All Forum Posts by: Brandon Dukes

@Syed H. I’m not blaming anyone. All I’m saying is if an 85 year old grandmother sign a contract for 200k to a wholesaler and that wholesaler re-assigns that contract to a Rehabber for 100k(300k-200k) and that Rehabber rehabs the property and sell it for 520k. Explain to me how is the grandma being taking advantage of when she walks away with 200k for a property that is in As-is condition.  

I agree with @Chris DeSisto. I think just an over reaction. If that same  85 year old grandmother didn’t want to sell her house then she shouldn’t have sign the contract. If she did want to sell her house herself and not use a realtor then she could have marketed the house and found a buyer herself.  However, since she went with a wholesaler that didn’t require commission, or have her do repairs. Secondly , she didn’t have to marketing to find the buyer. The profit the wholesaler makes is the cost of doing business. As long as you get the money agreement on in the initial contract then there shouldn’t be any confusing or accusing of  shady business practice. 

@Nate Marshall how was that person taken advantage of? If she signed the contract for 200k and got the money she agreed in the contract why would she cared if is sold for more. It wasn’t her job to find somebody to buy it. I would imagine all she cared about was getting rid of the house.

I would say what is holding me back from starting to flip is find reliable contractors. I’ve heard a lot of horror stories about them and its just really made nervous to pull the trigger.

I’m trying to really understand the market in Baltimore right now. I’m just getting into real estate and my niche right now is Wholesaling. I hope soon to do rehab/filling projects and invest in rental properties.