All Forum Posts by: Doug Eric Gueirn

As mentioned above,by based on what I'm hearing, it seems that you intend to sell this property in bulk. To ensure profitability, it's recommended that you stick to the 65% rule when acquiring the property and then price it at 70% when presenting it to potential buyers.

 Its ALL about the numbers, nobody is going to invest, 250k to make 5 - 10k, or 500k to make 20k,,, PLEASE connect with those doing deals, learn then apply what you learn

Good luck 

There are numerous kind of investors. People that prefer appreciation, added-value, rental growth etc. You are looking more at turn-key properties. Decide what metric you're trying to assess (in this case it sounds like appreciation over time) and line it up with your buyers list. Some buyers maybe in your criteria - not all though. Do your own due diligence on buyers and their criteria.  

@Doug Eric Gueirn anytime you execute a contract as a buyer, you ARE on the hook for the purchase unless you terminate or assign the contract. Know what you are getting into before tying up sellers in deals. It could end badly and get you into legal difficulties. I recommend consulting an attorney and get more education on the process.

@Doug Eric Gueirn anytime you execute a contract as a buyer, you ARE on the hook for the purchase unless you terminate or assign the contract. Know what you are getting into before tying up sellers in deals. It could end badly and get you into legal difficulties. I recommend consulting an attorney and get more education on the process.

It sounds like you're jumping in and not understanding what wholesaling is. You have equitable interest in a property you can assign to an end buyer. First, stop thinking you are lying to sellers because there is value to be added by wholesalers. If it makes you feel comfortable, first, I will go the bird-dog route to connect with actual investors and buyers and go out and find deals for them. That will get you to experience doing off-market research and lead generation. Secondly, you must ensure you get the property at a considerable discount and have clauses on your contract to opt out of the deal. I have rebuttals if the seller asks questions about whether you are buying the property. Please send me a DM

 You'll need an assignment clause and make sure to be transparent with the seller on what your intention is. Ideally you'll have a buyer (or several) lined up already so that you're not just tying up the property without providing any value. If you do that you could cause financial damages to the seller and potentially find yourself in hot water (for example if they're facing foreclosure and your actions cause the clock to run out on them, or the market turns for the worse while you're under contract, and you don't actually find a buyer and don't perform on the contract, then the seller would be worse off than if they had never talked to you). You should talk to an attorney about the correct contract language/ assignment clause and all the legalities of wholesaling in your location so that you stay within the law. I wouldn't get legal advice on here, and wholesaling legally can be tricky.