All Forum Posts by: Ethan Wofford

I am a new investor with property that I would like to purchase with a 3% down conventional loan. I am wondering if anyone knows the best lenders to go to in the North GA and Chattanooga area.

Thank you for your assistance !!!

@Doug Pretorius

Also by applying an MOA I am placed in the chain of title making it okay for me to market the property. Is this correct or is everything I have read and listened to about a memorandum of agreement false.

Thanks for the help!

@Doug Pretorius

I tell them someone else is buying it I don’t tell them I am buying it with cash.

@John Thedford

Explain your logic on how I’m a scammer sir. If the process looks like this.

1. I ask the would be seller if they would like to sell their house.

2. If they would like to sell I ask what prices will make them extremely happy and what price would make them cry themself to sleep.

3. I then explain that I personally will not be buying the property but that I will be marketing the property and selling it for commission.

4. If they do not agree to this we simply move to the next property.

5. If they okay this we then find a buyer and get the property sold.

What’s the worst that can happen?

The contract falls through and we get an extension of contract or the seller gets the earnest money.

The alternative to that is they sell the property they have been neglecting and live happily ever after.

Now please please explain how this is a scam. You sound like a chump every time I see your name in any wholesaling discussion. Instead of coming in here and and falsely accusing me of being a scammer or a fraud stay in the forums that actually involve what you’re interested in.

@Brian Pulaski

For me I won’t be telling the seller I am buying the house at all. I will let them know that it isn’t a hobby it’s a job for me, therefore I’m in it to make money and will explain the whole process in order to make all three parties happy and get the benefits of the deal!! If I am doing it this way should I get a memorandum of contract to protect myself from the end buyer going around me and getting the deal at the lower cost??

Thanks!

@Cameron Tope

Thanks for the help I will be observant to make sure the person I believe to be the end buyer is not a wholesaler.

@Barry Pekin

Thank you. That was my assumption, but I didn’t want to hold myself back by limiting my buyers list for no reason.

When I hear people talking about their buyers for wholesaling they always say cash buyers. Do the end buyers you assign the contract to have to actually buy it in the full amount with cash or can they take loans out to make the payment?

@Jerryll Noorden

Amen. Keep up the good work man! This guy was getting on my nerves I came in here to get some information not see someone call another out. I tell the sellers I’m in this to make money up front if they don’t like it then they are not of my interest.