All Forum Posts by: Jeff Fairchild

Yes, in a wholesale deal.

Also, is it correct that I would pay for an inspection but then the investor would pay for the appraisal? Why would both be needed? When would the investor order the appraisal?

How does any business compete with any other business, better value, better marketing.

Get a buyers list and learn many different methods of marketing and you'll be set.

Which begs the question, when do people on here decide to wholesale deals and when should you retail it?

There are lots of books out there about real estate options.

How much should I ask for an investor to deposit with me in the assignment contract for earnest money? Should it be a % of the wholesale fee?

I'm thinking that I would like to get as big of a deposit as possible to ensure that they would close on the deal. What is the most I could as for and would investors pay it?

Other than earnest money, what total costs will I have to pay out of pocket before closing?

So I put a property under contract and then open title. I'm guessing I don't have to pay anything to title company up front.

Then, I call an property inspector to come out and inspect the house. How much should that cost? Can I get that cost delayed until escrow? How? If not, I guess I could find a way to delay paying the inspection until my investor pays me his earnest money and pay it out of that. What do you think?

I would say as a wholesaler you'd be fine w/ doing (ARV-Repairs)X67% as the price you pay for the house. So you'd need to start a little lower to negotiate upwards. You may want to be conservative though with repairs and add 1-3k clean up costs unless your positive its in perfect shape.

Mike,

So are you handling the feces yourself at the moment until you find an intern? If so, is that paying you more per hour than deal finding?

If not, how would having your intern handle feces help him learn real estate, especially if he won't even be doing it when he starts himself.

Is it just me or is paying $18/mo not such a bad thing to get $36,100 equity.

Mike please send me your deals that you pass on, ill put that money on my bank and maybe cancel my netflix account while buying myself a nice new bmw.

I never thought of an end buyer dragging it out until my contract expires. So is that trust method the easiest way for me to protect myself?