All Forum Posts by: Brian Jordan

@Tamika Lawrence Podcasts are your best friend right now, lol. They're free and you can listen to them around your schedule. Guys like Sean Terry, Tom Krol, BiggerPockets podcast, InvestorCarrot podcast, FlipNere and tons of others. Listen hard and take notes. Are you completing your brokers requirements or just real estate agent requirements?

@Brian Jordan Sorry, can sometimes be overwhelming to Seller's

@Darrell Paden Lydia is correct although I chose not to use a realtor's contract as it's 10 pages long and can sometimes be overwhelming to buyers. I made up a 3 page contract that I go over, line by line, with the seller. It contains all the necessary verbiage and is a lots less info to digest for a seller. Once executed with the Seller, I can then provide that contract along with a single page Assignment of Contract to my end buyer. The end buyer, your investor, will sign the Assignment. Make sure you provide your original contract to your buyer. He's essentially agreeing to take your place in the original contract and needs to see what what the terms are to make an educated decision. Best of luck!!!

@John Horner PM Title

@Gabriela Pecunia Lots of good info in this thread. I'd like to add that as you build your buyers list, you'll be able to make larger fees. You'll also hear people say "Don't charge to big of a fee. Keep the investor coming back" I call bullsh*t. In this game, you need to monetize absolutely every lead to the max. The amount of your wholesale fee is irrelevant. The only number that matters is your price to the buyer and does that number make sense to your buyer. It shouldn't matter if you paid one dollar for the property or one dollar less than your asking price. I've made a few hundred dollars on bad deals and I've made over $40,000 on some. Don't sell yourself short on your fees. It depends heavily on the size and quality of your buyer's list. Concentrate on that and you'll see your fees increase. Good luck!

@Jacob Anstaett Welcome to BP!!! What areas are you looking in? I acquire deals throughout Franklin County and would be more than happy to add you to my distribution list. I've been wholesaling full-time in Columbus for the past 5yrs now. Let me know if there's anything you need.

@Khari F. I would say that the biggest challenge for me was getting a buyer to understand the concept and the reasoning behind it. I've only tried it twice and was successful both times but it's definitely more involved than a simple assignment. I would definitely put that out there with your initial advertising of the property so it's not a surprise to the buyer after they've looked at the property and invested time in to it. It will probably be easier with buyers you already have a relationship with as well. Best of luck!

@Christopher Carter What market are you currently in?

I list them prior to availability. Get a good pic of the front and any other finished areas and give a good description. I've had the best luck with a sign in the yard and Zillow. When you post on Zillow, it gets picked up by like 5 other sites. Best of luck!

@Account Closed - It really depends on the situation and both have their strong points. In Ohio, the law states you cannot market a house for sale that you don't own without written permission from the Seller. However, Ohio states that you can sell a "contract" as long as you're marketing the contract and not the house. Basically, they're saying that when you contract a house, you only own the contract and can sell it as you see fit. It's pretty stupid and I just feel like they make up rules as they go. I used to do all double closes and now I do primarily assignments because I'm saving $800-$1,200 in fees. Doing 50-60 deals a year adds up quick.