All Forum Posts by: Dustin P.

I appreciate any call I can get where there's an opportunity to make money. I always ask if they have a deal they're looking to sell currently, and if not then I ask to get put on their list. I'll comp their first few deals and give my feedback and my number (Or if I can buy it then I'll just put it under contract) and see how the relationship develops from there. If you get irritated about receiving a call you're probably in the wrong business. Signing a non-disclosure or providing a proof of funds is not an issue

1% is typically the standard here in Phoenix as well but really if you're a cash buyer like you say you are then 15% shouldn't be a big deal, as long as you have an inspection period you can get it back. I would also recommend finding a cash buyer to partner with to put up the money

Welcome Paige!

Sounds like someone who is still looking to wholesale but more co-wholesale; they're going to grab someone else's deal and send it to buyers without actually having the deal under contract themselves

If the deal is there and you have people in mind you think would buy it, put it under contract. Worst case scenario if you're off on your numbers you can go back and renegotiate. I would let the seller know though that you aren't capable of closing on the property but will be bringing a cash buyer to the table

An agent can either bring you a deal (Pocket listing) and keep the commission for themselves or they could bring you a buyer. The value they bring is that either the property or the buyer is already vetted, the seller or buyer is already lined out by the realtor and you are able to capitalize on their relationships

You should be able to build a rehab sheet and base it off the ARV of the house and what the costs are per line item. It'll take some upfront work but figure out how much painters charge per square foot for interior vs exterior, how much do they charge per square foot to lay tile, how much per square foot for carpet, how much per box for cabinets, how much per square foot for countertops, appliance package prices, etc

You could also use a price/square foot as an estimation and then add in major items like roof, HVAC, windows, plumbing, electrical etc. I use between $20-30/square foot for cosmetics and then adding in extras but it may be more or less where you're at

The seller should be paying the agent unless specifically stated, typically the seller pays all commissions for both the listing and buyer's agent

In Arizona I know every AAR contract is assignable but it may be different there. You should be able to write it in the special provisions something along the lines of "Buyer and seller agree that this contract is assignable" this may be a good question for your attorney

The only other thing you may want to check is inspection period. The standard real estate contract inspection period may be shorter than you are used to

$2500 earnest money doesn't seem very high, if you're saying you are a cash buyer then you should be expected to put up a decent amount of earnest money

Just my opinion but no market is too hot to wholesale in. As long as you are putting in the work and following up, you'll get deals

If it was an assignment it's unlikely you can find out who the wholesaler is since it would only be on the settlement statement (At least in my state)

You could try getting ahold of the buyer and seeing if s/he will share the wholesaler's information with you. Maybe offer for the wholesaler to assign the deal to them first and then to you so that they would make something for it for giving up the contact info?

Alternatively you can search the address online and on social media and see if you can find something marketing the property, or check wholesaler websites