Here’s a quick look at a typical eight-hour day for a full-time real estate wholesaler. There is no clear answer that provides certainty for wholesalers doing business in Oklahoma. The Oklahoma Real Estate Commission has sued wholesalers in the past for not having a real estate license, but the question of whether a wholesaler owns a house under contract has never been answered by the Supreme Court of Oklahoma. The only guidance comes from a 1994 Cleveland County District Court case and the unofficial “policy” of the Oklahoma Real Estate Commission. Published on December 19, 2014 March 15, 2017 at 6:45 pm FREE BOOK ►►► I saw a comment on one of Dave Ramsey Show where a guy quoted him to be advising folks to make sure they have $100,000 in disposable cash in order to get into flipping houses and to be ready to lose all of it. This is not true. It's another half truth half lie. A lot of regular people who have becom ...… Exam Prep Richard Tancreto on August 6, 2015 5:59 am Video Content As with anything, there are pros and cons to every approach. Next, buying discounted property through patient tracking and buying of properties is the next easiest money I have made. Like when I bought a $20,000 house for $2,800. Nuts, but true. Or, like the $20,000 purchase with 100% owner financing which was resold via lease option for $39,000. Shows Schedule Call Us Today 8000 IH-10 West, Suite 600 Small Real Estate Development & Property Investing: How to Become a Real Estate Developer and Acquire Property Wholesale! Mark Ferguson February 9, 2016 Seth, quick question: On your Purchase and Sale agreement in the closing date section you discussed changing the wording for those instances where I intend to option or wholesale the property. Say I want to have four months to try to sell the property is the following wording okay, “CLOSING DATE: Deed and possession will be delivered to Buyer on or before closing date not to exceed 120 days from receipt of signed Purchase and Sale Agreement .” Yes it does and thank you for the fast response. However, I brewed up another question in my mind awaiting your response. Now, it’s very likely that in the time between getting the purchase agreement signed and closing, the seller continued to not pay taxes and/or his mortgage and/or his sewer and water, etc. Is it as simple as creating a separate clause in the contract stating that any additional back payments accrued during the closing process will be paid by the buyer, as well? Don’t you run the risk of getting sued if you do Georgia A. Weaver Great Information. I am in Real Estate, but was not aware of some of your suggestions. Very Informative. Hi Phil, Personal Finance103 John Marion is the agent who buys houses in Cherokee County Georgia and throughout North Metro Atlanta Training Video Many thanks. $14.99 I just feel like saying assignments suck is silly when you did one and failed? That seems like you aren’t willing to do the work to understand the tool. You just blame the tool rather than taking a look at your process and how you could improve it to better use the tool. I will give you a big hint THE TOOL ISN’T THE PROBLEM. I also have a little phrase that says, “End or assignee.” This gives me the right to assign my contract to another buyer for a fee. The concept is to put a property under contract at a significant discount using your purchased paperwork, and then flip that paperwork to the final cash back-end buyer for a fee using a one-page assignment form. Learn why a cash-out refinance is a smart option for home improvements Better Mortgage Wholesale, Fixer Uppers, Retail, Cash Flow & Turnkey Houses $35,000 a year Barbara wallace on September 8, 2015 7:22 am Forgot password? Hey Kristy! You can find them by asking a local real estate agent to pull cash sold properties in the last 6 months and send letters to them to see if they’d be interested in off-market deals. You can also use Your buyer doesn’t know what you paid for the home, only what you’ve offered to sell it to them for, which is an acceptable price for their needs. When making an agreement I’m sure you’ve heard if its not written down then it wasn’t part of the agreement. This is correct for your wholesale agreement contract as well. Here are a few clauses we use in our contract to make sure we clearly convey what is agreed upon in the contract: RECENT ARTICLES All Articles by Than Merrill | @ThanMerrill By Brett Snodgrass updated January 26, 2016 Real Estate Wholesaling Well said Robert,we all need positive energy. Jasmine Howell on September 1, 2015 8:46 pm Members Login © 2018 Fundrise, LLC. All Rights Reserved. eREIT, eFund and eDirect are trademarks of Rise Companies Corp. Proudly designed and coded in Washington, DC. FlippingJunkie Alex February 26, 2017 10 Cheap Stocks to Buy With Only $10 Sorry, there was a problem. Great book for anyone wanting to try their hand at wholesaling in real estate. It is a well written, easy to understand and very informative book with great transparency into Than's past experiences in the business. A great place to start with web links to follow on, a great place to start. Real Estate Adventures I love teaching my students my six simple steps to earning quick cash because it helps them picture the wholesale process from a higher level overview: Books in Smart Lazy Investor Real Estate Investing Books (2 Book Series) Hattie Dizmond on January 26, 2016 1:57 pm Already a Member? LOGIN See All REAL ESTATE chevron_right John Fedro on December 11, 2012 10:56 am Mélida on March 9, 2018 4:47 am There is too much buffering Full name Opportunistic: $167,000 Enter a promotion code or Gift Card merrill business investors investor learn informative starting helpful process follow understanding knowledge close useful comprehensive state builders program tips wholesale Click Here to Download the eBook Now! Name of Assignee and Signature                                    Date Wholesaling is the perfect way to get your feet wet as a real estate investor. Do you know your real estate wholesaling goals? As with any new business opportunity, there are both benefits and disadvantages to the process; make sure to evaluate the pros and cons before getting started. YPN Lounge HEADQUARTERS See House and Make Offer Related: Why investing in real estate and having a full-time job is a good combo Danny Johnson on June 10, 2013 at 3:56 pm (May 07, 2018) Stocks vs. Real Estate, What Is It To Be Wealthy, Interest Rates & What Jobs Tell Us About Rental Markets I would think you could accept the funds in any way – as long as you can verify that the funds have/will clear your checking account (and a cashier’s check would be a fairly solid way to do that). 6 Keys to Reverse Wholesaling Success Brandon Turner on September 3, 2012 9:16 am Online Entrepreneur/Website Resources 8 Biggest Mistakes Real Estate Agents Make (Free eBook) Thank you. I am a beginner and i want to learn all I can to get started in this business. I would like to help people and help myself as well. 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