myhousedeals.com

17 Replies

I just received an email from myhousedeals.com, a wholesaling website. The deals listed look fantastic.

Is anyone familiar with this website? Seems too good to be true.

Any info would be greatly appreciated.

I don't know about all the deals on that site, but I can tell you that whoever owns or works at that site is on my buyer's list. So every time I send out one of our deals they automatically listed it on their site. I'm going to assume they do that with multiple other wholesalers in various areas.  Note....I never gave them permission to post my deals....but the exposure has been good so I let them keep doing it. 

They have no "deals", all overpriced garbage from wholesalers.  As an agent, the best use for the site would be to contact the actual owners, who think they have actually "sold" their properties, then sell their properties for them as an agent.

myhousedeals.com operates in several cites/states. One aspect of this site is that is a place where wholesalers can list their properties.  The so-called quality of the deal is purely based on the facts that the wholesalers posts.  I just recently sold (assigned) 3 of my wholesale deals on this site, & the buyers didn't complain.

The website offers other services such as vendor contacts, private money investors. The premium/paid part is for those individuals that want access to the information immediately or in this case wholesale property deals. With a free account, users get email alerts of available deals after several weeks I believe.

@Wayne Brooks I myself don't lie to the owners of the properties that I have a contract with, that I have bought their property. I explain to them what I do. They know that I will be assigning their property to another investor. In the words of my last homeowner, "Oh, you are just the middleman, that's cool!"

@Steven P Fritz@Kuba F. @Jim Tannehill  From a cash buyer prospective, it's no difference than being on a wholesalers Buyer's list. As properties get posted, you get an email. I hope this was helpful.

@Sean Cole  Not quite.  Tortious interference would only possibly apply if you got them to cancel/default on their contract, and even if you did, you'd probably win in court, assuming a wholesaler would take it that far, as in Ohio and Fl most of these wholesaler transactions would be violating state licensing laws anyway.  No realtor code of ethics violation, you wouldn't be trying to take a listing away from another agent.

@Wayne Brooks ,

Regardless of your personal opinion of wholesalers, there *IS* a contract in place. Attempting to interfere with that would place your licensure in jeopardy and could damage your reputation as a professional.

Protect your livelihood - let people make their own mistakes and stay out of it.

@David Dachtera I never suggested trying to get the owner to cancel a contract, even though advising an owner about the probable "realities" of their contract wouldn't expose one to risk.  My suggestion was advising the owner of the probabilities, then offer to list it if the contract fell through.  I never did it, but thought about it.  BTW, I was threatened with a tortious interference suit.....a group of scammers got hundreds of upside down south Florida owners to QCD their titles over to them, claiming they could void their mtg.s thru a QT action, misrepresenting the statutes involving mtg.s registered with MERS, of which I sent out about a hundred letters to the homeowners letting them know of the fraud.....I of course responded back to the scammers with an FU letter.  They were  shut down by the state AG (no credit to me), assets seized, and of course I never heard from them again.

Originally posted by @David Bokman :

I don't know about all the deals on that site, but I can tell you that whoever owns or works at that site is on my buyer's list. So every time I send out one of our deals they automatically listed it on their site. I'm going to assume they do that with multiple other wholesalers in various areas.  Note....I never gave them permission to post my deals....but the exposure has been good so I let them keep doing it. 

 They are supposed to check with wholesalers before posting people's deals—are you sure you never talked to anyone, even if it was several years ago? Some people prefer to post their own deals, but they will post for any wholesaler who wants it to happen automatically

We actually just purchased our first profit off the site. So far so good and based the comps that I have personally rab on the property I purchased everything seems to be in line. We should be done with our rehab by the end of this week.

And the best part, he Property appraised higher!!!!

After awhile I decided to check if there's been any dialogue on the subject matter and ran across this post. I'm in the northern suburbs (Lake County) of Chicago. I use the free membership and I'm thinking of upgrading to premium, but I'm trying to see more results for my immediate area. Lake county has many towns and I'm yet to find any deals on this site.

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