All Forum Posts by: Wayne Woodson

I have heard of wholesaler's selling houses on ebay but never auction.com.

It's sounds to me like your problem is in lead generation.

To put it bluntly no leads = no leads, few leads = no deals and no constant lead followup = no deals. It took me 3 months to do my first deal after 3 years of on and off wholefailing. I finally said I am not going to stop until I do a deal and I did, I did a few more after that even.

My answer this thread would be don't. Some Realtors simply just don't get it or will just tell you it's illegal. Don't get me wrong, wholesaling can be illegal if done wrong. But usually isn't if you disclose and follow your states guidelines. Yes, you have the right to market a property as long as you have it under contract. You have what is known as "equitable interest" in the property which is how you can market it without a license. I even put have the wording "buyer has right to market property" in my contract so the seller knows that I will market the property.

Correct me if I'm wrong but I don't think a licensed agent can collect any form of payment from an unlicensed professional i.e wholesaler. Also doesn't any form of payment have to go through the broker first then the agent? Belinda are you trying to buy properties off of the MLS or work out an referral agreement with this agent? I am just kinda confused in your post here as to what you meant by"there was no provision to pay a standard commission but I would pay her a flat fee".

Listen to this man, he speaks the truth. Don't waste all of your time building your "list". Build relationships with the buyers themselves instead.

Like others have stated non circumvention contracts are your best weapon against this. Also you could cloud the title with a memorandum of option or memorandum of agreement but I personally have never used one. Here's why...

I am a firm believer in karma. When you start clouding people's title and taking people to court you open the door for people to file lawsuits against you, file Cease and desist orders against you, report you to the better business bureau etc, etc.

If you have a large website like mine or like to post your deals on places like Craigslist watch out! You really open yourself up to a lot of snakes who think it's cool to go around someone on a deal just to save a couple of bucks. The snakes are out there, you just have to keep the grass cut low. If someone goes over me on a deal I just blacklist them from my site and tell all my real estate friends about them.

I remember the epsiode on Flip this House where he and his brohter split. I personally would never sue my brother even if he did copy my corse to the t. This should serve as an exapmple that you can't just flip houses you need long tern cashflow as well.

Nope you are not missing out on anything. I had someone make a similar offer to me to which I declined. I got into this business to work for me and not someone else.

It took me 4 years before my business really took off. Thats mostly because I started then stopped and started again.

I agree with this and I will add that you have to keep going back every now and then and streamline. you know hire and fire people and manage your leads better. Faster response time for callbacks etc, etc.

I recently did a blog post about this but my take is this, just follow your gut feeling. You have to know when to talk and when to shut up. Too much info about what you are doing can kill a deal just the same as not enough information.