11am – 12pm (Deal Evaluation) bmmorice@gmail.com Todd Capital Millionaire Podcast While these risks are not enough to turn someone off entirely from traditional real estate investments, you have to know what you are getting yourself into before you make the decision. TRYING TO SKIRT THE LICENSING RULES Featured News There are many ways to turn a profit with real estate. Explaining to the owner that you are not actually going to be the person buying their house doesn’t have to be tricky or deceitful. If an owner is truly motivated, he won’t care who ends up with his property as long as he gets his money. Other people may care very much, especially if you are negotiating a subject do or owner financing deal. “Deadbeat Tenant Mike from Olympia- If you are reading this you still owe me!! I never forget! July 31, 2016 at 5:16 pm Shopping Cart / $0.00 My goal was to AVOID confusing Buyers, Sellers and Closing Agents about how this process works and to give myself the freedom I needed to feel comfortable doing these types of transactions. Over time, I've found that these attributes can go a long way in getting these deals done. If you’re serious about adding wholesaling to your growing repertoire of  real estate investing strategies – the opportunity is sitting right in front of you. Anyone know where I can find a Commercial purchase contract please? I’ve searched everywhere POST YOUR DEAL Last Updated on September 19, 2017 Robert Farrington 4 Comments 6.) Small Apartments – Another favorite of mine, small apartment buildings are made up of between 5-50 units. These properties can be more difficult to finance, as they rely on commercial lending standards instead of residential lending standards. However, these properties are excellent in terms of cashflow. They are too small for large, professional REIT’s to invest in (see below) but too large for most novice real estate investors. Additionally, the value of these properties are based on the income they bring in. This creates a huge opportunity for adding value by increasing rent, decreasing expenses, and managing effectively. These properties are a great place to utilize on-sight managers who manage and perform maintenance in exchange for free or decreased rent. At this level, real estate can truly become 90% passive. Katie on July 7, 2016 1:55 pm Then I’m simply going to open up two escrow accounts at the same title company that’s comfortable with double closing. Now maybe in your state you’re not using a title company, you’re using an attorney, you got to make sure that they’re comfortable with this double closing method. Your strategy of closing first and then reselling the property is fine; I’ve done that myself. However, if you sell the property within a year of closing, you will pay short-term capital gains. People should be aware of that. Hi Toi, FUNDING / REAL ESTATE That equity would need to be partially used up for their repairs and holding costs. But there should be the room in there that is the 20K profit that is the buyers goal that was given on the initial equation. That is why the home was bought for 55k instead of 100k. Current Issue March 2014 Fort Worth Office Presentation Folders Trading Positions February 5, 2018 at 9:30 am San Antonio: 210-714-6999 Ideally you want to have a list of buyers ready to go that you have met and networked with. You’ll contact your buyers and let them know about the property hoping one will spark interest in purchasing it. Then you would add $5,000 to the $70,000 and request a purchase price of $75,000 from them. Have a stipulation in your contract that states the buyer will need to buy with cash within 5 days. After the fixer agrees to purchase, then you go to the final and most important step. Wholesale Real Estate Learning Objectives January 10, 2017 at 1:26 am Tricks to Raising Commercial Property Value: Part I April 9, 2018 Supplemental Income DDE Interest: $26.47 (All penalties and/or interest) Redemption Total: $357.31. Windows 8 desktop, Windows 7, XP & Vista 80 Amen! [by the way, the assistant CEO and my former boss said, “He’s not a SERVER guy”, because both my boss and his Director ended up having to meet with them] Common Searches Wendy Patton Click to share on Twitter (Opens in new window) Of Paul's cathedral created Previous Miseryis household|the property of The Discount Property Investor Podcast has the latest information and techniques about wholesale real estate investing. David Dodge and Mike Slane share with you everything they use as Discount Property Investors in their daily business. We recommend becoming a Discount Property Investor. Our mission is to bring you high value content to help you begin investing in single family homes. Learn to Buy non listed or off market real estate deals and make profits doing it. The podcast will also co ... Many would-be real estate investors find wholesaling to be a great entry point into the field of investing. With its process of finding under-valued properties and either selling them outright or assigning the contract to a buyer — without doing any repairs on the property — wholesaling is a great way to learn the craft of real estate investing, while making money in the process. Saint Louis Real Estate Investing 2018 – Trends and Forecast March 16, 2018 I missed one deal from a wholesaler because I was too slow (day 3 on an email blast). That’s my fault, but it’s only one of 25 or so I’ve looked at and so far bought off the MLS. Great article, Brandon- really enlightened me as to what exactly wholesaling was, in a manner that was simple to understand. Thank you. This item: The Real Estate Wholesaling Bible: The Fastest, Easiest Way to Get Started in Real Estate Investing One of the unpredictable elements of land investing is that some properties will sell very quickly, and some properties will sit on the market for months on end (and it's usually ISN'T obvious what you'll be dealing with until you start the marketing process and try to find a buyer). Of course, there are a few indications that can give off some warning signs, but when you're working in an unfamiliar territory (like I was most of the time), this can be a tough nut to crack. What I am saying is this book is for you if you are truly serious about mastering RE options. What is the wholesale licence called? If I am to get one in Louisiana. Purchase price and financing: The purchase price, deposits and financing terms. 1M ago28:39 REPORT I didn’t say that buying assigned contracts was a bad investment. I said being the guy who is assigning the contracts was a bad business model. COURSES & EBOOKS Home›Real Estate Wholesaling›Why Assigning Contracts Is One of the Worst Business Models for Real Estate Wholesalers January 16, 2017 B Share This Story, Choose Your Platform! The most important real estate wholesale contract is the assignment contract because it states the assignment of ownership rights of the property to someone else without actually passing the ownership of the property from the seller to the wholesaler. When working on a wholesale contract, it is important that all the essential parts of an assignment contract are present.  The seller and the buyer can also add their own stipulations and terms to the contract, but these are the most necessary components to ensure completeness of the details of the contract. Here is my take on this blog piece, as this is the second piece I’ve read seemingly demeaning “assignment contracts”: Knowing the math behind a good rental LOGIN This is my specialty. You can make great money as an REO agent, but it is not easy. In this article, I detail what an REO agent does and how to list REO properties. If you are an established REO agent, you can sell many houses a year. I have sold over 400 REO listings in the last three years. Commissions vary with REO listings. I receive three percent on some properties and as low as one percent on other listings. My average commission is about a 2.5 percent on each REO that I sell. The REOs that I sell typically sell for less than the average sales price in an area. If I assume the average price is $120,000, multiply that by 100 houses, times 2.5 percent commissions, and assume a 90 percent commission split, that equals $270,000. Answering the phone Will This Effect Double Close Transactions? Hey Seth! Do you ever wholesale houses? If you don't explain your intentions to the Seller, they're going to get confused (and probably upset at you) because when you fail to properly set a person's expectations, things can get ugly. Natali Morris mentioned her real estate investments and we wanted to learn more. Today Clayton Morris joins us to explain real estate wholesaling. Industry News 1. How real estate wholesalers work with Realtor’s. How can you avoid this happening at all? You need to know your buyers. Once you are in the real estate community, you will know who is all talk and who is walking the walk. Some investors will tie up your deal and never perform. Within a short period of time, they get a reputation in the community. That’s why it’s important to go to investor meetings and talk with other investors. It doesn’t take very long for someone’s reputation to catch up with them. I saved up working capital (like you should with any business), and then once I had enough coming in to take care of my needs, I jumped in full-time. Wholesaling is right for people who want to get into real estate but don’t have the financial means to do so. It is also good for people with an eye for distressed properties and strong negotiation skills. Wholesaling will take a lot of time but it can reap significant rewards if done correctly. The best cash buyers are individuals who have bought similar properties for cash recently in the same area. But how do you find them? FSBO Guide 101 Stage 4: Outside Investor (Buyer B) Closes With the Seller and You (Buyer A) Get Paid the Balance of Your Assignment Fee Real Estate Market Today Pros Most of these explanations only got me about 80% of the way to the finish line. They never closed the loop on how to get through the closing process, abide by the law, get paid AND not be a scumbag along the way. The process outlined below seems to check all of these boxes and get the job done. Real Estate & Landlord-Tenant Attorney Start 2Day - Jackie Mann December 17, 2016 Rob Colville | Jan 17, 00:00 GMT Pros September 12, 2017 at 8:06 pm Realtor.com Think about it, if you have 50 buyers on your email list that means you have exposure to 50 people right? Shop Sign Post Stickers Home Buying Tips The Top 3 Newbie Wholesaling FAQs—Answered! The Best Investing Blogs Of 2017 (and more) News And Tips For Your Real Estate Business Telephone (required) The Best Months and Days to Sell a Home memorandum_of_contract.pdf Stock Market Listing vs. Buyer Agent Two Reasons Why People Fail at Wholesaling Are you a Landlord or a Planlord? Take This Quiz and Find Out! Real Estate Wholesaler FAQ Answered Email Marketing Follow Pauline Paquin on Twitter: www.twitter.com/RFIndependence Enabled MON-FRI 10am to 5pm Installment Promissory Note Different Ways To Wholesale Houses 45.) Bulk REO’s – Often times, banks will group together large packages of REOs and sell them in a package to large investment firms or wealthy investors. Home REI Business Tips & Tools Then on your “flip” where you are selling to your back-end cash buyer, you will again want terms that protect you such as getting a “Non-Refundable Earnest Deposit”, and an “As-Is” clause. Obviously there are many more terms you will end up using, but the point is: Articles I love vacation rentals. I don’t have any yet, but I can’t wait to get one in Hawaii or Southern California for that very reason. I’ve stayed in them on a number of occasions, but my favorite was a gorgeous farmhouse in the Tuscany region of Italy for under $100 per night. It was an incredible deal and an even more incredible place. 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