All Forum Posts by: Jason Eyerly

Hello BP,

I was just wondering if any REAs out there try wholesaling, and for the properties that they can't get for 70%ARV or better, if you have offered to become the salesperson for the homeowner to list it and help them sell it. Some of the people whose phone calls I have returned have a lot of equity in their house, but the house is in good condition and they are motivated to sell, just not at the lower numbers investors are looking for. I thought this would be an opportunity to offer my services to list the house for them and help them sell it through that route. Just trying to maximize my income/expense for all the marketing I've done with direct mail, bandit signs, business cards, and local ads. Appreciate any input.

Regards,

Jason Eyerly

Hello BP,

I'm not sure if it's just my area or not, but almost all the brokers require that you be a REALTOR to work with them. That's fine and all if the membership and MLS access to get started didn't cost $1,300. I've spent all of my capital on my start up marketing and direct mail, and would like to see how I do as a real estate sales person before plunging another $1,300 toward this option.

Not only that, but this would afford me the opportunity to make a few sales and generate some income so that I actually have $1,300 to spend. In the state of Indiana, you obviously have to work under a broker, and soon you will have to complete a broker transition course.

I was wondering if there was a way around the broker and being required to be a REALTOR. I've heard of the possibility of paying a broker a flat fee to "hang" your license, and I think by going this route I may be able to avoid the REALTOR requirement, and see how I do in this profession (wholesaling/listing/fix-n-flip) before throwing another $1,300 at it. Where might I find a list of these types of brokers and more information on them? Any advice and information is greatly appreciated.

Many Thanks,

Jason Eyerly

Getting rid of the living space that was once a garage will reduce your ARV because you will be losing livable square footage. If you're renting, I don't think lack of a garage will matter much, and if you plan to resale I don't think it would be a deal breaker. If it bothers you that much I would recommend adding a car port of some sort.

You're a very special kind of person. You very specifically told us your lie from the beginning, and asked which lie you should follow up with to buy yourself more time, but you are disappointed in us for calling you a liar. I call it like I see it, guy. Always have. As for the photoshop thing, I would appreciate you not putting words in my mouth.

Age is just a number. It's a made up concept, just like this deal you are preaching. If you think it reflects maturity, intelligence, or wisdom then I am right, you are a fool. I don't need luck, thanks. I've got skill. Only wish I could say the same for you.

You, my friend, are a fool and a liar. You give us genuine wholesalers/investors a bad name and should be ashamed not only of what you are doing, but what you have done. You have some nerve to come to BP and essentially ask us how you should go about continuing your lie to your seller. Obviously when testing for your license you skipped over the ethics section. If it were up to me you'd have your license revoked by the end of the day! That goes for your "partner" as well...ha.

In addition to what Liam said, I would want to know why they haven't been evicted yet. It seems to me that any lucrative business owner would already have this taken care of and the fact that they haven't makes me wonder why. This could indicate technicalities or issues that have prevented the current owner from evicting.

-Jason

You should be able to find his mailing info through the tax info on the county assessors website, or the deed change on the count recorders website. As far as the non assignment clause, you could always use a transactional lender.

The earnest money is up to you. If you think you will be able to assign the contract to an investor before your contract time is up, then I'd absolutely hand out the $500. However, if you fail to turn this contract around you'll be out $500. Unless you use a contingency in your contract, like continent upon inspection or estimated rehab costs being below X amount. But if you always use a contingency to back out eventually nobody will want to do business with you.

What is OO and NOO? Can somebody kill two birds with one stone and give me an explanation!

Thanks in advance!