All Forum Posts by: Britney Miller

It's always contingent upon clear title, and no liens, so let's say there was a lien we found out about after the fact, then if the buyer wants to back out of the deal they have the right to, and the money goes right back to them. So escrow holds the money until all is clear then it's released. As soon as we open escrow within 1-2 days we will know if there are any title issues.

Escrow wouldn't take anymore than maybe days to a week if your finding cash buyers, am I correct?

I can't see why it would take 20 days or longer if you have a cash buyer, maybe I'm wrong.

@Britney Miller:

Escrow is not going to find you a cash buyer. If we do have a cash buyer we usually can close in 10-14 days if there are no title issues

Thanks.

Yeah that was my point, if we have cash buyers then it shouldn't take very long for escrow to close.

Although 10 to 14 days is still kind of long to wait to get a check.

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Originally posted by @Bernie Germani:

Great question Alex Harris!!!

Escrow wouldn't take anymore than maybe days to a week if your finding cash buyers, am I correct?

I can't see why it would take 20 days or longer if you have a cash buyer, maybe I'm wrong.

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Originally posted by @Bernie Germani:

I was tired of waiting until the close of escrow, and a friend taught me a couple of years ago, how to get our wholesale within 72 hours. So the buyer actually puts up the EMD, and at the same time puts the wholesale fee into escrow... Thank you no more waiting 21-45 days for escrow to close.

That's awesome, thanks!

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I was always under the impression that you didn't need any earnest money?

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Originally posted by @John Thedford:

Originally posted by @Keith Belzner:

Posted by @John Thedford I could argue based on your post and never meeting you or knowing your character that you are doing the very thing that I am being accused of wanting to do in the future:

"If you sign a contract and have no intentions of closing, you are misleading the seller." "I signed a contract a couple months back and after inspection, I declined to close." "Spin the story any way you want."

You signed a contract with the seller without a full inspection then later when you looked at it in person and close-up that you wanted "OUT". You can say that in your contract you have an inspection clause but is that not an OUT just the same as finding a buyer or purchasing it yourself or HAVING THE SELLER KNOW , UNDERSTAND AND AGREE TO THE TERMS I SET FORTH.

I did not ask this question to get into a p.... contest. Im new to real estate and just looking for answers and yes I can handle criticism.

Nice job omitting part of the post. Why change it? Do you think that the words "valid reason" might affect the meaning? BTW, I am not accusing you of anything. I stand by my post: signing a contract without being able to close and /or having intention to close is more than wrong in many ways. My suggestion is: get funding. If you sign a contract, close the deal. This will go far in your career. Reputation is everything...or darn near it.

And where are you going to get funding from?

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Originally posted by @Ryan Dossey:

The it takes that long to wholesale and the number you need is totally bogus. I have averaged a 10k profit per home sold. That equates to a mere 3.5 homes to get your 35k figure. I also market for my own leads however.

What do you mean by marketing for your own leads? I thought as a wholesaler that's what you were already doing?

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So I'm very new to wholesaling. I literally just found out about it a week and a half ago.

But I'm starting to get discouraged by alot of the negative nancys that don't have anything good to say about it like this one.

I was watching a video on YouTube about wholesaling when somebody replied to me about a question I had.

+Britney Miller

"Oh, and don't quit your job. The faster you get investment money; the faster you'll have your money working for you. A job is the best way to get guaranteed money asap.

The people who do nothing but real estate worked for the first 10 years or so while getting in to it. No doubt. In order to make as much as $35k a year with wholesaling houses you'd have to w-sale a TON of houses annually.

We're talking 12 plus. It takes 2-7months average to whole sale one, and you aren't going to have enough capital when you first start out to be able to wait to close on your deals.

Diversify your real estate as you would any other investment. Rentals, flips, wholesales, and rent to owns. We don't tell the market what we need it to do; the market tells us."

Is there any truth to what this person is saying? Personally from what I've seen most deals close in about 7 days. I'm not sure where he gets 2 to 7 months from. And alot of wholesalers that I've been following are making much much more than $35,000 a year.

Thanks

Britney

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All Forum Posts by: Britney Miller

Britney Miller has started 1 posts and replied 7 times.

Post: Who get's their wholesale fee with 72 hours?

Post: Who get's their wholesale fee with 72 hours?

Post: Who get's their wholesale fee with 72 hours?

Post: Wholesaler newbie question

Post: Wholesale contract "outs"

Post: Does wholesaling really work?

Post: Does wholesaling really work?