All Forum Posts by: Braden C.

 But that's not what you suggested, you suggested to sign a contract with the wholesaler and then purposely not close in order to work directly with the seller. Had you said that you would approach a seller with a backup offer, it wouldn't have been a problem at all, in my opinion. 

I have no issue with Florida cracking down, I have a brokers license and encourage it for anyone else involved with wholesaling. Contrary to your opinion of wholesalers who just try and steal from little old ladies, I actually provide a service to those who need it. 95% of the people I speak with are better off not selling to me, and I tell them this. One nice thing about having a brokers license is that I can offer sellers either a quick closing at a discount OR a longer closing and list their property for them.

 Most wholesalers will never come across someone being so dishonest and unethical. But in case it's ever an issue, make the closing date on the assignment before the closing date on the contract. For example, you have a 30 day close on the contract and flip the property on day 3, put a 10 day closing for your buyer. This way if they fail to close for any reason, you have another 17 days to resell the property. Obviously you keep the persons $3k-$5k deposit and end up making more on the deal. 

I've wholesaled hundreds of properties and never had anyone try and go behind my back, much less not close in order to go behind my back. Good wholesalers can be extremely valuable to investors by providing them great deals. It doesn't matter if you're working with a good wholesaler or not, trying to screw someone over by purposely failing to close to better your position is just plain wrong.  

@Lawrence Monyei

I once wholesaled a pig farm right next to a nuclear power plant and the seller MADE his wife be part of the deal! 

Not really, but my point is, a deal is a deal. Obviously a 3/2 is more desirable than a 2/1 but if it's a deal, you'll have a buyer. I have a closing tomorrow for a 3/2 house that I made $10k on and last month I had a 2/1 that I made $18k on.

FIND the DEALS, buyers are the easy part. 

The only problem I see is that the "middlemen" have given the owner an unrealistic value of his property and therefor he's got an unrealistic figure in his head. This happens ALL the time where "wholesalers" blindly go in and offer a ridiculous price in order to tie up a property in hopes that they sell it to someone else. A good wholesaler knows how to market and knows how to price. 

If you go in with no contingencies and a quick close, you've probably got a decent shot. 

@Aundra Fields

 Listen to Micah, he's given you good advice. 

@Danny Woodson

Are you wholesaling these deals or doing fix-and-flips?

Lol, that's a great story, hopefully the deal comes through! If it does, after the closing, you should tell her the story. 

@Sidney King

 Are they handwriting the envelopes AND the letter or just the envelopes? We've always found that a professionally typed letter with a handwritten envelope works really well. 

 If I look closely enough I can see through the envelope to make sure the outside matches the inside. I am checking every 30-40 envelopes, I haven't had one mismatch yet though. 

@Jerry Puckett

 We have one of these machines too and the key is just keeping everything in order. If/when there is a jam you just have to make sure to remove the correct envelope and letter. We've loved it since we got it, saves a ton of time.