All Forum Posts by: Nick C.

On market deals, being exposed to the market, should sell for the fair market value. That's why investors want to see off market deals, at least there's a chance of getting it for less than fair market value. Plus they've already seen the on market ones, everyone has. 

To answer your question, yes, having the listing agent represent you is a good ideal. You'll need to make sure your broker is okay with you doing this, as well as wholesaling. 

You're going to get a lot of pushback from realtors; remember they helped the seller set the price, and are not going to like lowball offers. And you're going to get pushback from buyers; the properties you're going to try to sell are on the market. This is a very difficult strategy. 

The most important skill of a good wholesaler is the ability to find off market deals. If you can do this, you'll have a good career wholesaling. If you can't, you're not going to make it, especially trying to sell on market houses. 

Yes you can only work with one wholesaler at a time. The wholesaler will put your property under contract and attempt to sell that contract for more money. Which begs the question, why not just list your property on the market and get more for it? 

Feel free to reach out with any specific questions.

I'm not an insurance expert, I can only speak from experience, but when I got a HELOC, they didn't even ask about insurance. I'd call around and find another bank to do it.

Get a purchase contract signed between you and the seller. Then get an assignment contract and assign the purchase contract to the buyer. 

4-5% would bring a stampede of buyers. I hope the lender you spoke to is correct! 

In our area around 10% of collected rent is pretty standard. 

It sounds like you have at least a few purchases under your belt and no longer need an agent to represent you. If you don't have an agent the listing agent should take you more seriously, because the seller will earn more, without having to pay a cooperating broker's commission. 

You mentioned paying the 3%, what does that mean? You're not on the hook for 3%, the seller is paying less in commission if you don't have a buyer's broker. 

They're cheap. I should know, I am one. 

 Are you implying that real estate doesn't go up in value, unless you purchased it in 2012?