All Forum Posts by: Brian Jordan

Any restrictions on areas? The price point will limit you somewhat. Any additional info is greatly appreciated. Thanks!

I would recommend getting an account that deals specifically with real estate and has experience with wholesaling. I've never done wholesaling without an LLC so all the profits run through there where I make deductions and so fourth. You'll need to claim it regardless of which route you've gone.

Assuming you have a buyer's list already developed and you've just contracted your first deal. You need to decide if you're going to assign it or double close it. Both have their pros and cons. I double close when wholesaling mls properties or when I don't want my buyer to know the amount of my assignment fee. There's other times as well such as the seller controlling who the title company is, etc. The cons of a double close is it typically costs me about $1,000- $1,500 because I'm paying all closing costs and fees on the first transaction and I'm paying transactional funding fees to fund that transaction. My time line typically goes as follows. 1. Contract a good deal. 2. Market the deal and contract with an investor to sell the deal. 3. Open title with investor friendly title company. 4. Close the deal. Don't overthink it. You'll look back after a few and wonder what you were worried about in the first place. That being said, every city/state is different regarding the legalities of wholesaling. It's up to you to stay in compliance. Best of luck

Depends on several factors. If you've contracted them all under one purchase agreement, you'll have to close on them and then resell the two you don't want. If you have seperated contracts on each property then you could just assign the 2 to whomever and keep the one you want. Personally, I'd get three separate purchase agreements and deal with each property individually. Should you not be able to wholesale the other 2, you could still follow through on the one you want. With only one purchase contract including all 3, you'd have to terminate the whole transaction if you couldn't wholesale the other two.

I'd recommend B.O.S.S. Realty Group if you're looking for a flat fee brokerage. I pay $200/month and keep 100% of my commissions. No other fees. If you're new and will need training, I'd recommend a larger brokerage that you can learn from through their training they offer.

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I have butcher block in my own home but doubt I'd put it in a flip. Laminate counters are much easier to deal with, can be cheaper and have tons of options. If you go with butcher block, NEVER use a marine grade finish or any other finishes that aren't made for butcher block. The finish you apply has to be a food grade material. 

I was an agent with Ultra when I lived in Dallas. I loved it!!! However, I was already an experienced agent and didn't need any training. They may be good at training as well but I never used what they offer. I dealt strictly with cash investors that I already worked with. I did my thing, honestly and ethically, and made a heck of a lot more money because I kept 100% of my commission. Your Board of Realtors and MLS access fees will be separate and are paid by you. I believe it was $1,000- $1,200 per year for MLS access with a Supra key. As far as reputation, I wouldn't worry about the other comments. You will create your own reputation and how clients perceive you. I had very little contact with the broker accept to email files and arrange for my commission to be wired from the title company. Best of luck!

I would stay away from a project that big on your first one. If it's a good deal, lock it up and wholesale it to another investor for $10- $20k and move on to the next one. I've flipped probably 25 houses and I wouldn't touch one that needs what you've described. Too many easier projects out there.

I prefer Lowe's but purchased my last set at HD on black Friday. If you plan ahead, you can find good prices online at Lowe's and have them delivered for free.