All Forum Posts by: James Lehmann

Marv Rousselow Thanks Marv. I just completed my first wholesale deal last week, and am working on another that I have under contract, but need a price reduction on to be specific. The seller owns free and clear, but did not have a good reaction when I asked. I just feel I could have framed it better, and that I also could have reacted better which led me to this post.

Marv Rousselow I am in the area of wholesaling and rehabbing. But any book out there that someone has read that really made sense or made a light bulb turn on about negotiating would be helpful. There is a thousand out there, so I was just hoping to slim down my options a bit.

What book have you read that gave you the most value on NEGOTIATING?

I need some work in that area, and your suggestions are appreciated in advance.

Danick St Jean Hi! I am not an expert, but I can give you the basics, and maybe a tip or two. You as the middle person will need marketing money to find the deal. There's some great BP podcasts on that subject. You may also need earnest money to get the contract through, but not always. I put 1k earnest money on the contract. You will get this back at closing, or if you cannot find a buyer in time. If the cash buyer bails, you may lose your earnest money depending on when they bail. If your seller knows what is going on, you should be able to cancel the contract. Your attorney should be able to work that out with the seller's attorney. I would put 10 days for atty review and inspection on the contract. This is 10 business days and if it is a good deal, a good cash buyer will snatch it up in that time. You can always ask to extend the review period. Again if you have a good working relationship with your seller this will be easier. I wouldn't use an agent for wholesales. Too many hoops. Cash buyers can be found by calling bandit signs, going to local REIA meetings, asking other BP members in your area, looking around your neighborhood and town at current rehabs and finding the owner, and if you have MLS access you can find what houses have been paid for with cash and track those folks down. This is only a few of the places. I really hope this was helpful and useful. Good luck, and don't be nervous to ask anybody anything!!

Matt Whiteside The house is indeed vacant, but I need to get in to either take pics or bring people through.

Erin Elam Haha yes I'm serious ???? Home Depot $30. Or just google lockbox, there's a bunch you can buy for the same price point.

Erin Elam ha! Yes I am serious ???? Home Depot $30. Or just google lockbox. There's tons u can buy online around the same price point

Erin Elam ha! Yes I am serious ???? Home Depot $30. Or just google lockbox. There's tons u can buy online around the same price point

J Scott Derek Dombeck Brooks Rembert I am finding that this is the common theme. I should have, at the least, explained the and/or assigns part of the contract. With that being said, what do you think is my best course of action now that it is under contract, and I need to get some people in there to have a look. Call the seller up and just be up front? I am worried about scaring him away, because this is a good deal. Thanks guys.

Erin Elam I am not an agent, but you can buy a lockbox anywhere. It's in our addendum that there will be one, and also the code for it.