All Forum Posts by: Pratik P.

That's a tough one.  As a wholesaler,  I would only assign a contract to you if I know you can close on it quickly without issues.  So if it was between you and one of my cash buyers,  I would assign it to the cash buyer.  

You could do one of 2 things. 

1. Build a relationship with a wholesaler and let them know exactly what you're looking for. Have all your financing in line from your lender,  ready to go.  So as soon as your wholesaler has something,  you can close fast without issues. 

2. Market for the property yourself.  Read into marketing strategies and start sending out direct mail. I'm sure you'll eventually come across something that works for you. 

I'd personally recommend the second option.  

I think wholesaling would be a personal investment operation since you're technically possibly buying the property yourself.  I don't see why that should matter to a brokerage. 

Hi everyone,

I've come across a possible wholesale deal with a very motivated seller but there area  few issues. So I turn to you guys for help!

The home's original owner had passed away 2 years ago. The daughter in law, who I'm in contact with, has been "in charge" of it since then. She says that she doesn't want it anymore and wants it gone (motivated!). Problem is, the property ownership is still under the original deceased person's name.

The probate office wouldn't answer this for me because they said it was legal advice. The property value would be <60k (it needs a ton of repairs). CA says you don't have to do the full probate process if property value is less than 150k. So can my seller skip the probate process in this case or does she still have to go through probate?

If it does have to go through probate, is there anything I can do to help expedite the process or is it pretty much out of my hands till probate is completed?

Thanks everyone!

You can definitely ask them "what are you looking for".  The questions Paul outlined above are a perfect starting point! 

When I initially speak to a seller,  I try to determine if they are motivated enough and if they would sell below retail.  When they initially ask me for a number,  I'll tell them it would be around___(60%Arv) depending on repairs.  If they are receptive to that, I move forward.  If they get offended,  I thank them for their time and hang up.  

Don't worry about their reactions.  All you should care about is making as many offers as you can and finding the motivated sellers.  You don't have time to worry about how your offer would hurt someone's feelings.  

I wouldn't suggest you spend time on learning how to day trade.  Here's what I would do. 

1. Read read read everything you can about RE. Especially about creative financing. 

2. Volunteer some of your time to work for a local experienced investor and learn from them. 

3. Get on loop net, zillow, etc and start analyzing deals. Everything from SFR to apartment complexes. This will help you understand your market and know what's a "good deal".

4. Start marketing and looking for these good deals.  If you can find a great deal,  I'm sure you can find a partner with the cash. 

Good luck! 

When I get sellers who want to sell at retail,  I refer them to an agent that I know.  If they end up listing with the agent,  the agent gives me a small referral fee.  

But it sounds like they first need to agree on what they want to do.  

My suggestion is to start focusing on finding sellers, because that's going to be the tough part. All you need is a few reliable cash buyers who are experienced and can/will close fast on a good deal. 

Hey Michael,  I've looked too.  The online system only goes by individual properties like you said.  I'm assuming they'll have an online list soon enough.  Other counties have such a system where you pay them $ per property. 

Del paso Heights should be an automatic deal killer!  Don't do it Dave!