All Forum Posts by: Bart Shirley

 That's very kind of you, Juan. I'll give you a call this week, if that's alright.

@Gabriel Watts I sent you a message, but I'd love to meet IRL and talk, if you have the time. 

@Oleg Donets

I almost certainly will! Please don't read my comments as a permanent brushoff - but I've resolved to start with the MLS for the moment. I'm sure I'll change my tune in due time. Thanks for your advice!

Thanks, @Joseph Hendershot. That makes more sense.

<facepalm about omitting the percentage>

Thank you for your response. I knew something didn't look right. 

I guess my question, though, is when does negotiation about your fee happen, if at all?

In other words, is it just some arbitrary number I quote? Who decides the size of it, and how? I see a post on my list of recommends that mentions closing a $31,200 wholesale deal...so how does someone negotiate a fee like that? Is it all in the relationship with the cash buyer, or something else? 

I'm just trying to get where the calculation for the fee itself comes into play, and at what stage.

Hi there!

So, I understand the notion of MAO pretty well, I believe. MAO = ARV - Rehab - Wholesaler fee, and the MAO is the maximum the wholesaler can get a property under contract with the listing agent. Please correct me if I'm wrong.

What I don't understand, though, is the variable nature of the wholesaler fee. I have heard the number $10,000/deal thrown around as a sort of industry average, but there seems to be a negotiation/variable piece that I'm missing. Some Youtubers claim to have made amounts far in excess of the 10k figure, but I have no idea how one would arrive at such a payout or, conversely, a payout lower than average.

If anyone could clear that up (and, if necessary, anything I'm missing about MAO), I'd greatly appreciate it. I still haven't started my work in this yet, but I want to spin up sometime in the next few months.

*Please note: I am reposting this from the Starting Out forum because I didn't see this forum until afterward. If a mod needs to delete the first version, please do so.

@Oleg Donets

You may be right, and that may be what I'll discover myself. I feel like I'm going to have to learn that one the hard way, though, as the internet is conflicted about the viability of the MLS as a lead gen tool.

Hi there!

So, I understand the notion of MAO pretty well, I believe. MAO = ARV - Rehab - Wholesaler fee, and the MAO is the maximum the wholesaler can get a property under contract with the listing agent. Please correct me if I'm wrong.

What I don't understand, though, is the variable nature of the wholesaler fee. I have heard the number $10,000/deal thrown around as a sort of industry average, but there seems to be a negotiation/variable piece that I'm missing. Some Youtubers claim to have made amounts far in excess of the 10k figure, but I have no idea how one would arrive at such a payout or, conversely, a payout lower than average.

If anyone could clear that up (and, if necessary, anything I'm missing about MAO), I'd greatly appreciate it. I still haven't started my work in this yet, but I want to spin up sometime in the next few months.

Hello!

My name is Bart Shirley, and I am a new wholesaler and flipper living in Katy, Texas - just west of Houston. I have had some sporadic work in real estate in the past - I helped to flip two houses with my brother abut 20 years ago, I worked in an appraisal office for six months, and my father has been a broker for several years - but this time will be my first in charge.

I am also in the process of getting my real estate license, and expect to finish my coursework and take the test sometime in September or October. So, I plan to use my newfound MLS access to search out deals to assign to cash buyers.

However, I plainly admit that I still have several pieces to arrange before I go for my first deal. So, any advice you fine folks can pass my way is greatly appreciated. Whatever help I can send in return, I will be happy to share.

Anyway, I am proud to be here!