All Forum Posts by: Jason K.

Yeah. Well I know it's not his first rodeo because I was the one who saw several of his signs/projects in the same neighborhood, and contacted him. But you are probably right, his money was probably tied up at the time, and he was trying anything he could do to get ahold of it. Gotta admit that he knows a good deal when he finds one :)

Thanks all for the input.

I was going to to receive the deposit per the sellers changes to his terms, and he wanted to write me a personal check after closing.

I just simply told him I was not optimistic about the sellers changing their terms, and he balked at that point, for whatever reason. I never lost control, I'm the one with the contract open at title afterall. I'm not relying on him whatsoever.

Jimmy -- That is completely my stance. "You are getting the contract as it is, bottom line." If you don't recognize it as a deal, then move on. If you have a simple contract change you want made, that's fine, but when you want a completely different contract, you're out of luck.

To answer your question: he wrote up a completely new contract and he was planning on giving me a deposit if the seller agreed to his terms

No, he balked when I mentioned that I wasn't optimistic about the home owner expecting his new terms (basically completely different contract).

I'm not sure why he darted so quickly, but probably best he did. We agreed to a sales price which would have made me (5K)

He did agree to pay me a deposit and write me a check after closing.

I'm still new, so I just wonder how often I will have to deal with this. I understand it has to work for everyone involved, but how often should I expect to re-negotiate with my seller the new end buyer terms?

As a rule, would you say most contracts are sold as they are? Or are there amendments made to alot of them by the end buyer in which you must go back to the seller and do their dirty work.

Also, what is a good strategy to lock on your assignment fee whether its the difference of end buyer sales price and original sales price or assignment fee, without disclosing the actual contract? It seems tough. Why would someone agree to take over a contract without seeing it?

I'M DEALING WITH THIS SCENARIO AS WE SPEAK!!

Have often does your end buyer investor try to change original terms of your wholesale contract? I've agreed to a price higher than what I contracted with for the homeowner but he's requesting other changes on the contract.
For instance I have an end buyer who wants to change/amend closing date, and option period, closing costs, and a few other things to his liking.

Obviously, I don't think this will fly with the seller since I'm (and/or assigns) already under contract with her. Why would she agree to less attractive terms than she already has?

I just want to know how often this may occur, and if I should even deal with it. IMO, if he doesn't agree to the terms I got with the seller, then move on and let me sale to someone who wants it more.
Advice?

Which title co should I use for my wholesale deals?

Thanks as always Jim. I am a licensed Realtor. Besides disclosing that I'm a realtor, what else do I need to disclose??

Thanks Tobi! Do you have a assignment contract I can look at? I'll shoot you a PM.

Good evening BP fam,

I'm interested in learning the proper (successful) way to market my wholesale deals to other investors without disclosing MY contract price and losing leverage in the deal. I'm talking through emails and phone calls.

Do I email my buyers list with an asking price higher than what I got it under contract for or just request a certain amount for an assignment fee? I need a good system to follow, and repeat.

I'd like to hear from other wholesalers or those familiar with the process.. Do you not disclose even an asking price and just provide your comps, ARV, repairs, location, etc and wait for offers or do you basically put a price tag on your contract and market it by saying something like "5k for assignable contract in Woodforest Oaks, 3/2, contract for 90K for property located at 1211 Oak Ln, 10k in repairs, 155K ARV?"

Let's pretend you go this route -- you advertise your 90K contract for 100K to all of your investors. How do you work in the assigment fee?

Please advise, I'm interested in hearing input about both examples, and how I would structure the assignment fee for the 2nd example without having to do a back-to-back closing!

:mrgreen: