All Forum Posts by: Jordan Rodick

@Brian Pulaski Yes that is all correct. So they ahd it listed for 49. After looking at recently sold homes within last 6 months in the area, looking at only ones that are similar in sqft, rooms, as well as being fully renovated, the ARV was at 215. I had offered 50 which is more than asking price, the estimated cost of renovation for the size of the home would maybe be 60k and thats being generous. so Id make a good fee and the flipper would get a high return as well. i got them to verbally agree and had set up a buyer that could provide POF. thats when i send to the seller a purchase and sales agreement which in that contract states this contract is fully asignable so that i can then assign it to the buyer at the price agreed to buy. The price he gets it as is actually still less than that of the house he flipped last month so he thought thats a great deal as well. i do that work to find all of this and i get my share for doing that work

@Account Closed Most definitely will keep you updated. I didnt know that wholesalers were labeled that, but i for one am not deceptive. I love helping people out, and i am doing wholesale because the pandemic had ruined my hours for work in my other 3 jobs and I am doing whatever i can to support my family. Im sure many will understand and would do the exact same if our families were hurting. 

Thanks for the post. Will keep you updated with my deals. Heard back from the agent and will be sending him over the POF. Have a buyer lined up now and will soon be moving forward into closing this deal

@Wayne Brooks well Im happy for you. This isnt my career but thank you, again. There must always be just some people who will always hate for childish reasons. So appreciate the response. Good luck with your work buddy.

@Steve Morris Thats the whole concept of wholesaling bud. Were not the true buyer, were the middle man that finds the deals and assigns the contract to investors that fix and flips. He already knows that just as all of the other agents ive talked to know, its not even an issue big guy. That is literally what a wholesaler does. They don't personally buy the property themselves but thanks for your great words of wisdom...?LOL

@Wayne Brooks So no he hasnt asked for a POF. i may be jumping the gun a little bit but from what it sounded like is that the seller is very motivated on selling and i havent heard back from the agent since earlier today. But he did say financing is available for investors only etc. And after we communicated that he then removed the listing. So im not sure that he was already trying to get it off the market for my offer to be approved of if someone else took the deal. I will try to get into contact with him again now.

Also i guess what my attorney was saying would make it so that if i had a buyer lined up that I would be able to send the seller the buyers POF and thats how they would see the funds are actually there, correct?

Hey guys, so I'm a wholesaler and I am very close to being able to close my first wholesale deal so as you know I'm extremely excited to get this deal closed as fast and smooth as possible. I have a property in Chicago almost under contract (just waiting on the final verbal consent from the sellers agent) I was fortunate enough to able to get a great deal on it and Looking at other homes sold just streets away within the past 6 months, there are homes almost identical to mine that were purchased for 105 and was renovated and sold between 230-295. Obviously there is some awesome money to be made for both myself and the buyer but that is where my questions and concerns come to play...

This being the furthest that i have been able to make it and the closest that I've came to closing my first deal. I have been very stressed out because i DO NOT want to mess something up or do anything in the wrong order. I am really wondering what my next steps need to be in order to get things done correctly. I have called and spoke with an attorney in IL and he was saying that before i can send in any contracts to the seller that i first need to get a buyer lined up? What ive been learning is that you need to find a motivated seller, then once agreed on purchase you would then write up your Purchase and Sales contract. Once that was all reviewed, signed and then sent back that is when you go to get a buyer to then assign the contract over and those two constracts are what youd send into a title copmay/attorney for the rest of the work. After hearing the attorney say that i need to get a buyer first before sending anything in i started to get a little worried. So if anyone can help me in any of this that would be very very much appreciated!!!

Thank you guys,

Jordan