All Forum Posts by: Dustin P.

Just grabbed one 250k off the price it was listed for in April. There are definitely some panic sellers out there!

@Natalie Schanne Is also correct, OP likely did benefit from the wholesalers as he likely got a smoking deal out of the fact that the sellers were desperate to close

Also Natalie to your last point, that's all about follow up! If you aren't in the seller / agent's ear every single week figuring out exactly what's going on with the current escrow then you're doing it wrong. If they knew Natalie is a pain in the *** who calls them every single week telling them she's still good to go at her $200k number they would have never sold it for $180k months later. Food for thought!

 Can confirm, there's just as many incompetent realtors out there. Although I do think the license is at least somewhat of a barrier to entry that I think all wholesalers should have

Never rely on these rules. Actually evaluate the property, don't be lazy. If it meets your criteria then take steps to move forward. I find so many investors are lazy and do not take time to deep dive a property. It rarely takes more than 20-30 minutes

It really can vary neighborhood by neighborhood. In general though I'm looking specifically at what closed in the last 30 days, pendings and actives

 I second this, pick something that can rent long term and still cash flow

The market sucks right now but every house is a deal at the right price. What if you could buy something for $200k that you think you could rent out for $500/night and be booked at least 50% of the time? I'd buy that deal in a heart beat, looming recession or no. Obviously getting that probably won't happen but just adjust your numbers to where you feel comfortable

You'll need to find a new brokerage that allows wholesaling as others have mentioned it

As far as contracts go, always disclose that you are a licensed agent, always always always. If you are getting a property under contract with a seller with the intent to make a profit and get it super cheap than they need to understand you're a licensed person who has access to tools and knowledge that they do not necessarily when it comes to the value of their home

You should be fine as long as you disclosure. What a lot of people will do is say hey if you want a no hassle cash offer, here is the price. If you want to go to market and push for a higher offer, then we can do a listing instead. You'd be surprised how often some home owners just want to take the cash offer and not deal with listing the property. I would never do that, no one here would probably do that, but some will

The sky is falling!

My body is ready

I would reach out to a larger wholesaler with a more established buyer list in your area. If it's a decent deal they can probably either find a buyer for you at that price or at least get you a solid number within 1-2 days