All Forum Posts by: Chrisna Ouk

Hey I'm virtual wholesaling and have a lead in Texas, I just now realized that wholesaling laws are different in every state, is it illegal in Texas to do a whole deal? I live in Virginia and am not sure of the legalities there.

@Jody Sperling Thanks so much for your reply, yeah time to grind harder for me then! I just got my first 2 leads today.

Alright so I just got my first Virtual Wholesale lead through digital advertising, I didn't call the seller yet because I noticed the address they provided is being listed by a real estate agent. I heard how you have to deal with the Real Estate Agent directly when trying to sell the house so they can get commission. I also heard I need a buyers agent to represent me if I ever acquire the deal???? 

Is that true? 

If so I have a couple questions regarding legalities:

1. Is there anything specific I have to do since this is a Virtual Wholesale Lead? 

(The property owner and agent lives in Florida. (I live in Virginia))

2. How should the contract(s) be dealt with, do I give the purchase and sales agreement to the Real Estate Agent or the Seller?

3. Do I have to find a Real Estate Agent to represent me for the wholesale deal? (The one who agrees to buy)?

4. Is there a certain clause I must include in a contract with a real estate agent?

5. How do I calculate profit with Real Estate Commission Fees (Do I just multiply the 0.06% percentage to the ARV/MaximumOfferAllowed?)

Those are the main questions I have regarding a wholesale deal with a real estate agent involved. I know they may sound like dumb questions sorry im a noobie, i've been in this for 2 weeks and really want to get a deal closed. 

So we’re in a sellers market and people are selling their house more than usual. But I hear lots of buyers are hesitant to invest / buy properties.

Is wholesale real estate still the same or as profitable like before the pandemic situation?

Just a question for the folks who’ve been in the game for quite some time.

How is Wholesale Real Estate affecting you guys?

Hey @Moises R Cosme thank you so much for your response. Just wanted to know if that situation is normal. I'm willing to put in the hustle and be consistent. Do you have any suggestions on how I can get quality leads? Like any suggestions of the filters I should add on Listsource?

@Jordan Deeney Hey, thanks so much for your answer, yeah that was really helpful. I don't mind going an extra mile to help rearrange a moving company. Do you have suggestions of a good company?

Okay, so I'm quite frustrated about Wholesaling, learning everything was extremely easy for me, I familiarized myself with Real Estate and the steps necessary to close a deal, I feel totally prepared, because I did, I decided to start Cold Calling people. I paid for leads on Listsource and built a list that's highly probable to obtain a motivated seller.

I narrowed it down to High Equity, Absentee Owners, Old Houses, Old Sale Date, SFR, Unknown, etc. I ended up calling 75 people within these past 2 days and only 12 of them picked up, but non were interested in selling their property and the other 63 people didn't even bother to pick up the phone...

Is this how it is trying to get leads in Wholesale Real Estate? Majority of the people I call don't even bother to pick up. I don't even have a chance to even talk to them and that's the frustrating part. So my question is, was it like this for you guys who started out in Real Estate? How many phone calls did it take you to get your first deal? Is calling this many people normal? Any suggestions of how I should get my leads that's highly effective?

Because this is quite tedious, Am I doing something wrong? Please let me know, thanks!

So I'm wondering how inspecting the house will go about when virtual wholesaling, lets say I live in Virginia and the house I'm wholesaling is located in Florida. How do I know that the seller is telling the truth about the condition of the property when we're in a contract? Would I just take the sellers word for it or send someone out to inspect it for me like a real estate agent or something like that?

Or what if its an older person that has no one to help them move out? Should I hire a moving company to help them?