All Forum Posts by: Dell Schlabach

Had two offers accepted on houses today, probably the two best deals out of the five for the month. ... one we got them to accept the offer before start of auction, a first. Just signed the dotloop docs a few minutes ago. I love Friday 13. 

Cleveland Indians tickets a couple times, apple pies, last christmas 250.00 in gift cards to Bone Fish Grill, Starbucks etc. 

I have a couple too!!

@Account Closed 

 Most competent wholesalers are doing direct marketing to owners whose properties are not listed on the mls.

There are a few, including myself that wholesale quite a few properties from the mls.  We do not put ANY contingencies in our contracts, except the occasional well and septic inspection. 

We also provide proof of funds so we are taken seriously.

The scenario that you are describing, wholesaler tying up an mls property and trying to resell with a second contengincy prior to the original closing, don't think you will find any successful wholesalers using such a strategy. 

I agree with the others, get it in writing. We bought a two acre property on two acres.  Was told by the listing Realtor and someone from zoning that we could split the lot into two one acre parcels. 

I didn't get it in writing, they would not allow it when the time came, due to the access drive being an easement across another property. 

Trust but verify, in writing. 

 35,000 lesson

@Kenneth Z. 

 You have Realtors that bring you deals, that you then negotiate directly with the seller? Are these off market deals? Houses they cant sell for list price and you negotiate short sales?

Can you provide a scenario or two of deals like this that you have done. Seems like I am missing a strategy. 

@Account Closed 

If the Realtor is looking to get both ends of the deal, they get the listing agent and the buyers agent commissions. You are suggesting you pay the Realtor part of your profits yet on top of that? Do you do that? How much do you typically pay your agent above the commissions he already received? 

I believe in helping those who help me as well, my realtor made roughly 140,000 from us last year and I didn't pay him any bonuses above the comissions. 

Realtors get paid by the seller, not by the buyer.

Am I missing something in your question?

You want to pay the realtor a bonus for bringing you a deal? 

@Frederick Freeman 

@Account Closed 

 You pay a realtor part of your profits of a deal? How do you structure that, what %do you pay them? Do you pay the broker or the realtor? 

If you are looking for listed homes, the mls is the most reliable. You can get a realtor to put you on an automatic email setup, so every listing gets mailed to you the day it gets listed. 

HomePath will only give you their listings, they are also on the mls, but not vise versa. Hudhomestore will give you all the HUD listings, again all the HUD homes are listed on the mls as well, but not vise versa.

Loopnet is designed for commercial listings, so not the source for single family. 

Welcome to BP, great site!

You are welcome to hit me up for prices we pay for projects, sub items or any questions relating to rehab. Have a bit of experience there :-)

I have to agree with @j scott, its one of the first things that was drilled into me by my private lender, former rehabber, when I started doing rehabs.

Any time I complained about a contractor I didn't get any sympytathy from my "mentor". The questions were always along the lines of; who hired him, whose responsibility is it, why did I let it go this long. Either the contractor doesn't understand or is incompetent. 

If he doesn't understand expectations its my fault for not communicating them clearly,  if he's incompetent its still my fault for hiring him and I need to dehire him quickly, and hire someone more competent.