All Forum Posts by: John Rodgers

I will start trying to wholesale in Santa Barbara County, CA & would like to know if anyone knows if it is a good place to even try to wholesale, because from what ive seen houses are starting at about $300,000, or does it really matter how expensive an area is as long as you buy low & the numbers look good for an investor.

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Originally posted by "gldayton":

I've seen some every where but. If anyone knows I'd be greatful.

Thanks!
Gary

I live in Lompoc & am also looking for REI Clubs in the area.

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Originally posted by "msedwick":

Hello,

I am a new investor who is getting started making deals - mostly wholesaling. I am looking for a good wholesaling course that would be on CD's that I could use as a learning and also a motiviational tool while driving around looking at property. I wore out my Carleton Sheets CD's and am sick of Dean Graziano's voice. I was wondering about Mike colins. Any suggestions? Thanks, Mike

I actually just bought his Wholesaling Houses for a Living course, so if you give me about 1 week or so I'll let you know if its worth it.

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Originally posted by "TC":

To bird dog, now that you have found the property tell an investor and get your payment. To wholesale it, put it under contract, then after you close the deal, sell it. In most cases you will not be able to assign the contract to a investor. So most likely you will have to close the deal. Which is fine, because the bank will pay most if not all closing cost.

Yeah thats the thing I have no money to put down, and I'm pretty sure I would have to put some money down right. Guess I can bird dog the property then, Thanks for the reply.

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I found a nice 2bedroom 2bath condo in southern california that is listed at 65% below market value, & would like to either bird dog or wholesale the property if possible, Im just not sure where to start with a REO.

Thanks in Advanced

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Originally posted by "mdprincess":

No, in this market you shouldn't have to put any money down (well, at least in AZ). You will have to indicate an amount of escrow deposit that you will be putting down when/if your contract is accepted (usually within 24 hours of contract acceptance). That amount can vary, but $250-$1000 is pretty standard.

No, you don't have to let the Realtor "know what you are up to", they will know anyway, by making the contract in your name "and/or assigns". It's YOUR contract with the seller, unless the seller already has a clause that they won't allow assignment of their property in the purchase contract.
Just make sure the 'seller' is not a bank, assignment of bank owned properties is rarely allowed, even with all cash deals.
In that case, you could just do a double close, etc.

Have you ever wholesaled a property before?

No I have never wholesaled a property, I'm very green when it comes to anything about real estate. Since I have no money saved up & my credit score is low I figured wholesaling is the way to go. Ive been doing a lot of reading here so I think I have a good idea of where to start. The reason I asked about working with a realtor is because I got an email from one with all kinds of properties, however some do say they are bank owned. I believe I found a goldmine because alot of them are priced 75% below market value. If you dont mind me asking what did you do when you first started?

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Oh ok I wasnt sure if it would be the same way as dealing with a seller. Would I have to put any money down dealing with a real estate? & Should I let the real estate agent know what im up(meaning let the agent know I plan to wholesale the property)?

Thanks in advanced

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How would you wholesale a property that a real estate agent has to an investor?

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All Forum Posts by: John Rodgers

John Rodgers has started 11 posts and replied 22 times.

Post: good Website for comps

Post: Contracts for California

Post: Starting my wholesaling Biz

Post: Any REI Clubs in San Luis Obispo County?

Post: Mike Collins -

Post: How would you wholesale a REO?

Post: How would you wholesale a REO?

Post: Wholesale

Post: Wholesale

Post: Wholesale