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All Forum Posts by: Joseph Lane

Joseph Lane has started 4 posts and replied 8 times.

Post: What's a good Wholesaling contract to use in CA?

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hey @Michael Dumler and @Brenden Mitchum

I appreciate the info. Being a licensed agent I had a feeling this could be a problem. I should have refraised my question better. More or less asking if there's anything in specifc I should include in the RPA that would be better for a wholesaling contract? I.e time frame, escape clauses ect. What exactly would a Flipper like in the terms for when I assign over the contract tho them? 

Thanks again!

Post: What's a good Wholesaling contract to use in CA?

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hi all!

I'm a real estate agent out here in California and am looking to take a dive into wholesaling! I have written offers on homes before for clients but never for myself. I need to know what's the best items to include in a wholesaling  contract (ex time frame, terms, escape clauses, ect.) 

Thanks and have a great week!

Post: To Agents who are also wholesalers in California

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1
Originally posted by @Bryant Brislin:
Yes, we use an RPA and then an assignment agreement once we bring in the end buyer. We put disclosure verbiage that we are a licensed agent, and are acting as a principal for profit, and not as an agent on this transaction.

Hi Bryant 

thanks for the reply! I'm a realtor in Mission Viejo looking to dive into the wholesaling game. Love your feedback!

Post: To Agents who are also wholesalers in California

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hi All,

This message is for all the agents who also do whole selling in California. Basic question, do you use the RPA and other CAR forms to make an offer on a house to wholesale? Or do you use ones found elsewhere online? How involved do you produce yourself as a real estate agent when wholesaling houses? 

Thanks!

Post: How much should a down payment be for a rental?

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hi All

Quick question, what is the typical down payment I should be thinking about when purchasing a rental property? (1%,10%,20%,etc) I know that if I put down less then 20, most banks will want MI. I have also heard that you should always put down the least amount of money you can. Let me know!

Thanks in advance 

Post: Is buying a piece of land a good idea?

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hi Tim

If you have the money to cover the land then yes Land is a great investment. 

Post: How can I get a mortgage in this situation?

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hi Evan

I'd say talk to a local lender. Lenders are going to be your go-to people for all real estate agents, whether for your client or for yourself. They will be able to sit down with you and go through all your finances. My advice is for you to develop a super strong relationships with the best lenders in town and stick to them like glue. Once you are an agent out in North Carolina, these lenders will be your best friends because you'll be able to refer your clients to them.

Post: California Real estate agent test

Joseph LanePosted
  • New to Real Estate
  • 92691
  • Posts 10
  • Votes 1

Hello all! I am new to this website and just wanted to connect to any and all real estate agents in California. I am currently on track to take my real estate license test in San Diego on march 12th. I have been searching the internet on what exactly I should be studying and believe me there's ALOT of different opines. The majority of people say just hammer the vocab. If its not too much to ask, I would just like to hear what the California real estate salesperson test is looking for and what concepts,(if any) that I should be hammering the most.

Thanks so much!

Joey