All Forum Posts by: Robert Hamilton

On podcasts and websites, Santarelli, 56, pitched his Laguna Niguel private equity firm, Norada Capital Management, which offered unsecured, high-yield promissory notes backed by investments in Broadway musicals, real estate and cryptocurrency.

@Scott Johnson I would agree with your comments in regards to the assumptions that most people make that MLS is the way to go. The wholesale route is not for everyone and I agree with many comment you will see on BP about the shady actions some wholesalers do give others a bad outlook. Wholesaling, or MLS for that matter, must fit the seller's criteria and situation. Wholesaling fits certain criteria that allows for cash offers or quick closes to be the answer as opposed to listing on the MLS. The latter may include accepted offers that fall through, repair contingencies, family disputes, 1031 contingencies, court approvals, etc. Ethical wholesalers provide a service that the seller feels fit his/her criteria based on the situation.

Many properties that wholesalers target, can't be listed on the MLS as-is or not without putting some in some capital to reach the ARV of the market area. Maybe the sellers does not want to put 50k in to update his 1950's decor to get the top dollar. Maybe he doesn't want to spend weekends out of his home in order for a realtor to show his property. Maybe he inherited the property from a deceased relative and he lives overseas and just wants it to be off his hands. So while many on BP go on and on about how wholesalers rip off the uninformed, there are many wholesalers with ethics that perform a service that is needed, maybe at a premium to the seller, but nevertheless fits their situation. Sometimes it is just a matter of convenience and peace of mind. Have you ever had room service and paid $25 for a hamburger that you could have walked down and grabbed for $10?

@Yutaka Tso I sent you a link to a video that I found very helpful.

Thank you everyone for your comments. In re-reading, I was comparing apples to oranges. If I understand correctly, the double close would negate the issue of "No Assignment". More costly of course, but still accomplish the desired result.

Thank you for the response @Jesse LeBlanc. I have a buyer's list already and I know what their criteria is. I am working a large wholesaler who regularly supplies with 5-10 leads a week in my area. They already have the property under contract so I am not dealing with the seller directly. 

I also agree with what you and many others on BP have stated in regards to certain wholesalers being less than honest in their dealings with sellers. 

@Duncan Hayes Understood Duncan. The reason I would be using it is because the seller has a "No Assignment" clause in all of his contracts.

I am fairly new to wholesaling. I would like to use an LLC as the purchaser, then assign my interest to the end buyer at the closing. My question is would I set up the LLC first having it on standby?

@Jason Orr I am in a similar place. I am working hard at educating myself and engaging with investors that are at a level I am shooting for. There are a lot of investors and groups out there that offer free and not-so free resources. @John Casmon has a great podcast as well as many others out there. Shoot me a PM for some of the resources I have been checking out.

@Bronson Simmons https://www.city-data.com/

@Toi Lind Definitely agree with this one. Father and son team that give away all their content for FREE! They post YouTube videos daily. And they actually work the business.