All Forum Posts by: Arktavious Sally

EMD aka (consideration), Maybe the guru left that part out in their swiss cheese expensive courses. LOl..

When doing a double closing there are 2 P/S contracts. One with you and the seller and the other one with you and your cash buyer. Your end buyer will not know your profit until after both properties closes when doing double closings.
When doing a straight assignment, normally your cash buyer will want to see and recieve a copy of your P/S contract that you have with seller. So they will see how much your making on the deal. As long as your cash buyer is getting the property at his/her price they shouldn't care how much your making on the deal (Normally). Doing straight assignments are much cheaper than doing a double closing.

No ignorance.. Joint Venture agreement explains your interest in deal and how spread will be distributed at closing.

Iris, I will only partner with another wholesaler if they agree to split the spread. If they have the deal and I bring my cash buyer or vice versa. No consultant fee..
Once your cash buyer raises his/her hand and say they want the deal then you and the wholesaler sign JV agreement and you bring in your cash buyer to sign assignment agreement.

Hi Iris, I would never let another wholesaler tie my deal up to find a buyer, that does not have the ability to close. If you have a great deal and no buyer, I recommend partnering (JV) with another wholesaler that will bring a end buyer to closing and you and the wholesaler split the spread. The only way I would let another wholesaler tie my great deal up is if I get a very high non refundable EMD at least 5k. Just remember, never lose control of your deal.
As far as marketing is concerned the Quality is in the Quanty.

@Joshua Dow 

Great questions..

1. You should always make as much as you can and still be able to deliver a great deal to your Investor buyer.

2. It all depends.. If I have a relationship with my investor buyer and we have done multiple deals together and he doesn't care how much I make as long as he getting the property at his price, then a straight assignment is fine. However, if I have never done a deal with a Investor buyer and have no relationship with and they are concerned about my profits, I will probably do a double close if my profits are above 10k or just continue shopping the deal to another cash buyer. Just remember your cash buyer shouldn't be concerned with your profits as long as they are getting a great deal, you are not doing this for free.

Wholesaling works anywhere people are buying and selling houses. The key to becoming a successful wholesaler is to control properties in areas that your cash buyers want deals. This business shouldn't be like playing the lottery.

Ned, I love that quote. "Everything works somewhere, Nothing works everywhere. 

@Christopher Williams
Implementation and Consistency is the key to effective marketing.

I agree Paul. Great Job Hattie