All Forum Posts by: Duncan Hayes

@Misti DelMar saw you said you want to BRRRR a property near a hospital for travel nurses. There's an episode on the podcast about that. Also, you don't need a realtor. Just a little cash and a solid hard money lender. Yeah you need to zone in on where to invest, but once you've done that, along with market research, you can dive in head first. One of the R's in BRRRR means rehab. You can find an off market property that needs work, come in BELOW asking, and negotiate from there. The object is to have the least amount of money left in the deal after the final R is complete. The best way to do that is go after properties that wouldn't be on the MLS.

@Maria Nicole 100% virtual here. You can get photos from the seller. Truly motivated sellers won’t mind, why? Because they’re motivated to sell. Sometimes we just get the list of major repairs and base our estimate on that prior to contracting. Then we let the buyer go out and view the property and a lot of times they bring their own contractor, or they can guesstimate what they’re gonna spend on repairs just seeing it themselves.

@B Lacy message me I got PA and AA you can use.

@Fisher Hudak you can wholesale to build capital to purchase. Im from Southfield area and I’ve done deals in Michigan. Just have to know what you’re looking for and where To look!

@Ben M. Wholesaling is a great way to create extra income. Started as extra income for me and then ended up being able to leave my job as a truck driver because of it.

@Myles Kamara best advice you’ll get for wholesaling a deal you’d use an agent for; DONT.

Even if you got around everything that all the folks before me mentioned, realtor’s commission will cut into your assignment fee and the end buyer’s profits. Unless there’s some HUGE spread, leave it alone.

Wholesaling is meant for off market deals. The deals that can't be listed with a realtor. Every blue moon you may find something worth wholesaling on the MLS, but it's highly unlikely these days if you ask me.

@Aziz Meshal never had a buyer try to back door me when they go to meet the seller. That comes from building relationships and showing you’re just as serious about what you do as they are with what they do.

@Damian Lopez find buyers. Find sellers. Get contract signed. Assign that contract. Close.

There’s nothing special you need to do; wholesaling is not currently regulated in TX. And even if it does become regulated all you’d need to do is double close.

As of right now the TREC is 100% assignable.

@Luke Simpson you’re aiming to do too much too fast. Focus on one thing and get good at it before you add more to your plate. All you’re doing is adding more risk and more stress to your plate.

@Aziz Meshal you’re definitely over thinking things. I virtually wholesale all over, have only walked one property in three years of wholesaling.

Find a handful of serious buyers. Begin establishing a relationship with them, ask their criteria. Find properties that match that criteria and begin the process of getting it under contract. You can ask the seller for pictures or even a FaceTime walk through if you absolutely have to see the homes condition. You need to ask questions about the condition, more than you need them to take pictures. Get the contract with the seller signed. In your contract it should state that you have X amount of days as an inspection period. In those days your buyer can go walk it himself or have his contractor swing by. You won’t be getting keys 8/10 times because either they’re gonna be occupying or they have tenants. Who do you know that gives keys out to a home they live in? Not many people, if any at all. If it’s vacant that’s different, but if it’s a truly distressed property then chances are they won’t even need a key to enter. Or the seller can meet the buyer (your partner) at the property to let them in. Buyer decides if he/she wants it, and if they do you assign to them.

At no point in time during this part of the deal do you need to consult with a title company. They merely facilitate the sale. You don’t involve them until you have two signed contracts on the property.