All Forum Posts by: Joe Butcher

@Bryce Y. @Henry M. Im sorry if  I wasn't clear in what my question was.

Google this 3375 Merrell Road, Dallas TX 75229

This is the ONLY question I have: When a wholesaler is advertising a property that is listed on the MLS, and said wholesaler is advertising it for a LOWER price than the MLS listing, does that mean he actually has it under contract? If so, why is it still listed on the MLS? Does it just take time for the MLS listing to catch up?

I am not interested in buying the property. 

Thank you in advance.

@Sharad M. not sure. Now I am looking at a few different sites and some have it listed at $295K and one site says its pending.

What I want to know is if it's an active listing on MLS, how is the wholesaler advertising the property at a lower price while it is still an active listing? Are they using some sort of option contract?

I thought about posting this question on a separate thread but it seems appropriate here.

I get emails form one of the more well known wholesalers in my area. Very often the properties are also on the MLS. Today they sent out one for $285K. I looked on Zillow and it is listed for $309K.

How are they doing that??

I know a couple guys here that ONLY buy in war zones. They will buy sub 30K properties all day long. They swear by Section 8 and do very well with it.

Find some investors like that to add to your buyers list. 

Reading the contract (even the boring parts) is important. If you've never filled one out before, by all means, do a practice run or two or have a realtor friend walk you through it. 

I hear about some people using an addendum that contains what some refer to as 'weasel clauses" allowing you to get out of the contract.  There isn't a need for that if you just use the termination option. You can pay the seller an agreed upon amount to be able to terminate the contract for any reason within a specified period. 

Make sure you get the newest TREC 1-4 family. A new one came out in April.

https://www.trec.state.tx.us/pdf/contracts/20-12.p...

@Jerry W. yes you can have a membership and not give access to your address book, but beware...it will sometimes give you what looks like a login  but instead of asking for username and password, it asks for email address and email password. Kinda sneaky.

I haven't really benefitted from it....it's like Facebook for corporate professionals. I keep it around just in case my company does yet ANOTHER round of layoffs.

Welcome to BP!

@Cedric Casby yeah thats what everyone says about my name!

I read Rich Dad and it was very motivating and I can see the seminar being motivating to you and thats good.

I tend to be against spending a lot of money on seminars, but I'm not anti-seminar in general. I would just rather attend the ones put on by my REIA group. They are super cheap (20 bucks) topic-specific and put on by locals who you can connect with....I am attracted to the more grass roots, DIY kind of ethic.

That being said there is no rah-rah there.......the information that is going to make you money should be motivation enough.

@Cedric Casby out of curiosity, how much did that cost you?