Needs Keys to Wholesale??

15 Replies

I’m meeting with a seller tomorrow to sign my agreement. I plan to wholesale the property and told her to bring a spare key ( I explained it was so I can have my contractor give me estimates on repairs & such) to which she replied being him with you tomorrow. Will this break the deal? How can I wholesale the house if I don’t have access inside?

@Ayodeji Kuponiyi you want a stranger to give you a key to their house? That you don’t own?

Yeah can’t see anything wrong with this lol. Bring your contractor with. If they can’t come with you, then I guess you’re on your own or come back another time.

@Caleb Heimsoth  & @Jason Hirko I plan to wholesale the house. We're meeting tomorrow to sign an agreement and I'll need access to the house so I can show it to potential buyers to assign my contract to. I don't have a contractor to bring, I just told her that as a reason. Don't I need access if I plan to assign my contact or it's not necessary?

@Ayodeji Kuponiyi I am going to give you some slack and not just totally rip into you for this.

When you go take photos.  Problem solved.  No rational person is going to give you a key to their house when they don’t know you.  

You seem to not have a full understanding of what wholesaling is.  I would recommend you read more about that before doing anything.

@Ayodeji Kuponiyi The problem isn't that you need access in order to assign your contract, the problem is that you are being dishonest with the seller. This is what gives wholesalers a bad reputation. Tell the seller you have no intention of closing on the property yourself, and you will be bringing in investors to try to assign the contract to, and if she still goes forward with the contract, you will have no problems getting access when you need it. 

Walking in the door lying to sellers? And everyone claims it is a "service" LOL!! Don't forget the magic words "TRUST ME".

p.s.--if you have no intention of closing (especially if you cannot assign) this is called FRAUD. That is the wrong way to start your career. Ignore those on BP that propose BS escape clauses unless you would trust THEM enough to do business with them. I wouldn't. 

Originally posted by @Jason Hirko :

@Ayodeji Kuponiyi The problem isn't that you need access in order to assign your contract, the problem is that you are being dishonest with the seller. This is what gives wholesalers a bad reputation. Tell the seller you have no intention of closing on the property yourself, and you will be bringing in investors to try to assign the contract to, and if she still goes forward with the contract, you will have no problems getting access when you need it. 

This is perfectly written

The truth will set you free. I had a seller I'm under contract with call me this morning telling me her friend saw me listing the property online (I post mine everywhere so no wonder) for 55k. Had I told her I was purchasing the property myself.....this could have sank or ruined the deal.

Instead, she literally said (she' an old woman) "Good for you, I'm getting the price I wanted, without having to do anything to the property. Keep me posted!" BECAUSE I WAS CLEAR FROM THE START WHAT MY PLANS WERE!

I sell time and convenience, and motivated sellers are motivated for various reasons. Be a truth teller and a truth seeker and things will start to go your way. Walk the ethical middle line and you will get tripped up over and over again trying to stumble to your first deal.

@Ayodeji Kuponiyi Stop lying to sellers man. I know you probably learned it from some guru, but it's totally unnecessary.

As for having access. The best way to handle it is just ask the seller what they want to do. Some will give you a key, others will give a key to a friend nearby. Sometimes the best way is to arrange regular times to do showings like 1-3pm on Saturdays so the seller can be available to let you and your prospective assigns in.

Otherwise as stated, take pictures, and preferably a walk through video too.

If lying is necessary to your business model you have a problem. How would you feel if someone did this to your mom or grandma? Stealing equity from uneducated people (typically poor people) who are desperate isn’t a good business. Hard work and honestly pays way better from everything I’ve seen. Provide an actual service.