All Forum Posts by: Danny Ragan

I have yet to do my first deal, but I am curious about closing deals.

I have been researching and found that occasionally when sellers find out that your are making a profit by wholesaling their property via closing statement, they can become angry and walk out on the deal. I know that doing a double closing makes it impossible for the seller to see your profit, but that costs more in closing costs. I also found that there is something called a "Seller's side HUD". this makes buyer and seller both only to see their totals. I found out that it is illegal to use this HUD if the buyer is paying with a mortgage.

My question is, is there a way beside double closing, that makes it impossible for the seller to see your profit, IF the buyer is buying the contract with a mortgage.

I attend school at Texas State University, I am a freshman. My roommate and I have been very interested in wholesaling, We are researching information to get us on the right track so we ourselves can get a contract and do our first deal. We have been watching videos and reading articles on how to create a big buyers list, or finding sellers. Whether assignment fees are taxable or not and just basic things about wholesaling.

I would greatly appreciate any feedback on how to start wholesaling at a young age, any advice on how to get our feet wet and enter the business. How to find a mentor, tips, cautions about the business. The ugly side of wholesaling and all, we want to know exactly what to do what to watch out for and how to avoid any financial trouble when starting off.

Thank you for your time and feed back, God bless.

Danny.

I attend school at Texas State University, I am a freshman. My roommate and I have been very interested in wholesaling, We are researching information to get us on the right track so we ourselves can get a contract and do our first deal. We have been watching videos and reading articles on how to create a big buyers list, or finding sellers. Whether assignment fees are taxable or not and just basic things about wholesaling.

I would greatly appreciate any feedback on how to start wholesaling at a young age, any advice on how to get our feet wet and enter the business. How to find a mentor, tips, cautions about the business. The ugly side of wholesaling and all, we want to know exactly what to do what to watch out for and how to avoid any financial trouble when starting off.

Thank you for your time and feed back, God bless.

Danny.