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Updated over 11 years ago on . Most recent reply

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Kay H.
  • chicago , IL
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Do you have to lie to wholesale?

Kay H.
  • chicago , IL
Posted

hi,

I'm a newbie. Also a Christian so I feel a little twinge if I have to lie. In my experience working my first deal, it seems you have to tell the following lies:

1. I'm buying the property

2. My contractors (not the investors) are coming by to check out the place.

3. Title is free and clear. Just a small water bill

Is there anyway for a person who likes to tell the truth to do this and still make money?

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Don Konipol
#1 Innovative Strategies Contributor
  • Lender
  • The Woodlands, TX
9,182
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Don Konipol
#1 Innovative Strategies Contributor
  • Lender
  • The Woodlands, TX
Replied

"I also thing it is important to be honest and upfront with people. Says "hey, I am buying your house, but I need to make money. I plan on eventually selling it. It may not be the right house for my portfolio, but I know some people it may work for." If you find phrases like that, you're not lying and you are prepping them for an assignment of contract."

If you never intend to purchase the house yourself, then the above is still a lie. I suggest telling the absolute truth; if your business model does not work when or because you are truthful, then find a different business model.

  • Don Konipol
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Private Mortgage Financing Partners, LLC

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