All Forum Posts by: John Slater

Hi Tanner, yes it is, and yes there is.  It can depend on how much time you have before the sale date to make things work, but a lot of options with just a short amount of time.  

@Robert Thigpen

Hi. Yes, I would go knock the door, or hand deliver a letter… “hi, my wife and I are looking to purchase in this area, wanted to check if you were considering selling” something like that.

Why would they want to sell?

Maybe they took a private loan to avoid foreclosure but they know they’ll be in trouble in 4 months anyway - SUPER common.

Maybe they already plan to sell. Reinstating was just to give them time.

Or, maybe they don’t want to sell. You don’t know until you ask.

Hi Christin, 

I'd use an agent to help you on this first one or someone else with experience.    

I think I read a comment that said "the fact you are asking questions is good".... but no, the fact you're asking questions is why you probably need someone to help... your talking about a $210,000 great decision or horrible mistake.... what could possibly go wrong..... the answer, a lot... 

I don't know which area it is, but even pulling comps can be a very tough business. I've pulled comps for 10 years, both agent and investor systems, and right now sometimes I'm finding it harder in this changing market (depends where you are I guess)

If you are looking to keep it and rent it, I guess less things can go wrong... negotiate by showing him the comps, he'll agree or disagree.  At the end of the day the house is worth as much as someone else is prepared to pay, but that doesn't change an owners perspective if they want more than you want to pay.

For getting your license, sign up today... do an online course, cheapest one that gives you a PDF book.

Best tool is a lead generating tool...  I use one for pre-foreclosures

Don't sign up for expensive classes, you really don't need them.. send me a dm and I'll put you in touch with a company I did it with and many others too.  

Great stuff.. and congrats.. the golden goose is the toughest to find.

The "strategy" of wholesaling is the easiest part and like people talk about on podcasts etc... what a lot fail to mention is the "finding a deal" part to actually wholesale is the hardest part..

My first was a driving for dollars too, surprising how many you find in your area when you actually look for them. 

If you decide to branch out a little, look in to probate or pre-foreclosure leads but continue the driving for dollars side.  

 Hi Carla, send me a Dm - I'm pretty sure I can help you understand how to tweak things.. I'm in Temecula, 

Super depends... We have team members starting 8am, then starting again when evening comes in.  Make them whenever "you" can

@Jurgita Caballero

Technically no because you’re not acting in the capacity of your employer. But, doesn’t hurt to have a convo with them to say this is what I’m doing, Any issues.

My broker is super ok with it because she knows I’ll disclose everything. But I had a previous broker who didn’t want any agents playing in the investor/wholesale world.

Hi. Not certain I understood your question correctly.  "how do you go after a wholesale property for an investor without compromising your real estate license?"

The biggest reason licensed investors get in to trouble from my experience is "disclosure"... if you disclose then 99% of the time there shouldn't be an issue, if you don't disclose, then it may bite you in the ***.  

I've wholesaled as an agent, got the property under contract, was going to flip it but changed my mind and wholesaled it to a buyer.  Both parties knew I was licensed but acting for my corp and not acting as an agent.  

I've also helped a buyer "buy" from a wholesaler, again both parties knew I was licensed but helping to facilitate the deal, of which the buyer paid me a finders fee, but paid to my corp.

HI Joshua, if you have a rental property right now, I'd suggest spending a tiny bit of money to speak with a tax/cpa attorney to get the right advice for you.  

If you don't have a rental yet, I'd have that conversation with the tax guy when I'm getting close to buying, not something you need right now, and if you plan to buy, my personal opinion is to buy in personal name then transfer to LLC. I have Corps for short term investments, then LLC's for longer term buy and hold. different entities come with different benefits.