All Forum Posts by: Joe Gonzalez

I have been successfully wholesaling in Texas with my license for 4 years.
All that is required is full disclosure, that's it.

I use the TREC 1-4 contract and add a provision to an addendum,  I then request the seller initial it to make sure there is no question about my agency status.

All of my sellers prefer that I am a real estate professional and fully understand that I in no way represent them.

PS. I'm not an attorney, this is just a seasoned wholesalers opinion * 

Joint venturing is only a good idea if you cant secure a buyer on time.

I've had a lot of success by having timelines - if I cant secure a buyer by day 7 then I will begin to reach out to other wholesalers. Always make sure that these are seasoned wholesalers.

Also keep in mind that the person who brings the deal is carrying the marketing cost! so don't rush to do a 50/50 split - I do 70/30 splits on all my deals.

Best of luck 

Hey John,

I would just have a virtual assistant go in and find all of these types of fields and then highlighting them for you.

This would take the tediousness of you doing that yourself and you can just focus on reviewing the highlighted rows.

Very realistic, I made over $500,000 in my second year of wholesaling.

Become obsessed with being better every day and you will do amazing things. 

Hey Tameika,

Sometimes the best deals are the ones you walk away from.

The seller stating that he does not want a contract involved is a HUGE red flag.

I'm wholesaling multiple deals every month in Houston.

My best advice is to invest time into your education. 

Focus on:

- Sales Skills

- Negotiation Skills

- Real Estate Terminology 

- The principles of wholesaling

- Marketing 

First you invest time in your education, then you invest money into your marketing. 

Congrats on taking action brother. 

I wholesale a lot of deals in the Dallas / Fort Worth area, it's a great market.

Assuming your ARV and repair estimate is correct then I see 5-10k as a potential spread.

No problem with locking it up just make sure you don't tie it up for a month if you cant assign it.

Disclose to the homeowner that you can try and make the numbers work at their price but you would have to get some of your partners involved, ask him for a 2 week option. If he is okay with this then get it under contract.

Honesty and transparency is always the key in this business. 

Best of luck!

Hey Salvador,

I run a full-time Wholesaling operation in Houston. 

My best advice is this:

Focus on learning the right things - how to run comparables, how to be a better salesman, how to negotiate, marketing channels available (Biggerpockets & YouTube are great sources)

A a wholesaler you invest in 2 things - your education & marketing.

Do I suggest you get an LLC? Sure, it definitely doesn't hurt - if anything there are great advantages.

Stay focused, stay hungry. 

Hey Jonathan,

I'm a local wholesaler here in Houston as well.

Patten Title Company & Patriot Title are popular choices since they deal with a lot of investment deals.

Best of luck!