All Forum Posts by: Bill Plymouth

@AJ Aispuro Usually an agent will e-mail the documents.  Most give a 2 day response period.

That is kind of the grey area of wholesaling and why there is always such a debate about it's legality.  I would suggest familiarizing yourself with your state's laws as best as possible to make sure you aren't unknowingly bending or breaking any laws.  

As for not having worked with that list before, I would call and reach out to them.  You have a deal that needs to be moved.  If you call that list with an item of value (that potential deal) they will be more likely to give you he time of day.  

I've never worked as a whole-saler.  When it comes to protecting your interests, I would ask another whole-saler for that advice.  As an agent, I have contracts and laws protecting me.  I feel as if whole-salers can be a little more likely to be taken advantage of in a deal than an agent.  I would hate to give you the wrong advice.  

A step i would take though is find a buyer, call the owner, and inform him that you have a cash buyer interested in the property.  When it comes to set up a time to "show" I would say that you will only bring the buyer around if he goes under contract with you in order to protect your own interests.  Ask another whole-saler how this plan translates into your profession.   

@Kevin Gallagher I'm familiar with the 1% rule.  Thank you for bringing up.  You just made me realize the mistake I've been making.  It was a total noob move on my part.  I was also not accounting for the negative cash flow from refinancing the property.  That is definitely something I will have to be more mindful of.  

Thank you!

@Shavaun Swygert I come across this problem every now and then as a real estate agent. You kind of need to set yourself apart and show value ahead of time. Show them why you are the best whole-saler for them. Maybe bring a few of those cash buyers to the property. Show him you're serious about getting it sold. This is a tactic I use on FSBO's to get them to list with me. As for "paying you on the side", make sure the amount you charge and the terms of payment are in writing.

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*This link comes directly from our calculators, based on information input by the member who posted.

Hey everyone.  So I just ran this analysis and you can see my monthly cash flow is pretty weak.  Based on the report, what are some things I can do to make these numbers work?  I feel like whenever I analyze a property, I get very low cash flow.  Is it my market?  Is it because I'm usually analyzing with the use of conventional loans?  Are my numbers for projected expenses to high?  Or am I just not being creative enough?  

@Brandon G. thank you for the insight.  I didn’t even think about the other potential leans.  Do you typically have an opportunity to do a title search before fully purchasing the property?

Thank you! @Kyle J.  I’m in Philadelphia.  Since it is becoming a very expensive market, I think an auction purchased property would be a good place for me to start. 

Hey everyone.  I know the rules could potentially differ in each state but I'm hoping someone with some auction experience can answer a question for me.

When Purchasing a property at auction with tax liens, are you responsible for paying the unpaid taxes, or does the sale price cover the liens?

1.   I always push buy and hold.  It’s a great way to build long term wealth

2.  You could use it as a down payment on a rehab property

3.  Lend it out.  Find someone who needs it and lend it out to them with interest.  

Those are the 3 that make the most sense to me!  I hope this helps 

@Account Closed I apologize if i gave you an prejudging impression.  Not my intention.  After re-reading my comment I could’ve worded it differently that still conveyed my same message!  O hope it all works out.