All Forum Posts by: Jeff Fairchild

I'm guessing that the reason reason you'd use a non-exclusive option contract would be because the owner simply won't sign an exclusive one because they want to be able to market the home too right?

Would an option work for a sub2? I've never heard of that before. I have a feeling not.

Yea, I'm guessing if you have everything notarized including disclosures and those disclosures are up front, then a judge would see that you were attempting to do what was right.

Andrew,

Maybe what people were talking about with regards to protecting themselves is explained in this article
http://fieldguide.reitactics.com/articles/if-you-wholesale-protect-yourself

Since writing this thread a while back, I'm trying to get as much access to private money as possible so I can keep sub2 deals for rental properties and just wholesale the cash fixers.

Eric,

Thank you for posting about this topic.

You gave us some good info. However, none of the questions that I (and I think a lot of wholesalers) would like to know were answered. I think pretty much anyone if they've been around at all knows about pocket listings and that "sometimes" realtors reduce their commissions, which was basically the gist of the article. However what wholesalers really want to know is:

How is a wholesale transaction involving a realtor different than a regular wholesale transaction.

For example should I tell the realtor that I am a wholesaler?

What is the least earnest money that I should offer?

Should I ask the realtor to use my contract?

What will the realtor ask me that I need to know the answer to?

Will the realtor not want to do business with me if they find out that I plan on wholesaling the house?

If so, how can I avoid them finding out?

What are all of the other things to keep in mind?

Well, my first deal, I only had available pictures of the front of the house that made it look good. Lots of people became interested and then one of them bought it.

On this second house that I have, I tried to take very detailed pictures, including ones showing paint peeling off of walls etc. to make sure investors knew what they were getting into. But now, I didn't get anyone interested.

So do you think it is better to take those ones showing the bad stuff or try to focus more on the better parts of the house?

Jonathan,

What do your rent to own signs say?

Which one do you guys think would work best?

Stop Paying Rent?
Rent To Own!
555-555-5555

Why Rent?
Rent To Own!
555-555-5555

Rent To Own!
Stop Wasting $$$
555-555-5555

Rent To Own!
Free Report
555-555-5555

I am thinking of starting a partnership with a friend in his non real estate business. Anyone have any strategies for preventing either person from feeling like they are doing more work than the other partner and like they aren't getting paid enough of the profits?

When people first start out, it is definitely best to put them out yourself at least twice so you get a feel for the strategy of how to do it. Then you can better train someone else the best ways to do it.

The signs have not worked all that well for me so far, but I'm going to try them again taking off my website and maybe trying a local # and/or writing the signs in marker myself instead of premade. I'm also looking at saying "Cash for houses" instead of "We buy houses." Maybe these strategies will work better.

I have heard that the signs work better for finding rent to own buyers, but I believe it may really depend on your location.