All Forum Posts by: Dustin P.

It's extremely competitive but you can still find houses. A lot of buyers have adjusted to the slimmer margins and are still buying. Just like with anything, the hardest / smartest workers will still get deals

If it were me and I didn't disclose it to you upfront I would just eat it out of my commission. It's better to take a small hit to your pocketbook on one transaction than a hit to your reputation.

Usually it's agents who do 5 or less deals a year who make a big deal about things like that

I have done a few of them. I'll echo what Aaron said above, they were generally pretty easy to work with. Houses that have sat for awhile you can typically get for under price as well. They charge some pretty big fees when they purchase the property as well as repair credits that do not show up in the tax price (But they are on the settlement statement). So often they may sell a house where they got it or even below but they actually still made a profit from the fees and repair credits

I would offer where it makes sense and just pester them every week

 I didn't recommend he do anything, he's an adult he can do whatever he wants. I said that hard money lenders will give loans to rookies. If he has a buyer lined up on a B side transaction he could close it with hard money and then sell it to that buyer, if he wants. I think if you're going to make offers on properties you should always have a means to close

And in my market (Phoenix) you absolutely do not have to disclose a double or simultaneous escrow. I do 10+ of them a month, so I know this to be a fact. Some title companies MAY require it, my advice would be not to use those title companies, but it's not a state law that I'm aware of

Closing costs in Phoenix are pretty low in general, so a double close does not kill the deal

And you want to tell me to stop giving people advice when all you do is double, triple, quadruple post in here about how everyone is stupid except for you the self proclaimed "King of the Flip"?  lol

 That's great and all but the dude has still provided zero meaningful input and does nothing but spam multiple posts in a row about how dumb everyone is and how he's the greatest thing to ever happen to real estate investing

In general a lot of people just use the wholesaling forum to troll and never provide anything of value

To answer the OP, I don't think you will learn anything that you can't find out yourself but it's all about what works for you. If you think buying this course will help get you into the game then go for it. I probably wouldn't but everyone is different

This. It's typical for the end buyer to pay the title policy, escrow fees, recording fees, any HOA transfer fees, etc. Those are what are typically called "closing costs"

If they are paying for a hard money lender, a lender's title policy, etc any costs associated with that are also going to be paid by the end buyer

But yeah everything is a negotiation

For your first flip you should probably go with a GC. You just need to be careful and vet them probably and do some of your own research on pricing first. You won't know what the cost of installing flooring should be, the cost of painting, cabinets etc and if he gives you a bid that's super high you won't know to call him out on it

I don't use a GC any more but I did on my first few projects and I think it helped a lot. Learn as much as you can. Your profit likely won't be stellar on this first one but the education is immensely more valuable

Good luck!

 Yeah this is true I've been raising rents $100-200/yr. I'm sure that won't happen forever but you're always locking yourself in at a fixed rate. Appreciation has been pretty crazy too

Quote from @Russell Brazil:

I addressed this on Facebook. Foreclosure activity was down more than 50% below normal during the pandemic and remains 35% lower than normal. 

1st quarter 2022 saw 76,000 foreclosures. While that was significantly higher than the year before....its still drastically lower than the 90,000-120,000 per quarter which is the norm from pre-pandemic.

 Russell nails it again