All Forum Posts by: Chaz Reid

Welcome to Bigger Pockets @Erica Brown

Mail it until they tell you to stop or add it into a rotation.

Roger that @Richard C.

Oh well, Ohio investors better hit the books... ??

@Richard C. So if they get a license, do the same things as a normal wholesaler, what's the difference besides them having paid for their license? It's basically a money thing from what I'm seeing. I work in NC so i don't really care about Ohio, I'm just curious.

So doing a double close sounds like a loophole to me...

Technically you'll own the property, then you'll sell the property.  What do you think @Ned Carey?

That's him though @Martin Scherer

When I interact with sellers, I put everything out on the table for them. I don't make any promises I can't keep, and one of those promises is never getting the house sold in less than 30 days. My contract is for 45 days and the seller knows that everything is based off my investors, not myself. They also know that if things don't quite add up properly, we will either need to agree to a different price, extend the contract, or exit the contract. So far as the 75 day thing, yeah... I am lost for words on his action. If you approach a deal and nothing looks promising in two weeks, you might want to reconsider things. I will completely agree with you when there are quite a lot of wholesalers that give us a bad wrap, but there are also plenty of extremely professional wholesalers like myself who try to educate newbies with the do's and don'ts of the business.

I'm currently working on getting a partnership started with someone who is in my market and I was telling him how important it is for our numbers to be correct because they technically represent our level of business ethics. There is no need to lie about things in real estate investing but don't bash people. I'm pretty sure there are crooks and horrible people who work with your niche but I wouldn't speak down about that niche because I know nothing of it.

And lastly, wholesaling is not acting as a agent if the seller knows how you operate. If you start off your business relationship with them under a lie, then that's a completely different story. But if my contract states I will not be purchasing your property but I will connect you with someone who will buy it and I collect a fee, how is that acting as a agent? I'm not getting a commission, I'm receiving a fee for contract and leg work. That simple...

Comps are what that particular area is selling for currently. Appraisals are what the house is worth at the time.  If you have a $100k house in a area that is selling for 50-60k, do you think you'll get that much off the current sales?

That's why you get properties that are lower than others in the market, not the opposite way around. You'll most likely get way less than $100k because of the neighborhood you're in. I've never personally seen an appraiser use comps before.

You're money is made when you purchase @Danick St Jean

Welcome to Bigger Pockets @Account Closed

Welcome to Bigger Pockets @Shelly Smith

Welcome to Bigger Pockets @Mike A.

Glad to hear that @Brandon Turner motivated you to get the PRO membership