All Forum Posts by: Michelle Montilla

@Judy Parker One does not have to be licensed to wholesale. I have not lied to anyone. I simply wanted to assign the contract to an investor. Nothing that I have said is unethical. Wholesaling is not illegal. If that’s the case there would have been a whole bunch of millionaires in jail by now. The purchase agreement I use is from a wholesaler who has been doing this for over 10 yrs. Like I said I welcome the advise, information and opinions. I am being attacked because I asked for help.  

@Sylvia B. From my understanding one doesn’t have to have use their own money or have money to put a property under a purchase agreement.

Ernest Money will be passed on with the investor.  

@Brian Pulaski I welcome all the feedback I have been receiving it actually helps me.  On the contract I not only put myself on it I also stated “and or assigns” So if that person is in the business which he is because he already has an idea of me being a wholesaler because I already told him I have buyers lined up.  So he is aware of what I am doing. The only discrepancy we have now is that we would agree on the 30 days instead of his 2 weeks. I spoke with a big time investor from that area and They advised me to get it under contract And they will take over the assignment agreement. 

@John Teachout Great point! Thank you 

@John Teachout My plan is to assign the contract to a prospective buyer. 
I have not let the buyer know I am a wholesaler and will be assigning this contract. I was told you don't have to tell the seller you are Wholesaling only that you are an investor that is offering a cash offer. As far as providing a buyer with the home information, I was going to ask for an Ernest deposit and POF to set up an "inspection date" so the buyer can actually see the property.

I want to close on a deal so I can use that Money to get a property under a lease to buy option so I can rent out to college students.

@Jonathan Greene I want to first thank you for your feedback. I want to make it clear that I am not entering this business with the intent to trick anyone. As I stated, I am very new to all of this. I do have a title company that is “wholesaler friendly” in my state, and I also did my due diligence in that area of MO. with investors that flipped a few homes nearby which I was planning on reaching out to. Once the seller signed the purchase agreement I would have went to work on looking for investors. I didn’t even have a purchase agreement made up when I made the seller the offer & was surprised when he agreed on the sale price. I found one online and had it sent to him within an hour.  I appreciate all this information. I am also in NJ. Will you be able to give me information on a purchase order agreement that Will help me close on many many deals to come?  Thank you.

@John Teachout I saw pictures of the property and have been in contact with the seller. The seller did provide me with his title company so We will be utilizing them. First the seller said yes to the 30 days then texted me and said if we can change it.  I have heard of ppl buying properties “sight unseen” and also from out of sate. 

@Caleb Heimsoth I may have to. I am just excited because This would be my first deal. 

Rickey, thank you for the information. The seller recommended his title company which is ok by me because I don’t have an attorney nor do I know any title companies In the sellers state.  I will call his title company tomorrow to see what information they can provide for me.  I am getting so discouraged because this would be my first deal and ai just see it as complications.  

Hi I am very new to Wholesaling. The owner wants to close in 2 weeks. I stated 30 days on contract. Minimum work needed on property according to pictures and seller. Should I change it and try and scramble for an investor? I am doing this from another state so I don’t know any investors in area.  Property is in Missouri