All Forum Posts by: Christopher Lyons

@John Thedford Then I need to see if they, in fact, have any ownership on title. That piece info was huge, I had no idea. I PM'd you let me know.

@John Thedford Understood man, I'll bring this to my bosses and see what they say. Thanks for the heads up. 

@Vaughn Smith I appreciate it, it's a little worrisome marketing on CL and FB to say the least from the unknown

@John Thedford Some how I knew we'd speak again man I read the FL statute 475.43 you sent me on Presumptions and makes all the sense and I'm getting my license at the end of the month. I've read some of your other posts on the topic and always learn when you talk so thanks man I love the corrections I'm always willing to learn from those who know more

@Michael Ablan Understood, I just started with the company a few days ago and wanted to get a beat on the knowledge base of some questions I didn't foresee having, thanks a lot for the advice.

@Brian Garrett I'll do my research on the NDA/POF now, and the FYI: that's why I am getting my license at the end of the month to avoid any problems. Thank you for the advice.

Hey BP community

Curious to see how others perceive this question. I've recently joined a local real estate investment team that Buys Homes all over the state of FL. I've been marketing out a few properties for the past week. I go on Craigslist, BP, and FB with a teaser description like "Fantastic Buy & Hold in (city) message us for further details and schedule a walk-through." 

I'm getting a lot of traffic and some are from vague "local investment companies" that are not on my personal buyer's list, now I don't want to speculate too much but after doing my due diligence on BP I find myself wanting to prequalify the unknown potential buyer before sending them a link on the property to avoid them stealing the property marking it up and selling it on their website. 

What do some of you do in lines of qualifying potential new cash buyers? I'll send them a cash buyer criteria template to see what they are looking for but don't want to put a lot of stock in assuming too much. What questions do some of you ask before sending links to the property?

Thanks, everyone. 

Chris

@Nick C. And is this the technique that leads people to come up with nonsense escape clauses, like John mentioned,  which screw over not only the homeowner but people like myself trying to deal in honest transactions? It sounds like much more work and stress than it would be by just doing it the right way. I've found this with a few properties leads I've called and got harshly rejected and rightfully so from their past wholesaler experience, Thanks man.

@John Thedford This is, if remember correctly, the exact reason Illinois changed their Wholesale laws bc someone conned a political leader's family member into selling the house for much lower than someone educated about the price would accept. Scumbags. I'm here to try and keep the reputation pure and learn some cool things and meet some great people along the way. You sent me the Statute for anyone unlicensed dealing in RE which I am taking my state exam at the end of the month. So thank you. 

@Sam Ally That's incredible, it takes so much more work to con someone than to do it the right way. I would love to see how you break down the numbers for investors for my knowledge and gain insight into what their preferences are. 

Thank you for the insight gentlemen and if any of you are free to get coffee or lunch (on me of course) it'd be very very much appreciated.

@Nick C. Curious as a new wholesaler, what are you seeing that isn't making the properties, you see put through daisy chain emails, actual deals? Anything that I can change as a new wholesaler in my tactics of finding the right property would help me help you? Are they buying to high, bad terms, locations, etc. For my purposes, since I see a lot of not doing their due diligence. I'm in central florida if that helps.

@Scott Johnson Hey Scott Thanks for the advice much appreciated. I'm connecting with people daily and looking forward to my first REI meetup in a couple of weeks. There are a lot of great people on here but always looking for local help to get an accurate view of my particular market area.

@John Thedford Thanks John, I'm currently enrolled in an Online course, about to take the Exam next month for those purposes to be exact. 

The ethics of some wholesalers has been a common theme in the articles I read and leaves room for legal issues. 

I have not decided on the need for an LLC yet, although I have not done any research on it yet but will. Any initial thoughts on an LLC?

I have limited funds at the moment but (cliche statement) will save enough capital to move into a new niche. Depending on the Orlando market. If there is a way you know of that would allow me to access more than 70-75% LTV, I'm all ears.

Where would I go to find a reliable resource as to the laws regarding wholesaling in FL?