All Forum Posts by: Jesse LeBlanc

Good afternoon @Kesha Hamilton, please check with Wholesalers Transactional Funding.

I’d love to help out. I can’t put the website here but it’s in my signature.  I’m actually about to jump in the car and head to TN with my wife and friends from Atlanta 😁😁

@Krissy Harden I’d love to help you out. I’m based out of Atlanta but work nationwide.  What closing attorney do you like to use?  I’m sure it’s someone we work with regularly or someone I personally close a lot of deals with on my own flips and rentals.  Please see the info in my signature. 😁😁

happy Saturday!!

 Good evening @Paul Hinojosa, I’d love to help out. Will your double closing be with the same closing team?

it might even be someone I’m used to working with. 😁

Congrats to you both. :)

Make sure that you know what your buyer is willing to pay first so that you know your offer to the seller (and sellers agent) is lower, thus creating your spread if you don't want to assign the contract.

Once you know you have a buyer higher, then go ahead and talk with the agent to get the contract between you and the seller ASAP.  Immediately following that, get your contract with the end buyer.  Then send both to the closing attorney.

To calculate closing costs, speak with the closing attorney or their pre-closer to get their costs.  I'd roughly estimate around $750 for attorney closing costs, but then you have title insurance, taxes and a few very small fees like recording costs.  Roughly budget around $1200-1500.

@Cara Clinton

This is pretty normal.  Make sure that you have your AB contract and your BC contract (Contract with your seller, then contract with your buyer) and double close.  

Seek out a Transactional Lender for this scenario, you'll be able to get funding for the first transaction keeping them both separate.  Lastly, if a closing company refuses to do a double closing, move on to the next!  Most all will do the double closing for you, if you bring your own funds or use a Transactional Lender then it's legit 2 separate transactions which they close all day long. :)

I of course offer Transactional Funding, but only on double closings. I do usually refer wholesalers that are looking to buy, control then relist the properties to a friend of my who does "Wholetail" loans. It's just a fancy word that means nothing more than the regular private/hard money loan for let's say max 3 months. This allows the wholesaler (if they bought right) to make more money selling on the MLS than to an off market investor USUALLY. @Connor Benn

@Mir Mubashir Mahmood go buy the book "If you can't wholesale after this, I've got nothing for you" That will take care of you and explain that process and you can do that ANYWHERE in the US.

If you already have a buyer lined up, a great relationship with them, trust them etc, you can get them to tell you the price they would pay for the house. YOU DO NOT need to know ARV, you DO NOT need to know rehab if you operate that way. Then Let's say your buyer says they'd pay $100,000 for the house, then all you need to do is negotiate with the seller for a price below 100,000, making sure to solve their problem and then you won't have to worry about marketing the deal all over facebook, your buyers list, text blast etc.

But that's just one way to get the deal done legally.

 Again as stated before, you’re NOT MARKETING THE DEAL. If you buy it and sell it, you own it. If you have a buyer already in mind and you’re not already under contract and marketing it, you’re not brokering it. 

But if you let fear stop you, that’s on you. 

Exactly as @Lydia R. stated.  Which matches the thread from a year ago I added to my first message @Mir Mubashir Mahmood

I know your thread is to look for a closing team nearby, but we also want you to continue being an active wholesaler if that is your plan.  Not just do one then quit, or do one then move virtually to another state in fear.  There are many methods to get as many wholesale deals done as you'd like in Illinois. :)