What is the best way to make money? Experience Level Hello Mark, I’m new to wholesaling and have a so called mentor who fail to mentor. I got seller to sign contract, got bank to accept my offer, has buyer in place as well as title company has assisted. Now so called mentor has brought Conflict and is making it very difficult for me to complete the deal. The prehud sent to bank for offer has so called mentor company’s name on it however my name is on the contract with the seller(me being buyer). What would u advise. Thanks
Russ, I agree wholeheartedly. I believe in investing primarily for cashflow and making equity when you buy. Appreciation is the icing on the cake.
2 Hrs ago Volume & Scale In particular the wholesaler would still would have to be careful in advertising a property that they do not own. Doing so could cause the advertising to fall within the definition of real estate brokerage.
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Great points Contract (30) October 18, 2017 at 7:49 am All contracts should include the name of the parties involved, but when it comes to a real estate wholesale contract, the buyer should be certain that the seller has the actual capacity to sell the property. It is important that the seller can provide sufficient proof that they are the rightful owner of the property in question. In addition to this, it is important that the complete name of the assignor and the assignee, along with their signature and date is going to appear on the document so that it signifies the agreement of both parties. The signature of the parties involved is sufficient proof that the contract has been agreed upon, even if the contract is not notarized.
13 14 15 16 17 18 19 Hello, Betty. I’ve corrected the issue. Sorry for the inconvenience. (2) discloses the nature of the equitable interest to any potential buyer.
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Paul's cathedral|Wren, who had been the seventeenth century designer Start HereAboutPodcastTVBlog The Best Ways To Find Renters For Your Property Back to what I said, it’s about helping the seller get out of a problem or resolving an issue. What is immoral about assisting the seller? Would it be immoral for a real estate agent to broker the sale of a home and take a commission?
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I’m also not saying assignment should be used to obfuscate the true intentions of the investor. I assign contracts. However, I also tell the homeowners, at the first meeting, that I’m an investor. I explain our process and our business model, including the fact that we sometimes pass the deal on to other investors, if it doesn’t exactly fit our model for a flip. I write the contract showing “or as assigns” in the seller’s identity, even though it isn’t required in Texas. Why? Because I want to remind them we may pass this deal on to another investor. Then, if we do decide the deal isn’t a good fit for us as a flip – and there may be any number of reasons – and decide to wholesale it to another investor, I personally call the sell. I explain to them that we have indeed passed the deal to another investor. I provide an introduction and share contact information. I also give them my personal guarantee that I am still there for them, should they have any questions or issues. I give the same guarantee to my investor buyer, should they have any issues with the sellers.
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Woh Brother! Stepping it up a notch I see. Excellent work. I get questions about assigning contracts all the time and you really did a great job explaining it all.
In my bird-dogging, I’ve created a list of addresses of vacant homes/homes I think are vacant and I would like to reach them on the phone. Any suggestions of how to get that conversation started?
Once you find a deal, you need to understand how to sell it to make your profit. Here are four ways you can structure your wholesale properties.
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Once you’ve identified a property that is a good deal and it is time to convince the property owner to sell the property to you and sign your contract. This step is important because it will be how you secure properties to wholesale and make a profit.
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Q1. What $$ dollar amount is considered significantly below market value for houses and what is the highest value to deal with for Contract Assignments?
Alright, now let’s say YOU are a Realtor and YOU want to wholesale houses, what do you do? The Pendergraft Firm, LLC.
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