Maybe my first deal?

[Nick Mainella]

Hey Everyone,

So I have a lead from a friend who says the house next to them is for sale by owner.  What I gather from him is that it is a group of brothers and sisters that have inherited this house and it is free and clear.  I have an appointment to go see the house tomorrow and I have a couple of questions about how to proceed.

Another friend of mine (and the friend that gave me the lead) is a realtor and talked to them about listing the house.  They flat out refused and said they would only sell it by owner and didn't want to list it.  My question is this, I have a buyers list and I think some of the people on it may be interested in this property, I will know more once I see it.  Do you think I should explain to them that my intention is to shop this house around to cash buyers, who will pay my fee, and we can hopefully close quickly?  They seem to be motivated and the price they gave me over the phone is already pretty good without any negotiation, which will hopefully lower it.  

This may be a stupid question, but it seems unethical for me to offer them cash and tie up their property for 30-45 days without explaining my intentions.

Thoughts?

Nick

[Rick H.]

Just as you'll never get a date without asking, you'll never do a deal without talking to the seller (absent an agent representing them). 

What's tge worst that can happen? They slam down the phone or refuse you at the door?

Here's the attitude to take: you have a problem and I have the solution. Lets talk.

Investors buy and hold assets with the intention of creating a vehicle. Flippers are speculators. Wholesaling is not investing. It's lead generation. If you can tie it up and close, it's ethical. If you can't, you're a bird dogger.