All Forum Posts by: David Rosenhaus

Never buy a car from a used car salesman - They are all scammers.

Never hire a coach - They will only take your money and not teach you anything.

Never go to a mechanic - they will all rob you blind.

Yes, there are a boatload of dishonest people in EVERY industry (whether they take ethics courses or not). It doesn't make the entire sector bad or wrong. Those of us who work honestly with full disclosure to sellers and buyers may be a minority, but we do exist.

The real truth is that most new wholesalers are blinded by guru hype and too ignorant to know any better. The ones who take it seriously as a business will do their homework, and set up their businesses in a hundred percent aboveboard way.

Are there too many dishonest people out there and too many ignorant people out there? Of course there are. Just like in every other business that has the potential to make a lot of money.

How about we stop bashing and start educating?

@Leah Bonner

Put yourself in the seller's shoes. What would make sense to you in their place, without it coming across as intrusive, rude, etc.?

Unlike most other property deeds, a quitclaim deed contains no title covenant and thus offers the grantee no warranty as to the status of the property title; the grantee is entitled only to whatever interest the grantor actually possesses at the time the transfer occurs. This means that the grantor does not guarantee that it actually owns any interest in the property at the time of the transfer, or if it does own an interest, that the title is free and clear. It is, therefore, possible for a grantee to receive no actual interest, and – because a quitclaim deed offers no warranty – have no legal recourse to recover any losses. 

I have an abandoned building and the owners phone numbers and emails don't work. Obviously I will send mail to his out of state address. But my question is this: relatives phone numbers show up on the report. I feel a little funny about calling them. Do you normally call relatives if you can't reach the owner of record? How do you approach that? Thanks in advance.

Experienced wholesalers... Do you prefer assigning the contract or double closing? And why?

I have been looking at JV agreement samples online and I have a big question. Almost all of them state that the agreement is for the purpose of selling the specific property. Wouldn't that be illegal? Aren't you selling the contract, not the property? Am I wrong about this or is it that I'm only finding contracts that are written by unethical or possibly ignorant people?

Thanks for your help.

I can totally appreciate that. Of I'd be willing to pay for the time. I'm not looking for handouts or to waste anyone's time.

Thanks, Joe. Of course I would get as much info as i could on my own, but I know from LOTS of past experiences that book learning and real life are two different things. Especially for my first couple of times I would want (and be willing to pay for) a little hand holding.

Thanks, Peter, but as a noob I would be extremely hesitant in contracting without knowing the approximate costs. Margins are thin enough without me making a 10K or 20K underestimation.

Since I'm just starting out and don't know rehab prices, I will be wanting to bring either an inspector or a GC with me to view properties. What are your best recommendations for either in the central New Jersey area? Thank you.