All Forum Posts by: Danielle Spears

Hey guys, So I found a great deal on Craigslist. A fire damaged home selling for $12K. The comps around the home are $50-65K. Im thinking I can wholesale the house for $25K figuring in ARV. Not a bad deal right? I'm hoping the seller will just talk to me on the phone, let me know any more info I need, and then let me email him a contract to sign. Well I call him this morning and he's asks if I've worked on rehab homes before and am I a cash buyer? I tell him I've worked on a rehab team and I am a cash buyer. He then let's me know that when ever I am ready to look at the house he will show me property and have HIS contract ready for me to sign. What in the world? As a newbie wholesaler I'm at a lose for words. I just tell him okay and I'll be in touch. Guys, am I able to proceed with this wholesale deal if I don't bring a contract? Can I assign HIS contract between us to a investor I know? I'm just the wholesaler not the end buyer. Should I have been up front with him that I'm a wholesaler? Lately when I try to explain this to sellers they don't want to deal with me. What am I to do? I have to money to send out mailers, bandit signs, etc. Free sites like Craigslist are my only options right now.

@Kevin Hunter thanks for the info. That is great news! I would pay. How long is the typical closing? Would it be professional to have kids at a closing? No sitter or family to send them to and they will be kids (loud, happy, crying, hungry, bored (even with activities), etc.) at a closing office.

Hey everyone,

Closing is the best part of a deal and I am excited to get there (one day). However, my situation is very unique (I think) and I'm in need of advice.

I'm a work-from-home mom with one car. My husband needs the car everyday for work and is not able to be dropped of at his job because he works on a military base. So from 7am to 5pm the car is with him. With no other family or trusted friends where I live, I would not be able to have someone drop me off at the closing and watch my kids.

What am I to do?

• Do I have to be present at the closing in order to get paid?
• Do I have to inform both the seller and the buyer that I won't be at the closing table?
• Do I contact the title company and inform them I won't be there?
• If I can't be there will there be an issue?

Also, how are the contracts that I have from the seller and buyer sent to the title company? Do I fax both contracts to the title company (info provided by the seller) and state the property being sold? 

This is my first closing.

@Christopher Phillips dully noted. Never give up is the key. My success is right around the corner I believe. :)  

@Christopher Phillips thanks! My conversations thus far with these agents has been just that. No room for me or my investor to profit. 100 leads before I get just 1 right? lol

@Andrew Johnson I drove around a few neighborhoods to find the homes and then I web searched the address to find the last known owner. Yes the fact that I know the sell is ready from the Craigslist ads has kept me going after more of the leads. I haven't quite mastered how to get better leads on the fixer uppers I find, so I keep going with the Craigslist ads. I will keep in mind that the price of the sell on these Craigslist ads is the ARV (mostly) plus the agents or investors commission and they most likely won't budge for me. Thanks

thanks so much @Andrew Johnson ! As Stanley stated I will have to be flexible in my conversation. Valid point on why the investor wouldn't take the deal and try to sell it off. I can't wait until my email and phone are flooded with calls and emails from sellers wanting to work directly with me. Until then, I have these leads to go off of and a couple of fixer uppers I found around town that I haven't reached an owner yet.

I am very appreciative of the information you guys have shared with me. This has definitely expanded my knowledge.

Thanks.

@Christopher Phillips thanks! What about a deal with an investor? Would that make a difference?

I'm a newbie wholesaler and just want to make sure I can do deals with agents acting on behalf of the seller. If I do get into a contract with an agent do I have to pay them a fee?

When wanting to contract with the agent or investor (acting on behalf of the seller) is it okay to email over a properly filled in contract stating our agreement?

Would it be weird at closing that I show up with a buyer (that isn't me) and proceed with closing as if the seller knew that I am a wholesaler?

@Stanley Parsley thanks for the info! So an agent can sign a contract agreement with a wholesaler (me) that can be given to my cash buyer?