All Forum Posts by: Account Closed

Yes. Right. Wholesaling is simple.  All you do is find any old property that needs work.  Get it under contract.  Advertise it, and hungry investors line up to buy it from you.  All you do is scoop up the money that just drops in your lap.

At least, that's what all the "gurus" tell you.  I have to ask you, does that sound a little bit too good to be true?

If the answer is yes, it's because there is a little bit more to it.  

Pardon my tone, but wholesaling is coming under fire in a lot of states right now because of the irresponsible pulp that's been thrown out there.  It makes my job that much harder, because I have to overcome the damage done by those who believe it word-for-word, who don't know what they are doing, running around out there attempting to wholesale.  It threatens my livelihood.

I love wholesaling,  It's how I make my living. I invite and encourage anyone who wants to specialize in it, too.  All I ask is that you get with someone who is experienced at it and work with them as a bird dog until you learn what you are doing or invest in good training so that you do it properly.

Totally confused here...

In my experience, I have never gotten a "purchase and sale agreement" from a title agent.  I am the one providing the title agent a completed one for the title agent to open title and prepare the closing documents, etc.  So, you need to explain your post to me.

Second of all, I would hardly call a title agent who won't let you do an assignment "investor friendly".  That's about as anti-investor as you can get.

Understand it's not the title agent per se that has the problem.  It is the title agent's underwriter.  Find a title agent who isn't using the same underwriter, because every title agent who uses that one will have the same issue.

To answer your final question, any transaction involving real estate must be in writing.  That is the law in every state.  Moreover, you just can't unilaterally assign your obligation to another party without that party's consent.  If you are going to assign your interest, you must do that in writing, and both the assignee and the assignor must agree (sign the document).  It's no big deal. It's just another step in the process.

"Free" advice is usually worth what you pay for it.

Moreover, "Free" advice is some of the most costly advice I have ever received.

@Israel Ramirez

Sure!  Turnkey rentals are properties that are already up-and-running and cash-flowing positive with good paying tenants in-place.

They are called "turnkey" because everything is ready-to-go for you.  All you have to do is "turn the key".

You'll have to figure out what you want to leave in to feel protected and what you want to strike to make it simple.  That's a judgment call.

@Sharad M.

A good deal is a good deal. What does it matter if it is listed for less on the MLS? Why do you begrudge someone else making a profit? That is minimalist thinking.

If the wholesaler has it under contract, it is tied up and you can only buy it from that wholesaler anyway.

If you are looking to buy fix and rent or buy fix and flip and the numbers work, buy it.  If you are looking to wholesale it yourself, maybe it isn't a deal for you.

I have no idea what you are trying to ask.  Please clarify your situation.

Band-It has canned signs at a discount.  All you have to do is give them your phone number and they will print it on the signs for you for pretty cheap.

Know nothing about that course.  I do know some good ones. Unfortunately, I know of a lot of bad ones, too.  I'd talk to someone who has used the material who actually made money with it...at least enough to pay for the cost of the materials.

@Ismael Crespo Wholesaling operations have costs to them. Bird dogging doesn't.