All Forum Posts by: Samantha M.

For those of you who created a wholesaling business, how long did it take you to transition from your 9-5 job into working for your own wholesaling business full time?

How long did it take in months/years and how much money was dedicated to marketing/lead generation etc per month?

Thanks everyone

Out of curiosity, how many of you opt to use a property management company, how many of you do it yourself? Whichever answer you select why did you choose it?

Another way to put it is Property Management worth saving you time for %10 rents?

Soaking up knowledge from these forums at the moment. Stalking - er- reading through J Scott's post history to learn.

Have a question regarding the effective date of the contract. For instance, lets say I wrote up a contract yesterday, Thursday July 19th 2012.

The last party to sign the contract is today, Friday July 20th 2012. That means the contract and it options period begins the next working day? Which would mean the effective date of the contract is the following Monday?

Thanks in advance

What about Texas public record accuracy makes zillow comps poor in Texas?

So I take that as confirmation canceling enough during the 48 period will burn relationships and potentially mean less deals accepted in the future.

I was under the impression it was ALL done by a computer UNTIL the contracts were submitted. At which point the HUD listing agent takes over from the computer.

Thanks

Sounds like HUDs can be risky business. If one is wholesaling, they really need a solid buyers list before they begin, and good relationships.

Otherwise, if you are having problems finding that end buyer. You are going to become the motivated seller with $500-$1000 on the line.

Thanks J Scott!

Another question as well, what is the minimum earnest money HUD will usually take? 1% of the sales price would be my guess.

Steve Nicewarner yes exactly. I have an additional question on that 48 hour period as well. If you back out during this period do you burn a relationship with a HUD listing agent of some sort?

I was under the impression if a HUD bid is accepted on HUD home store it was an algorithm that accepts it, as in no human involved. Then 48 hours the contracts and earnest money are submitted to the HUD listing agent. At which point, after the 48 hours, if you were to back out you would burn a relationship

in sum
1) Backing out in the 48 hours burns no relationship
2) Backing out after that 2 day period after contracts/earnest money submitted does burn a relationship

edit: removed