All Forum Posts by: Don Clark

I used one of Mark's other programs which basically gives you the tools to get started. It has all of the basics of wholesaling. For my understanding the "Flip Houses Like Your Hair is On Fire" is a full mentor guide with exclusive tools. It's cool to be concerned about what you're investing your money into, but I personally think you will always have a better chance trusting your gut. That way you avoid those mixed feelings from all of the mixed answers causing you to pull back and never take action. NO RISK, NO REWARD! Mark is ACTIVELY wholesaling which in my eyes is always a major plus. GO FOR IT!!!

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I recently had a broker send me a multifamily property and I'm trying to structure the deal. Are there any no money down strategies for MFPs? What are some key factors in structuring a deal? How much is too much?

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Originally posted by @Bill Berklich:

No - I've found for my area that data is woefully out of date.

Wow! Ok, thanks Bill!

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I understand zillow is inaccurate on their numbers, does anyone use the leads on the pre foreclosures? Are they up to date?

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Originally posted by @Bill Gulley:

And, you'll be spinning your wheels as banks won't be taking assignments, 99 out of 100 times, if at all.

Partner with real buyers in an LLC. Your job, find the deals, do the leg work, their job is to fund the deal and close it. Contract to buy in the LLC name and show good funds to do the deal.

Basically, you're birddogging the deal inside an LLC or you're wholesaling it, you cut comes out of the operating agreement, not an assignment of the contract.

Your LLC can spin it off, hold it, rehab it and sell, do what ever and the ownership is again through the capital account and operating agreements. A Series LLC is nice for this type of structure, BTW.

Otherwise, you're gonna be barking up a very tall tree. :)

I actually have my own LLC. Would you say that increases my chances?

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Originally posted by @Will Barnard:

REO and short sales are the most difficult to wholesale. If you choose to wholesale, I would suggest finding standard sales or direct market to motivated home sellers. Then, a simply purchase agreement with an assignment clause is all you would need contractually.

Is it true that through an LLC you can do a double close as long as you have a buyer on hand for a same day transaction?

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or Will...? I've been searching for answers all day.

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Sorry I'm still trying to figure out how to work BP. But yes I am referring to a purchase and sale agreement Will. Jon do you have any suggestions as to what steps should be taken? Guide me if you will.lol

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All Forum Posts by: Don Clark

Don Clark has started 4 posts and replied 11 times.

Post: Start a wholesale team

Post: Start a wholesale team

Post: Mark Whitten, MD area

Post: Funding Multifamily (4 units)

Post: Zillow

Post: Zillow

Post: Wholesaling REO's?

Post: Wholesaling REO's?

Post: Wholesaling REO's?

Post: Wholesaling REO's?