All Forum Posts by: Matthew Rose

Thanks Bryan,

Assignment fee is $10K, which the buyer had no problem with. Based upon your feedback, I'm inclined to think we should just drop this deal and go on to the next....

I like hearing the you have done a ton of these deals. Not sure if you've heard of it, but our contract is from Kris Kirschner's wholesaling course (yes, a Guru, big surprise!). The contract structures in a small seller carryback note that the new buyer also needs to pay as a small added monthly amt., but if he/she defaults, seller has right to foreclose and take property back.

However, I've listened to another pro on BP, Jason Hanson, on his youtube videos, who also includes a clause requiring new buyer to refinance into a new loan within 5 yrs. Just wondering how that could be enforced, and what your thoughts are for how to best structure the contract to protect the seller (and your reputation.)

Again, thanks for much for your input and insight.

Hey Ryan,

This is a great topic you posted. I would consider myself a newbie to REI, although currently involved in a few deals. I have not been doing REI yet for a year.

One issue that came up once the heat was on and I jumped into my first (what I thought was going to be profitable) deal is that my exercise program just got scrapped. I had been back on the wagon and getting into great shape thru mostly weights & some cardio. Then got intense into the REI stuff and found it hard to maintain my early morning routine. In my situation, it's first thing early in the morning, or will never get done. By early, I mean waking up @ 5:30am.

I've been trying ever since to get back into doing something, even if only a 30 min. walk in the morning. I've actually considered getting a bike to use for doing 'riding for dollars', that way I could say I'm working out and prospecting at the same time :lol:

A full-time day job, wife & 2 small children, in addition to my goal of being successful at REI has it's challenges. If you include networking events and education, I probably spend close to 25 hrs/wk working on my business. That's in addition to my full-time job and husband/parenting duties. Nevertheless, I can't help but feel that I'm not as good at my game as I should be due to lack of physical activity. Your post has reminded me of that I need to do something about it, so THANK YOU.

I would like to put a plug in for weightlifting, or resistance training in general. For me, I've found I get the fastest and most pleasing results from this activity. The more I do it, the more I want to do more of it. If you read all the latest health and fitness info, intense resistance training is always mentioned as an optimal way to get into and stay in shape. Perhaps it also helps that I LOVE it! I plug my iPod in, get cranking, sweat, get pumped, and feel great!

OK, guess I'm getting up early tomorrow.....

Awesome and inspirational post! Thanks, just what I needed!

My experience has not been good. Leads were few and far between, hardly anything fresh. I've gotten better leads doing my own marketing. Perhaps my area (Hawaii) has limits to available leads for this type of service.

Aloha from Honolulu! Excited to finally be posting on this forum....My partners and I recently got a property under contract, structuring as a sub-to wholesale, which would be first for us. Already found a buyer (would be owner-occupant), but now all of a sudden the seller has announced they will be filing for Ch 7 bankruptcy! :cry: We knew that pmts. on property would be behind starting next month, goal was to get buyer in before then. Now what? Of course we will be honest with the buyer, just wondering if this is even still a deal. Not very knowledgeable about what can happen in a situation like this. House doesn't have a ton of equity, if any. How much risk is there of the house getting seized or foreclosed on, even if new buyer is good on making pmts.? Appreciate any advise, opinions, or comments. I don't mind feedback whether positive or negative, still fairly new at this.