All Forum Posts by: Jared Hettler

Not sure if this has to be posted in the marketplace or not as I'm still pretty new to BP so if so, someone just give me a heads up and I'll post this over there instead.

I'm looking for some good hard money lenders in the Seattle/Tacoma WA area. Does anyone have any good experiences/business relationships with lenders in that area? Let me know!

Thanks in advance.

@Chris S.

I thought that all contracts are assignable unless stated otherwise or bank owned? Also, if you sign a P&S agreement, as long as you perform on the contract, which means the seller sells their house, it isn't the seller's business what you do with the property at that point. At least that's what I was taught. In situations where at closing the agent/seller finds out you assigned the contract and gets mad, what is the purpose? The house was sold, the agent gets their commission and the seller gets their money. I never understood the issue there.

@Nate Sanow

I appreciate the insight. When you say there is a lot of bad with it what are you referring to, the plethora of scammers that enter the business? My situation is that I don't have extensive employment history, which as far as I know (which isn't much about this,) is necessary for transactional funding/hard money lenders, correct? I'm not asking anything to be sarcastic or anything, I'm still really green and just trying to build knowledge. I come here because I know BP is filled with some pretty experienced and knowledgeable people and I'd like to learn as much as I can. I wanted to get into wholesaling because I have little capital, no steady employment history but a serious passion for real estate. Just trying to get into it any way I can.

Hello everyone,

I'm a new wholesaler looking to build capital and get into flips and rentals. I am currently doing remote work wholesaling in Seattle as well as Portland and currently have a deal under contract in the Tacoma area. I am looking for either another wholesaler to JV the deal with me, or a cash buying investor in the Tacoma/Seattle market who would be interested in taking it for an assignment fee. Let me know if anyone is interested!

thanks in advance!

@Walker Akers

well typically I use Jerry Norton's contracts, you can find those on his YouTube channel, flippingmasterytv. But in this particular situation this is an on market property so I'm using the real estate agent's contracts. 

@Jay Hinrichs 

I never knew that. So you need to get your license, and go work for a brokerage for 2 years before you are allowed to label yourself as an agent? So in order to avoid any legal issues with illegally acting as a broker you'd need to work under a broker for two years? 

So I'm new to wholesaling and have some things that make me nervous to think about, being that I don't have the experience to know how to handle certain situations. One thing that keeps getting to me is that I heard a wholesaler say once that he had his buyer not show up to closing. What can you do in such a situation? Would the title company expect you to still close on the deal if you've signed an assignment contract and the buyer doesn't show up? Or is that completely on the buyer at that point? I don't mean they didn't show up as in they decided not to attend closing, because I don't plan on attending any closings myself, I mean they just ghosted him I guess. That's what I gathered from it at least.

Let me know your thoughts.

@Jay Hinrichs yeah that's the smartest thing to do is just get licensed. I'm getting ready to begin the process of being licensed. My only question is, do you need to be a BROKER to avoid issues as a wholesaler, or just simply a licensed AGENT? I believe those are two totally different beasts, aren't they?

Thanks for any input and insight, Jay.

@Bryant Brislin I see. I've contacted several real estate agents also asking if they have anyone who would be interested with no luck. Even though I secured this property 40k under asking, I've begun to wonder if it still isn't a good deal. 

I currently have a property under contract in Portland, Oregon. I'm curious if I'm allowed to post a Facebook marketplace listing for it? Is this something I am allowed to do being that I'm marketing my equitable interest? Let me know what you guys think.