All Forum Posts by: Collin Boyer

@Jay Hinrichs some deals they don't and I don't have buyers for. They put it out to their list for a week before we post it on the MLS. If they have a buyer we aren't going to put it on the MLS because it is a lot more work for them to go through it for the little bit of extra money they will make.

@Jay Hinrichs he is connecting with the sellers in the beginning and bringing me the contract after it is already signed it is the wholesaler coming to me not the owner. If the seller is able to wait and does not need to sell immediately he will not pressure them he recommends them to an agent in the area their home is located since he works multiple states. He has brought me multiple leads that want to sell the traditional way because their service does not fit what is best for the owner but they still connected because they were interested in an offer on their home. We are in every way making sure the route the owner is taking is the best for their situation, he is in no way screwing over a home owner or misrepresenting any form of the process, he tells them he is going to sell the property for more with an agent and they are completely fine with that or they say they are not and then he will connect them with an agent.

Jay I am sure we have had a miscommunication along the way in our conversation and stereotypes do have a big effect on the outlook of wholesaler.

I hope you have an incredible holiday and you, your family, and your team stay safe.

Thank you

@Jay Hinrichs Sorry I think my wording was a little mixed up, he is taking care of the seller's side of the transaction: documents, scheduling, working with agent, reviewing offers, working with title company, etc. 

Not everyone wants to be involved in the complicated process of selling a home. If the wholesaler can close in a week because they need to sell their home and we can't sell the home for 2 months that is value. I think a lot of agents look at wholesalers in a jealous perspective and the perspective of "what value does he bring" because they are able to make significantly more money on a single deal. If you are doing everything ethically, making the owner the number one priority, and running your business like an actual business, their is nothing wrong at all with helping a home owner who is in a tough spot.

It is a great way for him to feed me listings. Three people are making money on a transaction instead of one or none and the stress of selling a home is gone because of the systems we set up.

If you could make more money on a deal and reach thousands of more people using the MLS legally, why would you not do it?

You are correct it is not an equitable interest it is a contractual interest.

@David Lee Hall, III not all of their deals get posted because of the situation. We have specific deals that we will post because we have the access to the property or the sellers agreed to let us do it. If you are not open and honest that is when you create issues, we tell everyone everything. I would rather have a deal go through but take a different buyer than get it done as fast as possible.

@Jonathan Greene the wholesaler is taking care of the whole seller side and the seller gets to walk away with no stress and the money they are promised. My wholesaler is an incredible person and not one of these new "wholesalers" a lot of the time I am in contact with the sellers and they are happy and excited to get more people into see it because they need to sell the property.

@Jay Hinrichs all of the disclosures are signed and they are very informed. We never do on market deals they are strictly focusing on clients who are actually distressed and need to offload. I don't work with the average "wholesaler" I am very strict about who I want to represent legally and ethically.

@Steve Morris the laws definitely vary per state.

I am an agent in PA, some states do not allow you to do this so please check your local and state laws.

My number one client is a wholesaler here in my local market of York, PA. He has brought me about 7 listings in the past month and a half maybe two months. In PA if you have a property under contract to purchase you have an equitable right to the property and have the ability to sign a listing agreement with an agent to put the property on the market (make sure you put you are allowed to market the property on the MLS in your wholesale agreement of sale).

We have been able to sell properties that they would not have been able to sell because they did not have access to buyers in the area and we often sell properties for more than they would have gotten for a normal cash deal. You need to be very transparent with the owner of the property because the situation could get very sticky fast if they do not know what you are doing. Not every wholesale deal is right for this option.

I could go on for a while about this topic because it has been so beneficial to me and my clients. Let me know if you have ever done this or if you have any questions I would be glad to chat about it.

Find an investor who does a lot of deals in your area and ask them. I have had clients come to me with hard money lenders that charge an arm and a leg (yes hard money is expensive but this was absurd). 

Some lenders are not lending hard money right now due to covid but if you find an active investor in your area they should know a few.

It depends on what you are looking for, for all of my clients buying a primary residence I send them to the same mortgage lender. For my investor clients depending on what they are buying I have a hard money lender ready to go, a few recommendations for conventional mortgage lenders, or they have their own and they are comfortable working with them.

As an agent their are a number of lenders I will not work with and I will express that to my clients. 

Depending on if you are looking for a good primary home lender or an investor friendly lender chat with an agent in your market.