All Forum Posts by: Ray Eason

Hello and good morning everyone.

I just read the comments in Aaron's podcast.

It seems that the Title Company must be willing to create the Escrow Docs for you as part of their normal business policy.

My Title company is refusing so I am not sure if it's because of the company itself or what.

Aaron's instructions are pretty straightforward and sound simple and reasonable but obviously he's working with some very capable people :)

So with that in mind, I am back to Fedexing the contracts to the Seller, having those documents sent back to me and then sending to the Title Company. The Title Company then creates the Escrow Docs and Instructions and sends to the Seller for completing.

I'm a but confused on one thing: A Title Company and Escrow Company are the same, right? The Title Company writes/drafts up the Escrow Docs, correct?

The reason I ask is because one of the comments from the podcast users the two terms as i they are not interchangeable.

But please correct me if I am wrong.

Hello everyone,

Great information here.

There are a couple points I would like to inquire about:

Wholesaling and Seller Financing. How does it work?

For starters, I'm a Wholesaler (a fairly new wholesaler at that).

I have a Seller who has a MFR, undeveloped land, wants to sell and is open to seller financing but the property is not free and clear (however the land is).

As a Wholesaler, I've been taught to get the deal under contract.

How do I orchestrate these deals to be able to: 1) Get the property(s) under contract and 2) assign the contract to my cash end buyer(s)?

 @Belinda Rodriguez

Yes. I always let the seller make their offer first. But until now, I didn't see the importance and power in it. To be obvious, I could never make an offer because until I talk to them, I don't know where the property is. 

But good info for moving forward.

Thanks Belinda :)

 @Tony Leighty

Thanks Tony!

That was some good info and food for thought. I've done sales before and subconsciously negotiated the terms but it's never been an active practice... well unless I was creating various packages and options with prices and costs associated with each.

Right now, I have a seller who is wanting $300k for her home. It's work $349k ARV (needs about $10k-$15k) in repairs.

I'm negotiating low and working my way up as I know she will dismiss the first few offers. So I need to incrementally work my way up while giving value to the increase in cash payout. But that process is going to require a little bit of scripted work on my end. :)

Hello and good evening everyone.

What's the best way to make offers to Home Owners/Sellers?

I've been told and taught to make low offers. 

I've heard, if you aren't intimidated enough (or scared) by your offer, then it's not low enough!

With that being said, how do you start low and allow the negotiations to begin if the Seller says, "No" to your initial offer?

I have a general idea how high I can go. I know I want to get the property under contract starting at 60%-70% of Market but what's the strategy for incrementally going higher?

I don't want to sound like I could have offered the higher price to begin with.

Look forward to hearing from you all.

 @Aaron Mazzrillo

Hi Aaron.

Love the fishing pic. After listing to your podcasts on BP, it makes the pic speak more than words! lol.

Quick question: How are you getting properties under contract without sending any contracts out yourself?

I followed your podcast and tool detailed notes (great stuff by the way).

I contacted my Investor Friendly Title Company.

They said they can fedex out or do mobile signing BUT they need a signed contract first before creating any escrow documents/instructions.

I explained the following:

What I would like to do is send my Purchase & Sale Agreement, along with, Affidavit of Equitable Interest contract, to you and have the escrow documents drawn up (based on those documents) and sent to the seller for signing, completion and return.

More times than not, I will be assigning my Contract to another buyer (via Double/Simultaneous Closing), having them complete a new purchase agreement (Assignment of Residential Purchase Contract) which will also be sent to you.

The new buyer will bring any earnest deposit money and closing costs will be paid by the new buyer as well.

What magic words are you using to get the title company to send escrow out without first having the seller sign documents?

Inquiring minds want to know! (and yes, I do remember that slogan!) :)

- Ray

 @Jonathan Wilks

Do you Wholesale, Filip, Rehab, Buy and hold...?

Does all of your activities (wholesale/flip) go into that one LLC?

So basically you are moving inventory  into and out of that entity?

 @Brad Bone

Hey Brad,

Out of the blue I just happen to see this thread while following up on another thread I was in. Ironic.

I am in Bakersfield as well and looking for some Investors to flip to.

If you are interested reach out to me and let me know what you are interested in and looking for.

I don't think I can post information in the forums.

Look forward to hearing from you.

@Darrie Bennett

Hey Darrie,

Thanks for the response.

I am not an Agent or a Broker but I have heard that in some cases, full disclosure is required (as in contract assignments). But not in Double or Simultaneous closings.

I am not sure if this applies to you are a Broker or not. But when I spoke with Title Company, this is what they said.

 @Don Konipol

Don, thanks for the input.

I have heard this before so it does make a lot of sense.