All Forum Posts by: Jason K.

I'm about to write up my first wholesale deal and was wondering if I should always write my offer as a cash offer to the seller? Do I just assume my end buyer is a cash buyer? How do I structure the purchase price for each transaction?

I will be using an inspection out if I'm not able to move the property, but what techniques should I be using with the seller if I wind up having an end buyer who may be interested in the property but not interested paying in cash?

Please advise.

JDK

Also, I'm not interested in buying blank signs.

I've been doing some research to purchase my first set of 50 signs (18x24). I've seen sites that will charge upwards of $300 and the lowest I've found for 50 is $163 (including shipping). It comes out to about $2.80 for a 18x24 1 color/1 side plastic sign.

I've looked into 10-15 different sites from search, but surely there has to be a better deal than this.

Anyone have a good source? I'd appreciate the referral. Thanks!

JDK

Thanks guys!

Did not mention that the service is free.

Does anyone use Google Voice? Can anyone provide an opinion?

Is it just me or is the initial connect message they have when you call the #, "Google Voice is attempting to connect you to ___ ____ (name)" a bit cheesy/non-professional?

I do want to answer my calls/leads, but I'm not about to post my cell phone all over the place for everyone to see.

Advice?

Ahh! Just as soon as I feel like I'm starting to understand the details, the thread dies!

Am I on the right track here? If someone could walk me through once you have located a buyer at a higher price in this scenario, I would appreciate it. Or if you would prefer to send me a PM and chat about it over the phone, that's cool. I know explanations can get a little lengthy on here...

Thanks in advance

JDK

Nick,

So I would need to sign an option agreement with wholesaler #1 for however long his contract with the seller is for I'm assuming. This gives me an equitable interest, therefore I can legally market the property.

Let's say I do find a buyer. It only works if I'm able to find a buyer at a marked up sales price from the original asking price from Wholesaler #1 to make any coin.

So Wholesaler #1 wants 50K for this property, I need to bring in a buyer for 55K.

On my original purchase option with Wholesaler #1, do I write the contract like he did with the seller (My name and/or assigns ___), or what? Do I become Wholesaler #2 and then assign to my end buyer? He gets the property for 55K, I collect the difference between the end purchase price and 50K at closing. It reflects on the HUD, and everything is ok.

OR...

Double close like you mentioned with original wholesaler using end buyer's 55K, and you pocket the remaining?

Which is easiest? The most important thing is the option agreement with wholesaler #1, or I can't participate.

I get a bit confused after I bring in a buyer for 55K...

Thanks Nick!!

Nick,

Thanks for the reply. Who's paying my commission in this transaction? The buyer? Remember, the seller does not own the property in this scenario. Even if the buyer offered to pay 3%, it probably wouldn't be greater or equal to the amount I could collect from the original wholesaler, (or title co.)

But to get away from the realty commission and back to the assignment fee, or whatever you want to call it...

Yes, I am interested in knowing more about what I can/can't do and how to do it. I feel that as long as I disclose my license (since apparently it's become a burden LOL), that I can participate in a deal like this.

Nick -- please add me as a colleague so we can discuss.

Thanks,

JDK

What if! That's where the advice needs to start pouring in! :) It sounds logical, but what if?

Yes, I am licensed. I did talk to my broker, but he's not knowledgable in REI, he just takes $99 of everything I make and I keep the rest. So I'm on a 100% - $99 plan. Not that you needed to know, LOL...

But I'm wondering if this Profit Stacking strategy is an issue if there was an actual FEE paid to you (as I described it to my attorney), or just a simple matter of having the title co. divvy out your portion at closing to stay out of troubled waters.

If this is the case, I wish the attorney would have shown me my options instead of closing the book on me after 2 seconds, haha.

Any takers?

Sometimes the best wisdom comes from the ones who are actually in this business, and no one else...

Thanks,

JDK