All Forum Posts by: Caleb L.

Can the company be the own listed as the buyer on the contract? Or does it have to be my name on the contract? I thought a company could be the on the contract and buy the property, although, I could be wrong. 

Have any of you follow wholesalers agree to pay earnest money?

Lastly, do I have to have an attorney/agent with me when the seller and I are signing the contract? Is it something I could do alone? Or does an attorney/agent have to be their.

Hello, 

I'm learning about wholesaling and I have a few questions. When you get a wholesale deal under contract, should I just bring the purchase and sales agreement that BP provides? Or should I bring the TREC contract? Am a little lost on what kind of contracts I need to bring to the table. Is there a special wholesalers contract? Any advice/links would be great! 

Thanks, 

Caleb.

When I get my first rental, I'm going to use Cozy or Avail. Both are great and handle tenant messages, rent collecting, reports, track expenses, and so much more! The only reason I think Cozy is better than Avail is because Cozy is free, for ever! And I know some real estate investors who use Cozy, and love it!  Avail is free up to a certain amount of properties in your portfolio.

Hope this helps! 

Here are the links to both: Enjoy!

www.cozy.co

www.avail.co

I'm trying to get some money so I can purchase my first rental, and this strategy particularly stood out at me.

To Jay's comment, what kind of salary structure would that be? Or any other creative ways of making money (if I can't take a commission).

 But, I'm getting mixed feelings about this topic, specifically in terms of payment. So I'm not quite sure who to trust. The people that say it's okay, or the people that say it's illegal.

When wholesaling, do I have to pay the down payment, than sale it to the investor? What if I can't find an investor? I'm very new to wholesaling. 

From what I read from Stanley's link he sent me, I might not be able to take a commission like a broker. But, it only said that I could be fined and possibly put in jail if, (I act as a real estate professional without following the guidelines and meeting the relevant requirements). I don't think a bird dog is considered a real estate professional, right? If not, it shouldn't be a problem? 

Most of what a bird dog is, is finding leads and getting paid a certain way, either through a commission, salary, or compensation. So, if I choose to get paid a certain way, not by a commission, I could most likely do it, correct? 

Which one is right? Stanley's link or what Fred Heller said?

I just read a comment from Fred Heller about bird dogging. He said that:

" licensees are not allowed to pay consideration for referrals, defined as anything of value, to someone who is not a real estate licensee. But a real estate licensee would know that. And that rule doesn't apply to someone who is not a real estate licensee." 

So does that mean I can (only) be a bird dog and collect a commission on the purchase price from investors who (don't) hold a license? Does anyone else agree with Fred's statement?

I get what y'all our saying. I thought I would get some advice from people who've done it before. Anyone know any bird dogs I could speak to about this, specifically in Texas?

Okay, thanks!

I would mainly be finding deals for the investor, and taking a percentage of the purchase price as my fee. Would that be okay if I just did that? What if the investor doesn't have a company? 

I'm a little confused about what I'm supposed to be doing? I thought I'm just bringing the deal to the investor, and if he closes, collected my fee? I'm I missing something?

@Josh Oaten undefined

I'm thinking of bird dogging in Texas to start out in my real estate investing. And hopefully save enough money to start buying rentals. 

I've been trying to find out if I can bird dog in Texas without a license. I couldn't find many helpful posts about if it's legal in Texas or not. So I'm trying to get a straight answer. Any advice would be helpful.

Thanks y'all! 

I'm wondering the same thing! Does anyone know the answer?