All Forum Posts by: Josh Rogers

I recently won a property through the auction site 'Xome.com' and I would like to assign the contract. Has anyone had experience in doing this with Xome? Are they receptive to adding an assign clause when signing the contract after winning a bid? 

Does anyone know of any thorough and reasonably priced title companies here in Chicago? Please post recommendations 

@Omar Khan, when you first started out, how did you acquire your first property?

@Omar Khan, so I would need to have the full amount available right there? I was under the impression that proof of funds and maybe a deposit were needed to at least get it under contract, then I could use my end buyers money to close the deal. 

I am paying for foreclosure.com, and would like to make my first deal through this site. However, is it possible to wholesale through foreclosure.com in the same manner as other methods such as being able to get it under contract, and assign it to a buyer within the closing date? Or do I have to have all funds available upfront?

@John Thedford, @Marvin McTaw, @Pablo Mendez, Thanks for the insight. I'll apply all of these

When negotiating potential deals with sellers, what are the general questions to ask from a wholesaling perspective? Could you give an example of how a typical conversation to get a property under contract would be conducted? 

@Marvin McTaw, I am referring to another method used for calculating MAO which is called the "Fixed Costs Method" This formula is similar to your, but it includes a few more variables such as purchase costs, holding costs, selling costs. Again, this is just another method for calculating MAO, however, all of the reading I have done has suggested that it is more effective to use this method as it includes what the end buyer will factor into his/her calculations.

However, it seems as if you have already established a good enough system with the standard MAO formula, so would you say that one is better than the other? If not, I will test out the standard MAO calculation formula, as simple is always better. My biggest concern is using the correct formula so that I can market a fair and competitive price to my buyers. I do not want to make a fool of myself by inflating my figures.

When figuring out a MAO, where do I get an idea of the buyers fixed costs? I know each buyer may have special agreements that may make his or her fixed costs different, so how do I go about getting this figure from a buyer who I may not have met yet?

When asking a realtor to pull comps, what are some fair means of compensation. For example, if we're talking money, what is a fair price? I want to find a go-to realtor for each of my areas of interest. What are some agreements you've entered into with realtors in exchange for comps?