All Forum Posts by: Trey Watson

Hey Nicholas I have had some success doing deals with agents. Let me know if I can help. 

I am also a wholesaler and have clients looking to meet new contractors.

As the wholesale agent on the other side of the phone requiring investors to come meet with me, the main objective of the meeting is disclosure, and to make sure the investor understands the contract, buying process and closing process/fees in detail. Also you should discuss your financing situation. If you're not open about it, or the wholesaler doesn't ask you then it could lead to a bad situation. 

Just make sure all of those topics are hit and you should be fine. 

@Tim G.

I REALLY want to write a lengthy response and shut down everything you just said but it looks like Kurt has already done that and I have properties to buy and sell. 

Bottom line- what you are saying is misguided and false. Classy move though. Thanks for the shout out. 

I work for a major wholesaler in Houston- headquartered in Dallas. We've been around for a while and close several hundred deals a year-just in the Houston location. I have a ton of respect for the independent wholesalers out there. That is a serious grind that takes real ambition to make successful. 

To be blunt- The problem many investors have with independent wholesalers is that many (not all) are viewed as unqualified or inadequate. Let's recognize the truth here, many people who try to start 'wholesaling' are only interested because of the low overhead to buy in, and the fact that you are technically not required to have any credentials to do so. 

This has created a large population of 'wannabes' that has flooded the markets with people who don't know what they're doing- which is dangerous. Real estate is not rocket science but you also can't figure it out in a day...or even weeks. 

What makes our company (and im sure many others) so successful is that we actively work every day to separate ourselves and our company from that population of wannabes. We do so through many methods but some examples are being a licensed brokerage, hiring people with education and experience, streamlining our processes and procedures, staying consistent with property output, practicing respect and integrity with clients, staying on top of the changing r/e laws, and probably most important- we stay on top of current market data in order to have an educated and in depth understanding of our market. 

So being able to liquidate quickly is what is important to you? Interesting perspective. 

some feedback would be grreeaaat

As oil slides and layoffs continue in the Houston area, I believe most r/e investors are making some form of adjustment(s) to their portfolios or the way they buy, or what they buy.

My investor clients seem to be all over the map in terms of their approach. I would say the most surprising statistic that I found is most of my clients are still investing in real estate in some way, and are not pulling out of the Houston market completely. That was refreshing.

I found the majority have backed off of the higher end flips and have moved into lower end flips(200k &below). Many have backed off of flips completely and are now looking for rentals only. I also have the opposite- several investors who were only purchasing rentals before, and now feel more comfortable moving into flips. 

Like I said, all over the map. I think it would be interesting to hear what the Biggerpockets community is doing to adjust their portfolios/strategy.

Scam is a strong word. I would however, say that most of the major events have some sort of product are service that they are trying to get you to buy. The best way to avoid feeling scammed is to attend the ones that are free and have the most people attending. There are plenty of them. You may be pitched at some point but no one is forcing you to buy anything. Just go, network and leave. 

-Rich club- Every 1st saturday or the month

-Jet lending @ texans grille- 3rd wednesday of every month (they even feed you)

-Holiday inn off JFK- last night was free.

Look on meetup.com- most of the reputable and free events will be on there.

A It certainly won't get your ball rolling fast but many of my clients used this method to get started in investing so I think its a safe way of going about it, especially with you living there. Let me know if you ever have any questions about single family rentals in Houston.