All Forum Posts by: Account Closed

Looking for local wholesale distributors to cut my bottom line on residential rehabs. There is a home depot and lowe's near me along with several other construction suply companies but I want to buy from the guy the retailer does. I am aware about certain discounts you can get through home depot/lowe's through use of credit cards and coupons but I want to cut out the retailer all together and buy directly from the wholesaler, in bulk if I have to. 

I've been searching my area for over an hour online and haven't been able to find any wholesalers that are a "one stop shop" if you will. Any suggestions on how to find a distributor to cut bottom line? 

Thanks!!

@Brett Snodgrass You said that if you're assigning things, then you shouldn't have it on the MLS or Craigslist. Why shouldn't you be marketing the property on Craigslist? I can understand the MLS part because the wholesaler is not the owner, however I'm not grasping the Craigslist part.

@Alexander Zurn that's exactly how I've been finding out information on these properties! Found out how to do it about a year ago and it has made my life SO much better since! 

Thanks for the tips!

@Brett Snodgrass So you're saying that a property under contract CAN be listed on the MLS? Does the seller have to be aware of this? I also checked out your site, tried to get the ebook but kept getting "403-forbidden error" when I submitted my info.

Thanks @Paul Amegatcher, I reached out to you via email. 

@Jerimi Hoffhines This was helpful, but I noticed it mentioned closing THEN listing it on the MLS. So I want to find out if it's possible to list the property while it's under contract.

https://www.biggerpockets.com/renewsblog/2012/08/07/mls-sell-wholesale-properties-buyers-list/

@Jerimi Hoffhines It sounds almost as though you're playing the middle man between the seller and the agent. In this case instead of paying the 6% to the agent, it's whatever amount you two have agreed upon already.

So, she's going to be marketing it on the MLS trying to find you buyers? I was unaware that you could list properties you have under contract on the MLS. I've never heard of this being done before so I'm confused as to how this would work.

@Jerimi Hoffhines Are you saying that you and your friend have an agreement where she will list the properties you get under contract to sell them and will collect a fee at closing?

@Paul Amegatcher This has been one area of real estate that has often times confused me. I can see that something isn't clicking for me so I'll return to educating myself on it more before moving forward with any deal. I appreciate the feedback.

@Paul Amegatcher Understood. 

And if I do not have a lawyer approved purchase and sale agreement or an assignment contract then I need to get them from one correct? I cannot use one the I created myself or even use ones from this site in the fileplace?
When you're wholesaling, do you not need to get a quit claim deed from the seller? I understand that a warranty deed will be given at closing to the end buyer, but when would a quit claim deed come into play if not when you're wholesaling?