All Forum Posts by: Christina R.

wow Nicole, that stinks!

I did.  This Thursday.  He said no.

Any suggestions??

I'd say it's subpar to the surroundings  and the configuration of the lot, I think this house may have to maintain it's current footprint.   He's not realistic enough on the price for me to invest in a survey to see what can be done, at this point.  I made an offer this week; the owner said thank you, but (he's) going to list it.

But I'm going to keep tabs on it. . . .  he's not motivated enough yet on price to consider paying for a survey.  However people's motivations change . . . ;-)

Awesome I hope u get the property! 

@Account Closed 

During my summer break this year,  I went to an auction in the MillHill area of B'more.  I Though I brought a certified check as required to jump in if I wanted to actually bid, I went with the intention of observing and walking the property during the inspection time and just listening to all the other experienced investors out there and watch them do their thing.  I'd say there were about 20 investors there.  It's wasn't like a crazy bidding war but the opening bid shot up quickly.  I don't know what your opening bid is at these auctions.  I would strongly suggest that you go to an auction BEFORE these so you have a basic level of what to expect (maybe you have already done this which good for you if you have).  Also have your financing completely lined up because if you are the winning bidder you are on the clock to obtain the property.  Good luck!

That's hilarious - but definitely food for thought.   If I can make the terms work, like you said, any  number will do.   I need to pin down the seller to a number and if he's not willing to give a number, he's not willing to sell.  Thanks for all the advice. 

@Pamela Soto 

congrats on passing your test - I am almost there myself and contemplating whether to hang the license or not . . because of wholesaling.  What's been said above about disclosure is true, and my belief is that a seller that needs to sell is not going to care about you disclosing.  The sticky-wicket based on what I'm determined talking with possible brokers to work for is that wholesaling is really a grey area . . . you are going to have to disclose out the wahzoo on your paperwork with the seller AND the buyer exactly what is going on and the broker is going to have to be good with it as well.  My conclusion for myself when considering wholesaling as an agent is that for ME - so I can sleep at night and not have the worry of the what if's? - is to close on the property myself and then resell it.  And disclose out the wahzoo to everyone that that's what I'm intending to do as a principal, not as an agent.   Because agents are held to a higher standard based on the fact that they are licensed, there is so much grey area in there that it really is murky.  I'm sure some agents wholesale as agents and I am very interested to hear how they legally do that .  I could be completely wrong; but this is what I get In the course of interviewing brokers . . . and these are brokers that are investors themselves, very investor-friendly.

@Tunji Ogunmefun 

With your rehab experience you have a better handle on costs that I would - Hamilton is one of those hot areas - you may find a private lender/partner/mentor if you post in the Marketplace, especially if the house has potential to appreciate.  Once you have it under contract post everything you can about it, with pix.

Yes, it does.  It's a mind shift - as a wholesaler, you are trying to get as far from retail as morally and ethically possible, lol.

@Larmon Cummings Jr 

 - you took action and @Michael Quarles is helping you out - even if you get nothing from your 250 letters . . . you got a LOT, imho.  Good luck and keep at it.    From my experience, with time, you will naturally start to wind down the conversations with the tire kickers/unmotivated as you start to pick up on cues that they are not ready to sell. Until then, use this time to practice building rapport and refining your phone call "technique" - which for me is still a work in progress!