All Forum Posts by: Jim Means

Try Freedomvoice.com they should be able to help you at a reasonable price.

Happy birthday BP! You're changing lives. What a wonderful world now that you're in it.

I was of the understanding at most you & seller would go to a notary sign the agreement, notarize the agreement, give the EMD to seller, then take the agreement to the title company. Is that all wrong?

If you NEVER give the EMD to the seller but to the titel company, how does that work? Do you say I'll give $100 emd just sign here, They do, You say thanks and shake thier hand then head for the title company? Won't they feel like they just singed thier home over to a stranger, and got nothing?

Thank you so much guys for the great advice.

Hello Everyone,

I have a newbie question I hope some of you experienced wholesalers will answer, especially any wholesalers in TEXAS.

Ok, here’s the story

A newbie wholesaler meets a local buyer who tells him she would be happy to do a deal with him if he finds a cretin kind of property and gets it under contract. She gives him all her requirements for the property including the price (90k).

Later that week the wholesaler talking with an acquaintance who turns out to be a real estate agent learns the agent knows of such a property available (a pocket listing) for 85k.

Things are going really well right?

Here’s the question; If the wholesaler goes in to get the property under contract (accounting for the agent’s full commission) how likely is it in your experience the wholesaler {who doesn’t have anything near 80k personally} will be asked to produce “proof of funds” and if he is asked what would you advise him to do?

I would like to find out if there are any experienced wholesalers in the Lubbock area here on BP, who may be interested in JV deals?

You can put in an extension clause in your contract.  My contract says  "Upon payment by buyer to seller of a additional sum of $___________ cash or by cashier's check, prior to the expiration of the first option period, this option shall be extended for_____. "  I have up to 3 extensions available should I need them, and the seller is fine with it.  if I don't need them leave them blank. Each option requires me to pay for them but it's a small price if you get a buyer for your contract.  $20, $40, $60 for a 5k profit? I can live with that.