All Forum Posts by: John Hamilton

Most realtors and brokers, along with most attorneys, don't get wholesalers. In fact, they think they are the scourge of the Earth. They've been duped into thinking that ALL wholesalers operate illegally and constantly lie to people. And why? Because they think we are mucking around in their pool (market). Do they really care about the seller who got hung to dry while waiting for a wholesaler to "assign" his option? Or are they thinking of the commission they lost out on due to them not being involved in the game. If they think this badly of wholesalers, why would they want them to get licensed? That adds more bad apples to the cart and limits their market. Just because you have a license doesn't mean you won't operate illegally or do something in the grey area. I've known some pretty rotten, self-centered, selfish and cut-throat realtors. I've known some well-respected ones. Still, most don't understand or like investors. Too much work for too little profit. They like the home-run or grand-slam deals. Simple, 1 seller, 1 buyer, all cash, even awesomer. Where's the nearest title company? Sorry, that's not our world.

I would agree, for the most part, that most wholesalers, who are newly schooled, are taught to operate in a shady fashion. Does that mean all wholesalers are bad, cheats and liars? No. Some do actually operate legally and make a good living at it. I see NO benefit of being a realtor to be a good wholesaler. The two don't mix. It seems the obvious way of not getting into any legal trouble is to actually buy the property, then flip.

I'd say if you inform the seller and buyer of who you are and what you do, and you perform within the legalities of wholesaling, and the still work with you to close the deal, you should be successful and not have the requirements of being an agent nor having to purchase said property to make some money and sleep good at night.

Hi Debbie,

What happened about the house down from you? Did you ever make an offer?

It's ok if the offer seems silly, you never know if they may just take it. Or may come back and counter offer or come back much later an accept.

I'm using PostcardMania for a 3 month PC (once every month for 3 months) campaign for 1,000 absentee owners. This is my first. I might check out Listsource for my 3rd campaign. I already have initiated my 2nd campaign from their sister company called RocketPrint&Mail. I will be sending yellow letters 3 times to 1,000 people.

Most people on here use ListSource and some use Yellowletter.

I'm looking for buy and hold or rehab investors in these specific areas below. I have started a small marketing campaign (1,000 absentee owners) and hope to start making some SFH deals soon. So, I'll be looking to flip rehabs and wholesale deals over the next couple of months going forward.

Zip codes targeted in direct mailers are 32224, 32250 and 32256. More areas from all over JAX to follow. As I start getting them under contract I will be using my website and all other marketing channels to sell. I may come across properties that fits another niche. Perhaps you have a different scenario than mine and this could fit your needs, I don't know. Let me know what you're thinking.

Any buy and hold or rehab investors interested in Northwest of Downtown JAX out to Trout River and West of I-95 down I-10? Some areas are better than others. May want to flip in those areas. Some good deals, we just don't have the channel to flip it to.

These will be direct to the seller or listing agent listings. It will be off-market. It will be discounted well under ARV. Full analysis results on each deal, so you KNOW it's a good deal.

If you want to join my buyer's list, IM me and provide your name, contact info and very specific criteria, so can I find exactly what you are looking for.

Wholesalers must have cash buyer contract and be able to provide non-refundable EMD as will all buyers.

Thank you for your time and interest.

HC Houses (soon to be LLC).

www.hamiltonchampleyhomes.com

@Chris S.Cancel the check if you can. The best way to avoid that, if they haven't cashed it, yet. Otherwise, contact them. If they don't respond, mail a certified letter explaining the situation and give an option. Either return the check or bid on the job and use the $1,000 and deposit for he work to be rendered.

If that still doesn't work, you can go to state board and electrician's union or lobby to fight. Maybe even a lawyer will help. But all that is worth time and money.

He lied and caused you stress, delay in the sale of your house, and some safety factors. He should be reported with as little cost to you. He has probably operated like this before and it won't be his last.

Does every wholesaler behave like this? Is what "they" do illegal? The answer to these questions is NO! Don't believe the brokers and agents and haters who say so. There are legal ways that a wholesaler can operate, in an ethical fashion, and still complete a win-win-win-transaction. I believe they are few and far between.

You, as the seller, should have asked him what the "assignment: means, if you didn't understand it. Lesson learned. He said he was a cash buyer. No need for assignment clause.

Should that put a bad taste in your mouth towards all wholesalers? I think it should arm you with what to spot as legit and falsehood. Maybe next time faced with someone exhibiting the same behaviors or signs gives you great power to call them on it. Lots of great advice on how to prevent most shady wholesalers (and other unscrupulous cash buyers) from the get go. Ask for EMD and ask for Proof of funds. Even then, I've seen some real good bogus letters with all the official, trademarked and copy-written logos and what-not and wasn't worth the paper it was printed on.

Even so, There are some legit deals that are being made everyday between a wholesaler and a seller where both are happy with the result. Now, whether or not they buy it or have a cash buyer buy it makes no difference as the desired result was achieved. If it doesn't sell, that could be due to a number of reasons. None of which matters to a seller. They just want it sold for the agreed price and the agreed time.

I, as an aspiring wholesaler, will operate legally, ethically, honestly, and be as transparent about how I operate to both the seller and the buyer. However, before I start business, there are some things I'm doing to make sure I for one, can do what I say (If I state I will buy the house, I better damn well have the means to do that). Have a team of professionals, an avenue for funding, a list of buyers that I know are looking for certain properties (even if I don't, if the deal screams "good deal" that should entice the buyers to step up), etc. I'm "investing" a decent chunk of money up-front to be the best wholesaler I can be. 

Actually, seeing it from the buyer side (fix and flip), I had very limited true deals when receiving from wholesalers, which is what gave the bright idea to be a wholesaler myself. If I can find and negotiate the deals I want, that's better for me and cuts out the middle man. If I come across and actually negotiate on deals that are still good, but I don't want to buy them (like a full rehab or just a particular market or area or just doesn't fit my criteria), then I will pass them along to other investors. I may even assign a few if there is some money I can take off the top. Is there anything wrong with this?

Hi Cynthia,

I'm interested in getting information for the Jacksonville, FL SFH and duplexes. OK if they need some rehab. Interested in maybe cherry picking a couple of properties.

Let me know.

Watch out for a guy named Daniel Rogers claiming to be from Affiliated Mortgage lending.

I know the company is legit and does some real estate lending, but only in TX. This scammer is using their names, license numbers, all their business information and documentation, except for the phone number. I talked with a company rep and told them about this and he said they are getting calls from all over the US about these "loans".

Not sure if Daniel Rogers is the same guy I looked up on BP, since that's where he said he found my profile. The Daniel on BP has NO information in his profile except for some website.

BEWARE!!!

I believe that education should come from a website or landing age that you provide the URL in your mailer. Not very cost effective unless you add a one-liner perhaps.

I'm starting out and definitely a tad less coverage than your campaign. If you get less than 5% results, I would be very surprised and disappointed.

Absentee owners with postcards for 3 month campaign for 1,000 targets with 1 mailer per month. I bought a new phone for the calls that will hopefully be coming in. Also, I purchased a new domain and website for the landing page and form to contact me. Hopefully, this will educate my audience on what I do and how I can help them, and keep things anonymous until they are ready to pull the trigger.

I might mix it up by using postcards for the first round of mailings. Then, followed up with zip letters and completed with a yellow, or personalized, letter. All these have different price points and mailing costs, which is irrelevant.

The most dreadful thing I fear is people who are angry calling to let loose. I want to know how to turn that mindset around to a "alright, I'll think about it" result or better.

It will be an interesting exercise, for sure.