All Forum Posts by: Corey Grindo

definitely wish I could be there. I will be out of town that week. Hopefully you guys can make this a monthly event! 

I'm new to the investment circle, but from my understanding the TREIA group is a good place to start. I believe you can attend individual meetings for a $15 fee. There are several different sub group meetings with the main meeting occuring every 3rd Tuesday of the month. I have yet to attend a meeting so I am unable to give voice to the quality, but the networking alone would be worth the fee.

I definitely would be interested as well. 

@Michael Jobe I definitely will begin building my buyers list soon. I don't really want to get caught in the trap of building this huge buyers list with low quality leads. I hope to connect with buyers on a more personal level, such as through the TREIA or even BP. I am of the 80/20 camp. I want to produce both quality buyer and seller leads. I feel that if I can do this then I can keep lost due diligence fees to a minimum. Having a due diligence fee would cause me to be more cautious with my offers, at least it's my perception. Also, finding a balance between how much to offer and time frame is something I am uncertain of. Have any info or suggestions?

@Becky Davis Thanks for the reply. I, too, believe that this DD fee will ease the sellers concerns with backing out of the deal. I think earnest money is great, but from my perspective doesn't really cause many wholesalers to have skin in the game since if they place contingencies that allow termination of contract with full reimbursement of the EMD, then the seller has almost zero insurance. Just my perspective.

@Mark Brogan thanks for the reply. From my understanding of the contract that is what the Due Diligence Fee is. It is monetary compensation to the seller in exchange for a due diligence period, the said compensation is non-refundable if the option is exercised and if not exercised it is credited to the price of the property at the closing. I definitely will make every effort not to mislead and I feel that using this fee as a method to prove that. The benefit of the due diligence period according to the contract is that the buyer may exercise their option to cancel for any reason, but at least the seller will be compensated for the time. I do not intend to mislead and will utilize this fee to ensure that any property I put under contract is a good deal for all parties.

I am currently an "investor in training" and have spent the majority of my time researching the ends and outs of wholesaling. I am currently located in Raleigh, NC area and intend to start marketing within the next month or so. So, there seem to be a lot of wholesalers that prefer using their own generic contracts to place houses under contract and while looking at the NC Offer to Purchase and Contract I was curious why it doesn't seem many utilize the state contract, considering it is assignable and offers a unique Due Diligence Contingency. My question is in two parts: 1) Any NC wholesalers utilize the state offer to purchase agreement successfully? and 2) Anyone use the Due Diligence Fee and Period as an 'out'?

My thought is to offer the seller compensation for placing the house under contract with me through the use of the Due Diligence fee. This would ensure the Seller is compensated for the time the house is under contract. If the house is assigned and purchased, the fee would be credited to the purchase price at closing. What are your opinions?

 Thanks for the warm welcome! My initial plan is to take the real estate pre-licensing course and attempt to get my real estate license. I feel this is my first step in the process and have yet to fully decide my path simply due to the fact that I have a fair tendency toward "analysis paralysis," so I am trying to limit information overload. But, my ultimate end game would be buy and hold. Cash flow is what I am looking for.

Hey guys,

I've been around the site for about a month now and finally made the move to post on the forums. I have been an avid listener of the podcasts for some time and have read the Ultimate Beginner's Guide to REI. I purchased J Scott's book on flipping houses and have completed about 3/4 so far. I thought it was about time to make my presence known. I have some construction background, but currently work in healthcare. I have been looking at real estate investment and consider it to be a great opportunity. Soon, I'm looking to connect with local investors either via the local REIA or any other means. I'm still in the education phase and hope to build at minimum a solid foundation before I jump head first.