All Forum Posts by: Gary Dezoysa

Thanks Carlos. So would the title company just mail the wholesaler a check?

Hi, I have a few basic questions about closing from the wholesaler's vantage point. Any answers will help me a lot, thanks!

1. How is a closing date settled? Where do the parties meet?

2. What papers are to be signed by each party? I understand a purchase agreement will be signed in advance. I know there is a HUD-1 that lists all fees in the closing. Beyond that I don't know what other papers there are.

3. How does the wholesaler actually get paid since he is not at the closing?

In some businesses you can drum up quite a bit of business by marketing your customer list for referrals. How do you guys feel about doing this with your home sellers? 

I think that someone who has trouble keeping up their home/payments might not be inclined to share that, but then again, maybe they would. And people of similar financial backgrounds and habits do tend to hang out together.

If anyone has thought along similar lines or attempted this I'd love to hear your thoughts.

Hey John, I'm deciding between Cleveland and Memphis at the moment

Do you guys know of any ways to locate cash buyers who can be counted on to close when a house meets their criteria, when you are not in the area? I am a virtual wholesaler, otherwise I would just go to a local REIA meeting to find them. I've heard of finding buyers using craigslist but not sure if that's a good way to find buyers that can be trusted to close.

Hi,

Has anyone compared the returns of a stock/bond portfolio against investing remotely in real estate? I see both of these as less involved forms of investment although remote REI will require managing the manager. Was just curious how you guys thought they compared and whether the extra returns of remote REI were worth it.

Thanks Jordan. I wonder why this isn't more commonly done then. Maybe it is seen as "taking too much" or there is a technical aspect that makes it hard.

Hi,

I heard looking up all cash sales in the MLS and counting instances by census area will show you where the investor hotspots are in a city. I don't have MLS access though so was curious if there were other ways besides this and asking around?

I'm new to Listsource but digging around it trying to see if there is a proxy option to find likely investor sales by tract for roughly the same insight.

I was going through this old thread and a wholesaler noted that she sells at her contract price with no markup, but a 50% profit share. https://www.biggerpockets.com/forums/93/topics/174983-virtual-wholesaling?page=2

And to add to that, she was commenting on virtual deals, meaning she's not local.

Anyone know how to write a wholesale fee to be a percentage? I thought you had to use a fixed fee so that the HUD document shows the exact fee at closing.

Hi, I'm a software developer looking to make a product for real estate agents. To avoid being a founder who makes a product he marries and everyone else avoids I wanted to ask you guys what it should be.

Does anything jump out at you immediately as a problem you just wished somebody solved? I'd love to hear about it!

If not, a couple quick lines about your biggest daily pains would also be appreciated.

Thanks