All Forum Posts by: J.j. McGuigan

I guess what I still might the hung up on is if you are honest with the seller that you are wholesaling and tell them you have buyers that would be interested in buying, and the realtor would still get their commission, why wouldn't the seller at least entertain the idea.  If the realtor and seller each get their profit from the sell even though it is wholesaled, why would they not at least consider for instance on of the investors you are in contact with's offer.  Is it just that people don't like the idea of their property getting flipped ??

Am really appreciating all the good feedback, this definitely beats spending thousands of dollars on a guru and probably better information too.  Thanks !!

What if it is a bird dog deal? Say you know of a property that would be a good deal for an investor you already have a relationship with. The property has an agent on it but all you really do is introduce the investor to the realtor for a bird dog fee from the investor if they take it?

Yeah, that makes total sense in only using an agent to help sell the property.  The only scenario is see it happening on the front end where you are getting the property under contract may be if you know the realtor personally and then maybe something comes up, but other than that I think finding another way is probably best, thanks

Well I'm not actually in that situation right now but just wanting to learn how to handle it if it comes up. I know the best deals to find are gonna most likely be FSBO type deals, at least from what I know so far lol, but if it does come up are there certain ways of handling that work best?

Hello, I was wondering what the realities are if you find a property that an agent is working on and you think you can get a good deal on it by wholesaling. Does this bother most agents that you would try to wholesale the property, or are they generally okay with it as long as they still receive their commission? I am a newbie at wholesaling and birddogging so any advice on this would be very helpful,

Thanks,

@Bruce Wuollet

That makes sense, thank you. 

So basically take it deal by deal and just make sure to leave enough room for myself to earn something, could be $500 or $5000, just all depends on the deal and the relationship with the seller and end buyer. 

I also have a question about fees as a new wholesaler. Is it wise to have a floor or a minimum of a fee for a deal regardless of the ARV ? I've heard some will do that and it usually works out that they don't lose deals on that clause. As someone starting out should I just make sure I get my first few deals done and not be too concerned about the fee, but then again I don't want to end up selling myself way too short, if it's just a little that's no big deal, I mean it's better than potentially ruining the deal. What seems to make the most sense is doing the 10% commission with a minimum in place say at $1,000 or to start with$500. Any advice on this would be awesome. Thanks

Thanks so much for the help. I'm reading a lot of that about 80% of your first deal is simply finding a good deal then the rest come in motion.  Obviously it's not easy to find a good deal and I need to keep learning all throughout the process. 

Do you think I should have contracts written up tho before I start looking for deals, and then modify them if necessary? Or is that one as well where I should just hold off on that aspect and find a deal first ?

I was wondering when a good time to make contact with a title company would be.  I am new as a wholesaler and real estate in general.  I know that title companies if they're good can help you walk through the paperwork and transaction process step by step.  My question is should I meet with a company/lawyer before I have a deal so that I can learn a bit about the process and already have a company I'm connected with so when I do find my first deal I can just go straight to them or should I just wait till I have a deal or potential deal and then seek a title company.  And if the buyer already works with one should I just go with theirs ? any information on this is most welcome!!