All Forum Posts by: Account Closed

Yes, I'd go with fiverr.  I got this little video done for our site for about 20 bucks.  Short and simple and affordable.  

@Michael Quarles I need to talk to the Realtor about that but I would guess yes to both of those questions.

Thanks @Michael Quarles for your response. The property is actually not listed on the MLS. It's a private owner who has interest in selling the property through a specific Realtor who will be representing both sides. This Realtor brought me the deal and wants to work with me. I am spending time on it because I think the numbers work.

I'll look into utilizing Sub2 and seller financing though, I don't know much about those methods yet.

A detail I failed to mention is that the Realtor is double siding this deal as both the seller AND buyer agent. 

@Matt Iacovazzi @Franklin Romine @Dennis Lanni 

I just posted in the wholesaling thread about a bump in the road with the deal.  Do you have any suggestions how I might resolve this issue with the Broker?  Or how to get around it.  Here's the thread...

http://www.biggerpockets.com/forums/93/topics/1441...

@Account Closed If I understand you correctly are you saying to just have the buyer sign the purchase contract and exclude the wholesaler (me) all together from that contract. While in the meantime the buyer and I have a separate contract that he will pay an assignment fee me contingent on the sale of the property?  I'm not sure how that works.

 @William Hochstedler this deal is in California.  That will come in handy for the wholesale deals I'm doing here in Utah. Thanks!

Thanks for the responses folks!

@Mary B. 

Option 1 - Using the Realtor's contract isn't a problem for me but I'm wondering if a Broker who takes issue with the "and or assigns" phrasing would likewise take issue with a double closing.  The Realtor wants to be transparent with the Broker with what he's doing.  Sounds like a great idea though.

Option 2a - The Realtor is actually family.  He came to me with the property which is not on the market and offered it up.  As I see it we're both trying to work this together.  He's interested in learning how to work more with investors and I with the process of wholesaling.

Interesting Jean.  Assuming California law follows this, and if the contract doesn't prohibit assignment specifically then it would seem reasonable in my mind to assign the buyer.

I need a little help regarding a wholesale deal I posted on BP.  I am working with a Realtor to get a wholesale deal secured but we've hit a bump in the road..

The problem is that the Realtors' Broker at Coldwell Banker does not like the "And or Assigns" on the contract and does not want the Realtor using this phrase in a contract. The Broker seems worried that it's fishy/sketchy to not have the end buyer identified in the contract.  

The Realtor is hesitant that if he proceeds with the contract he may be jeopardizing his job, however, he is still open to seeing if there some way of making it work.

I'd love to hear what you think.  How can we make this work?  

Thanks for the feedback guys.  Will keep you in mind.  The owner of the property has notified the tenant to be out in two weeks.  Currently I'm working with the Realtor to get it under contract... the Realtor hasn't worked with a wholesaler before but is interested in learning the process.  I'm assuming wholesale deals are usually done without a Realtor? I'd be interested in knowing how common / uncommon that is.  He seems to appreciate the fact the he will get a full 7% commission.