My First Try... Wisky Tango Fox trott?

Question

As a newbie wholesaler, I'm doing a little driving for dollars.  saw a nice house SFH  3/2  Large fenced back yard  nice neighborhood  comps are around 150k  (not bad for this area of Texas)  in the yard is a big FSBO sign. so I called to get more info. I got a realty company!  Has this happened to anyone else?  is this common?

Micah Copeland · Answer

@Jim Means

I pursue every lead I get until I get a NO.. So I don't see why you shouldn't pursue it. Just be creative.. tell the realtor what you need to make it a deal and what you will be able to pay him out of it. Or structure it where the fee comes out of the sellers side.

Jay Hinrichs · Answer

some states that would be a very big violation to the point were they could lose their license

Salvatore Lentini · Answer

Wow...what will they do next....Post their deals in the "Real Estate - By Owner" section of Craigslist?  (just poking fun)

@Jim Means you will come across all sorts of... (to use a kind word) "weird" stuff in this interesting world of real estate!  One of the biggest things I've learned that has helped accelerate my portfolio growth is..... it's a numbers game.  Don't try to turn every potential opportunity into something.  When an opportunity pops up, investigate it and if doesn't seem like it's going to work, move on.  Don't waste your time on a dead end when you could be focusing on the next opportunity.  After you get a few deals under your belt you'll start to recognize the difference between "properties that are for sale" and "properties that NEED to be sold".  Keep plugging away.  Talk to sellers, talk to Realtors, email sellers on Craigslist, get on other wholesaler's email lists, join your local RE group.... the more time you spend talking real estate the more likely you are to get a deal.  Sometimes they come out of the blue from someone or something you did months or even years ago.  Lay the groundwork and it will pay off in spades.  The first one is the hardest :)

Brian Gibbons · Answer

Oh my God you got tricked by an agent!

I would ask them are they trying to sell quickly or doing want to wait six months?

Lol

Micah Copeland · Answer

@Jim Means

Someone can technically be FSBO and have a realtor friend help them sell the property.. Is the property listed on MLS? I wouldn't put too much into it as long as its not listed. I just closed on wholesale deal last week where the whole time I dealt with the ladies "Realtor" and didn't pay any Realtor fees.

Brian Gibbons · Answer

I training lease option assignments

I ask unlicensed folks that aren't licensed to go knock on doors and say that if the agent with the listing agent doesn't perform to think of them, the Rei operator, that's it

Procuring cause is an issue, so getting a release from the broker of the agent is important

Jim Means · Answer

So you guys think I should talk with the realty company?  but even if I do get a deal wouldn't their commission eat my fee? besides from what I've been reading here on BP. RE agents/brokers don't like wholesalers much

Ryan Dossey · Answer

In a lot of instances you may have to actually close on the property before re selling it. I haven't really dug much into FSBO but I think I am spoiled by my DM leads.

Micah Copeland · Answer

In my city it is possible. I have a deal thats closing now and the buyers are using a realtor to help them with the process. We agreed to pay the realtor 1% of the total sale out of our end since they agreed to pay our asking price.

Jim Means · Answer

LOL

My First Try... Wisky Tango Fox trott?

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