All Forum Posts by: Jorge Caicedo

George-I've never done a rehab..I was referring to assigning the contract...I've had good deals that buyers passed on or had to go through a bunch of red tape to do..or if i had a contract it was like "Oh will you take x amt of $$$"? Deals where I could've made $5-10k Keep in mind these were deals where my buyers could've done great-but I've since come to realize that many buyers are greedy or give you the runaround..The wholesalers that are making $$$ only give me vague answers when I ask for advice or help...

Myself, I'm not that much of a masochist(which you have to be to wholesale apparently) so I'll stick w/ my day job until my music career takes off.

George, if it's any consolation, that's the main reason I've given up on wholesaling to make money...almost every investor I've dealt with did what you described..$@&&&& Wholesaling!

Mr Investor, you hit the nail on the head w/ regards to wholesale "gurus" btw....

Taz, do you have any examples where this actually happened? I know you mean well w/ the article but I have a hard time believing it..sorry

I thought wholesalers only dealt w/ buyers who were "all cash" anyway...like someone said on another post, it's highly unlikely a distressed seller is gonna bother w/ litigation against you...AND if the end buyers is a risky proposition, he shouldn't be purchasing propertiess to begin with and the wholesaler should do his/her due dilligence in regards to the buyers professionalism

Ryan, Robin is correct....When "wholesaling", you're merely assigning your interest in the contract to another investor for a fee...however, in regards to a double closing, that's just an alternative to assigning the contract

How can that be possible? Once a contract is assigned to a buyer, it's their sole responsibility, not the wholesaler..

Erick, that's interesting that you actually intend to close. I have yet to meet a wholesaler in my area who has that intention(of course b/c of day jobs, many of us don't have the time to clean and repaint a house, although I can see where that'd work for some people). I have only 1 exit clause and that's "subject to buyer's inspection and approval but to each their own.

My goal is to wholesale a few props so I can get out of debt and then concentrate on pursuing a music career w/ wholesaling as a hobby.

Andrew, while birdogging or driving the neighborhood is recommended by many investors and wholesalers, it's generally a waste of time and a lot of heartache..Your best bet would be direct mailand a website to find the distressed sellers..also Eric, that's interesting the statement you made regarding that you should never put a prop under contract you couldn't close on. I don't know any wholesalers who contract on a prop w/ the intention of closing..this is why there are "escape clauses"..of course that's not to say all wholesalers do that like me and my associates.