholesaling is not illegal where I live, and in no way was I shady or hiding anything in my letter; Just basically "We Buy Houses, I have investors who want to buy your house, cash, AS-IS, at a fair price." I was still feeling unprepared for the questions he might've asked. Especially when not too many people are aware of what wholesaling even is. Moral of the story and a follow up question: I got a good laugh out of it as a newbie, that my first letter was sent to a real estate lawyer. I decided not to do business with him as he clearly is not a motivated seller and I'd rather not waste my time. Am I wrong for calling it quits early with this guy?

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Bel Air, CA · Member since 2017 · 165 posts · 47 votes
8y

A RE attorney delinquent in property taxes? KEEPER! 

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  • Attorney, CPA, Broker & Author · Scottsdale, AZ · Member since 2018 · 532 posts · 488 votes
    8y

    @Monet Chizmar  I believe in following your instincts. If your instincts said you should walk away, then that was the right thing to do. If you let him walk out the door, you're creating room for someone else (who is better) to come walking in.

  • Houston, TX · Member since 2017 · 1 post · 0 votes
    8y

    Do you think he might be contacting you so that he could be your point of contact for legal advice?

    I'm new to this as well and not sure what is deemed "shady" or not. 

  • Member since 2018 · 1 post · 0 votes
    8y

    remember this is a very legal business and he of all people would know all the ins and outs and rules and regulations and hopefully he was not vetting you out.

  • Bel Air, CA · Member since 2017 · 165 posts · 47 votes
    8y

    A RE attorney delinquent in property taxes? KEEPER! 

  • Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
    8y

    You are doing what follows your instincts. He is also doing the right thing by disclosing he is an attorney.   That is another reason sometime you need a realtor/broker or RE attorney representing you. All these years when I have one of these offers my liability is limited to 25K, you pay this I don't pay that.  We politely decline the offer without any counter offer.


  • Flipper/Rehabber · Sacramento, CA · Member since 2016 · 807 posts · 815 votes
    8y

    Don't ever worry this much about a single prospect (not even a lead). Just take him off your list and move on, unless he actually wants to sell. Lawyers are humans with problems too! What was this "trick question" he asked you anyway?

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y
    Originally posted by @Stanley Bronstein:

    @Monet Chizmar  I believe in following your instincts. If your instincts said you should walk away, then that was the right thing to do. If you let him walk out the door, you're creating room for someone else (who is better) to come walking in.

     wow been around the block but I don't think i have seen someone with your creds.. I hope you find BP a nice place to contribute to .

    I am sure many could use your expertise

  • Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    8y

    What makes wholesaling legal/illegal that you determine it is legal in your area? Do you plan to advertise the house or the contract? Just curious.

  • Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
    8y
    Originally posted by @Jay Hinrichs:
    Originally posted by @Stanley Bronstein:

    @Monet Chizmar  I believe in following your instincts. If your instincts said you should walk away, then that was the right thing to do. If you let him walk out the door, you're creating room for someone else (who is better) to come walking in.

     wow been around the block but I don't think i have seen someone with your creds.. I hope you find BP a nice place to contribute to .

    I am sure many could use your expertise

    Never know who you may have talked to that simply didn’t paste all their credentials.  

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