All Forum Posts by: Allen Ayres

I was thinking about using an option when the seller and myself could not come to an agreement on price in a wholesale deal. For example, if my highest price was 60k and the lowest the buyer will go is 70k, could I sign an option at 70k and tell the seller I will see what I can do with the 70k sale price? I would put in the option that if he sold it before I exercised my option then the option would be cancelled. Has anyone done this and has it worked?

I wish I could offer a 5 day closing and no contingencies but I just cant. I am new to this and dont have a ton of resources or buyers on my list. I can not say confidently that I could close that quick. 

I have an appointment with a seller coming up. He has several investors coming to look at the property at the same time and they will be making offers I am sure. What is the best way to handle this situation and improve my chances of getting my offer accepted over the others?

i wish I could filter by equity but I am in Louisiana and when I try that I get zero results. Louisiana is a non disclosure state and it is my understanding that a lot of information like that is not available here.

I thought about using zip codes for this purpose, but there are very few zips where I market. There are maybe 8 for the 2 cities Im working in and since Im doing such a small mailing even if I mailed to just one zip I would have well over my 300 letters. This would still create the problem of possibly re-buying the same list. Are there any other factors I could use or another way make sure I dont re-buy some of the same leads?

I have been getting a list of absentee owned homes from listsource. Total results I get in my area is close to 10,000. I am not able to buy that many names or mail that many so I only bought 300. My thoughts was to mail those names every 30 days a total of 3 mailings and then buy a new list. My question is when I buy that new list how do I avoid getting the same list that I mailed previously or does it matter? Listsource will only keep my list for so long before they delete it and then I cant suppress those names from new list.

I have a couple questions about assignments done in a wholesale deal. I have a deal under contract and plan on selling through an assignment and just want some clarification on a couple things.

1. How do you present that you will be using an assignment? Does an assignment turn a seller off?

2. Do you show the buyer the filled out contract they are being assigned to?

3. If you need to go back and renegotiate with the seller, do you do this before or after you sign the assignment with a buyer? I may do this to try and get a better deal but my assignment contract mentions the date of the contract and that it hasnt been changed. Sounds like this might rule out addendums to the contract and that I would need to renegotiate before I sign an assignment with a seller.

4. Once assigned, if the assignee defaults am I held liable in any way or is that passed to the buyer?

Thanks in advance

What is the best way to schedule showings when I work full time? Its hard for me to go to the property every time I get a call about it. I tried but it is becoming very trying on me. Could I just schedule several showings on one day like a Saturday? This is what I want to do but I am afraid it might cause me to lose some deals.

So it would fall back on the seller and he must pay any liens. If the seller refuses to pay any liens and the contract must be cancelled, How does that affect the buyer I lined up under an assignment contract? Since all my rights are signed over to them then they would just cancel the contract and I would give the buyer their assignment fee back? Would this cause me to get a bad reputation if this happened?

So does everyone do title searches before they get a buyer? Sounds like that could get expensive. That's why I wanted to check for myself first. If I get a buyer, then a title search and find something that could hurt the deal, how do I handle that? I wouldn't expect the buyer to be responsible so would that come out of my profit? I could renegotiate with the seller to reduce the price through an addendum to the contract but is there a problem with doing that after I already have my contract signed? I know my assignment mentions the date of the contract with my seller and didn't know if that would cause a conflict with writing an addendum after the assignment date