All Forum Posts by: Mahmoud Y. Elhalawany

Hey there everyone! My partner and I have just closed on our first deal!! We have learned a lot but are forever in need of more guidance. Recently we have begun to add a lot of realtors/brokers to our cash buyers list. My question is this: When we shoot out properties and a realtor ends up bringing a cash buyer how does the commission get paid out? does it come out of the purchase price/assignment? or is it tacked on-top of the contract? We will almost always have the end buyer pay closing costs (There are rare instances where we will agree to split closing costs as part of a negotiation). The way we do our disposition is through a highest and best auction/bidding war on the contract, so assuming the realtor brings the cash buyer should we factor their commission into our calculations? will their commission affect our bottom line and or what the seller is getting is what i am asking. I keep getting different answers and it is really really confusing me.   

Thanks so much for reading everyone! 

Hey guys, We are looking for a new closing attorney in Greensboro, NC, any suggestions? We currently focus on contract assignments so the particular attorney would have to be comfortable with them. Communication is key here, as that was the biggest issue with our last guy, really, really poor communication. 

Thanks so much!! 

Yeah that was a mistake on our part, The issue was resolved and we closed with a different buyer yesterday, so all is well, but I am troubled at the performance of the attorney. He was the one who gave us that particular assignment of contract paperwork! One of his assistants also called us back several days after the incident and told me that the lack of disclosure was their mistake, and that they should have in fact been handling the termination of the assignment. Needless to say we are going to be asking for EM upfront instead of after the assignment is signed, and we will seek out a new attorney. Thanks so much for the clarification guys! I honestly do not know what I would do without the folks in the forums. 

We assigned a contract to a buyer who backed out of a deal and now we have a new buyer lined up. Unfortunately the old assignee is being difficult, our attorney can't give us legal advice because technically now she is his client as well. I need this woman to send in an informal letter stating that she is in fact terminating the contract, but as I said earlier she is being difficult. If this deal falls through as a result I am going to seek legal action against her. What should I do?

The people I use always ask for one name so I'll go with that, I'm also going to hire a VA next time and make sure mailing addresses are also submitted with the data to be skiptraced.

Thanks so much Chris, next time I will simply remove them from the list. What do you do when there are multiple names on title? I just use the first person listed. 

Hey there everyone! My partner and I have recently just locked up our first wholesale deal. I'm really excited but have a slight problem. Recently we have skiptraced our 3rd list, we acquired this list from the county foreclosure site, unlike the lists that come from our software program (propstream), these lists are completely unorganized. I went through and scrubbed the list by sorting out first and last names into two seperate columns and then replacing LLC names with thier registered agent from the SOS website. We skiptraced the list and the results are pretty terrible. I know it's not the skiptracing company as we have had lists skipped by them before and they are wonderful. I know that it's the government data. Has anyone on here ever tried to skiptrace one of these county lists? What did you do and could you point me to a resource that could help us out? Our whole bussiness model currently works through cold calling on records we get from the county, and then absentee lists which are smaller which we pull from propstream, if we cannot get the county lists to work then we have a large problem.

thanks so much 

Hey there Shamit, I am a local wholesaler in the Guilford County area, reach out to me on here if you need anything, happy investing! 

Burkely property management

Hey everyone, So I told the other people in the deal that we would require paperwork to go through with the deal and they flatly declined so we had to move on. Thanks though!! I am glad for the guidance on here so as to not do anything which would create liabilities or legal issues for our business.