All Forum Posts by: Spencer I.

Yes I did get a $1k deposit, but it was made to the title company

I recently got a contract accepted from a realtor for a property I am going to wholesale. I put up $1k earnest money and the title company has withdrew it from my account. Now I have a buyer ready to close, but I want to know what do I get my $1k earnest money back? or is it supposed to go towards closing? I'm a little confused what to say to the title company. Closing the deal in a couple of days, so any response will be greatly appreciated.

Using credit cards would also be great for some wholesalers. If you have a great deal and don't want your buyer to see your profits, you can close and pay it back within the week. It would be great for wholesaleing reos or hud owned properties.

DD is a 1998 Lexus GS400
Paid cash 3yrs ago I love this car
I've seen the same model with over 300k miles and still kicking

I might upgrade to 08-12 Cadillac CTS if I find one for under $15k cash

Are you getting the sellers to sign a listing agreement first?
I inquired about doing just that once here in Houston, and was told I could not sign the listing agreement until I closed therefore the seller must sign the listing agreement. My buyers list works great, but my deals would sell at least a few days sooner if I could just list them on mls.
Just curious.

I know wholesalers making 100k per year at least. I think you can absolutely make a living wholesaling discount properties to cash buyers. Take it from an active wholesaler. Once you get the ball rolling good deals will be coming at you left and right.

100% SCAM - RUN

Thanks a lot Jon. You are right, but the buyer isn't coming at me more like asking for advise.

I just closed a wholesale deal where the seller was selling the property with tenants in place. Found a buyer and closed the deal, but now the buyer wants to know who is responsible for the $400 security deposit the tenants gave when they first moved in? The seller or the new owners?

All opinions welcome.
Thanks in advance

My title company wont continue to open title because there is a pending probate till June, but they did inform me that the lein is on the report. Should I try to open title with another title company? If so any recommendations in Houston Tx