All Forum Posts by: Jason Cummins

I want to know as much as possible before I will make an appointment to see a seller's house. There are SOOOOO many flakes out there. And SOOOO many people who arent truly motivated.

By asking all the right questions and getting as much information as possible you can usually tell if someone is motivated enough for you to make a meeting to see the house.

You will eventually get a feel for this, however, your instincts arent always 100% correct either.

Oh there are tons on these forums, just look around.

It's not as easy as cake an icecream. You have to treat wholesaling houses like a business, and most will not. It's hard work.

But look around, plenty of good stories on the site.

95% of my wholesales the end buyer pays all closing costs associated. Obviously taxes and insurance is prorated.

What was on your original contract with the seller? 100% paid by buyer? If so then your buyer should have known. If they back out, just keep the deposit and market it to buyers that understand they are paying 100% of the closing costs.

This buyer may be trying to feel you out to see if you will budge, but maybe not. Most buyers that deal with wholesalers understand that they will be paying the closing costs. There are certain circumstances that this is not the case, but the majority of the time it is.

I wouldnt budge if I were you. If it's in the original contract that the "buyer" will be paying 100% of the closing costs, then they should have known better.

If you dont mind me asking, why does your end buyer have an out?

You can get the original contract with the seller with no money down if you work it right. Then you can assign the contract to an end user. You do not need to get funding at all if you work the contracts the right way.

What you are asking is more than one post can answer. You pretty much are asking 'how to wholesale'

I would recommend that you spend a little bit of time in these wholesaling forums. If you dig I guarantee you will find your answers.

Once you do, and you arent clear about something in particular, then ask away.

I have them saved on my computer. But you can hand write them if you wish, but would the seller or the new buyer really trust a hand written contract. Many times it is about the professionalism. I know if I were selling my house I would want to see an official contract as in, computer generated.

I could go back and get numbers. But just eyeing it I would say though probably 20-35% range get accepted.

There are sooooooooo many reasons why a person wouldnt accept an offer. And even if someone accepts an offer there are so many things that can go wrong afterwards and you dont close the deal.

Or you can just use an assignment contract like you do now, turn it into the title company, and receive your check at closing.

That's exactly what you need to do. Send the owner a letter with a few business cards. Do it again in a couple weeks with a slightly different letter. If you feel comfortable enough, see if you can find a phone number and call them up asking if they have received your letters and if there are interested. If not, send a few more letters.

If they never get back to you, then they probably arent interested.

Leave your email address in your letter if they would rather email you first.

It sounds like you are ready!

Get out there and start making some offers. The best way to learn anything is through experience. Good ole school of hard knocks!!

If you have any questions along the way feel free to pm me or ask on here, lotta good knowledge here!