All Forum Posts by: 'Ty Taylor

LOL, I guess that's me, my definition of doing it all meant, LEASE OPTIONS, SUB 2's, RENTALS, REHABS, obviously there's more but that's what most are aware of.... I just hate to see people over think the process and don't just consult an attorney but a real estate attorney that has actually closed deals with an assignment involved which may be difficult to find sometimes.

I always recommend when starting out to piggy back off your buyers closing attorney or title company and it's easier to explain the process even if they've never done assignment before because they want to satisfy their client which is the buyer.

Just My 2 Cents But There's More Than One Way To Skin A Cat

I've done it all Bill but this is this a wholesale forum and I was giving my opinion worrying about nothing. These are the simply things that keep people from actually getting started and it's not brain surgery because you are not doing anything wrong or illegal.

Anyone should simply consult an attorney that actually handled assignments in their state.

Just My 2 Cents But There's More Than One Way To Skin A Cat

Marketing, Marketing, Marketing

Advertising, Advertising, Advertising

• Bandit Signs
• Direct Mail - Yellow Letters work best
• Bird Dogs - Basically paying go-getters to spot deals for you, normally $500 - $1000 after you get paid
• Website - Using Google Adwords or Bing market your site
• Realtors - but you may have to be more seasoned to deal with realtors because you will know more than the realtor in a lot of cases. Therefore, you will have to educate them on what you're looking for and your value to them in the future.

You can look for deals but you will need to be a very persisent person to avoid the level of frustration that can come with locating deals. This is not an easy business but a very simple business.

Remember Google and YouTube are your Friend if you don't know what something means.

I Don't Know Everything But I know How To Get A Check

First of all, you can be sued for anything but will it have any real merit. Your earnest money deposit will satisfy the contract if you don't perform. Of course, you can add terms such as an inspection period or partners approval.

I was advised by a 100% real estate attorney that ALL CONTRACTS ARE ASSIGNABLE unless that contract states it's not assignable. I only do assignments because I have nothing to hide. They know I'm not working for FREE.

It's all about relationships.

Of course, I'm not an attorney but I've wholesaled a few hundred deals over the years and I've never had a problem with a seller when I couldn't close and it will happen if you stay in the biz long enough.

That's one of the great things about wholesaling, it allows you to make mistakes and you don't loose your shirt. LOW RISK - HIGH REWARD biz.

JUST MY 2 CENTS BUT THERE'S MORE THAN ONE WAY TO SKIN A MEE-YOW

Ben is correct, finding a good deal is like finding a briefcase full of cash for a cash buyer that you will wholesale to.

Once you place a deal under contract with a seller you will then advertise the property but of course you can only wholesale that property to one buyer. The benefit of advertising that briefcase full of cash is that 20 potential buyers may contact you but you can only sell to one of them. As far as the other 19 that call, you will want to collect their info to build a database of buyers.

Such as:

• Name and contact info
• How many properties they buy each month
• Areas they like to invest in
• Price range
• Level of repairs
• etc

Always advertise your deals even if you already have a buyer for it because you can never have enough buyers on your list.

Buyer's are always getting in and out of the biz

Just My 2 Cents But It's More Than One Way To Skin One

Ed, I never use an assignment contract but 2 actual PSA's. I like for my buyer and I to negotiate a price versus an assignment fee. Reason being, the buyer won't know how much I actually have the property under contract for until the closing docs are prepared.

If that buyer has a problem with what I'm making then that buyer isnt someone I wanna do biz with anyway if they are concerned with how much money I'm making. The only thing that should matter to any buyer that I work with is, "does the negotiated price work for me?" It's all about relationships when dealing with buyers because you want repeat buyers but you are not doing this stuff for free.

The seller is not paying a commission because your buyer is paying the assignment fee. Again, they know you are not working for free and trust me, motivated sellers will not care.

JUST MY 2 CENTS - MORE THAN ONE WAY TO SKIN A MEE-YOW

Britt, the only thing that motivated sellers care about is can you close, it doesn't matter where the money comes from

Make it happen

Always go handwritten with yellow letters, your only goal is to get your message read or increase your open rate. Because yellow letters are handwritten or appear to be handwritten that will increase your open rate greatly.

Keep your message simple and direct.... Don't over think it

• Owner's name
• The property you are targeting
• Your purpose which is to buy their house fast with cash
• Your contact info
• Ask if they have any other properties they are interested in selling even multifamily

JUST MY 2 CENTS

Ive always advised my students to start in your name personally if there is a decision between getting started with a marketing budget or setting up an entity.

If you have the money to do both then definitely start with the entity.