All Forum Posts by: James Green

@Melanie Williams check out https://www.simplewholesaling.com/ they are in Indiana. They also post on here also. Tons of actionable content! @Brett Snodgrass

@Jeff Filali I love your investment model.

@Nick Zocher,I think most people would laugh at a 1$ EMD, especially on a $1M house. How about this since you are still kind of negotiating with the homeowner, DO YOU ALREADY have a buyer lined-up??!?

Have you had any buyer's do at least a drive by or even walk the property with you as your partner? If it was me, I would have already have had some buyer's give me an offer price they would be willing to pay.

I was in a similiar situation about a year ago. An owner of a 15,000 sq/ft house contacted me, from my motivated seller website. I had no idea how to make an offer on this massive property, or make an estimate on repairs. I took a ton of pictures and video. I contacted some of the biggest buyers in the area that I knew & one reached out to me on here. He saw my pics/videos, told me what he was willing to pay based on the total picture. The house was 3 times the bigger than the other houses, BUT this was an area where it was nice, but people who wanted houses that big usually bought in other areas.

After negoitations with the homeowner the deal didn't go through, but I know how to approach properties like this. To solve my EMD issue, I would of just used my buyer's EMD, but the key was I had someboy lined up that was willing to purchase the property before I tried to put it under contract.

@Waide Franklin it can be done, but why? If you can find off-market properties, that is where your money is. Besides if it is listed, then most buyer's in your area have already seen it or know about it, before you have.

Dealing straight with a property owner is your best bet, instead of going through the agent for every little thing.

@Rick MacGills, I believe that Ohio is one of those states where you absolutely need to have a realtor license. You probably need to go to a couple of REI meetings in your area to meet other wholesalers that are actively wholesaling as well as meet cash buyers to get more info.

@Agustin Fernandez, welcome!

@Nicole A. after all that the owner is sentimental about his run-down childhood home. After leaving the house, I wanted to talk about the contract. He tells me that he left it with his lawyer, and wanted his lawyer to review some of the items on there. It was a 3pg contract that I had emailed them over a week in advance to review including the purchase price. I ended up sending them a 1 pager. They ended up responding months later & doubled the price. The county assessment had come back & they wanted close to the appraisal value of the land. This wipes out all profit for any developer/builder.

Yes, it is a teardown. My buyer still wants it! It's in Glen Burnie, corner lot, great family neighborhood. Largest lot on the block.

@John Thedford, LOL, they know we are wholesalers. They know we are assigning the contract to an end buyer. 

@Will Gaston I don't know if this would sound creepy or pervy, but how about taking pictures of her room showing that she is still living there.

@Marty True, @Ralph C. has a great suggestion. If you come across a property in your inbox that you are slightly interested in, see if you can negotiate the price. Almost always a multilayered daisy-chain won't & can't negotiate the offer price, since that would mean eating into their own tacked on fee.

If the wholesaler added on say 3K, what's the chance that they are going to be willing to negotiate? They aren't capable of getting a price reduction from the original property owners.

Actually I'm in a similar situation right now. I have a so-called "buyer" that negotiated with us on a property. We wanted to get the deal done & they responded to us, so we came to an agreement. At the same time my partner was able to get a price reduction from the owner, who is an investor not some elderly lady that can barely speak English. I just found out that the "buyer" is actually a wholesaler. He negotiated us down, so that he could resell it. I only found out b/c I got an email from them but it was addressed to another person. The email was my "buyer" telling their buyer that they have this good deal (they marked it up $10K) and need to sell it & wanted to know if they were interested. I received the email because my "buyer" did a reply to a REI Meetup email post. They thought they were sending the email to one person, but it went to the whole meetup group, which consists of several thousand emails. I just laughed. They are due to close next week so I'm just waiting to see what happens. Also my assignment contract is non-assignable so they would have to do a double close. If they don't close they are out 3K EMD & we lose 1K EMD. But I am hustling for another buyer in the meantime.

But my point is, I was able to reduce the offer price because we are direct to the seller.