All Forum Posts by: Kyle Weimer

Like everyone said, it's about your risk threshold.

And remember, there is nothing shady, immoral, crooked or unethical
about doing sub2 deals. Heck there is even a line on the HUD-1 for it.
Lenders don't like it, that's all.
Most sub2 that I have seen get found out have to do with the insurance changing names. Be creative with that and you'll probably be fine.
Just my humble opinion.

If they aren't motivated, why would they give you an option on their property? Maybe I'm misreading you.

I market heavily to out of state cash buyers. My last 4 wholesales were to out of state buyers. Like the above post states, a buyer, is a buyer, is a buyer.

One thing ill say that the others won't mention is that while wholesaling is a very active way to participate in real estate, it is a great foundation for anyone to have. It teaches you negotiation, a critical skill to acquiring any property at a discount that makes sense for your investment portfolio. It is a great foundation, for when you control a property, multiple exit strategies are available to you. You can sell to another investor, keep for a rehab project for yourself, sell it on a lease option, hold the property and sell it on owner financing to a retail buyer, etc.
Control is the key to any great real estate business, and if you become great at wholesaling you open the doors to ALL other avenues. Some of the most successful investors ice had the pleasure to speak to are all masters of negotiation. They understand the power of control without ownership, and wholesaling when approached properly teaches exactly that.

There are many reasons investors need Wholesalers. Some don't like talking to homeowners. Some don't have the time. Some don't want the hassle, they just like to buy smokin hot deals when they are brought to them by a wholesaler such as myself. Real buyers don't care if you make a little money in between as long as the numbers still work for them. Some don't like looking on the MLS for deals, but will jump on one I just picked up after a price drop that I have been watching for a while.
I Wholesale houses for a living, and still rehab a few houses. I started out rehabbing and know how that side of the coin thinks as well.
Wholesaling is a viable income stream, but like anything takes time to dial in and get good at.
My advice is to not worry about those who knock it. Most that knock haven't figured it out. Learn all you can and network only with those who will postively support you in whatever real estate niche you choose to pursue. Message me if you have any questions, Bitsy.
Good luck.

Answer is yes. You have equitable interest. On REO's thats exactly what I do with buyers. Agent gets me access and I show them the house. Simple. Nothing illegal or immoral about doing business in what was once a free and open market.
Go flip a house !

Just a side note. You don't have to do an LLC assignment with HUD.

I wholesale HUD's all the time and double close them all the time. It's very simple to do.

Yes

Simple makes the money. Always has.

@Bill Gulley, Sean brought up the topic himself and we did stray that way per his initiation.
Everyone is a policeman. LOL
So, so sorry!