All Forum Posts by: Steven Vaughn

Hello! I just started out too, but I am an 18 year old high school graduate!

If I'm just wholesaling, do I have to appraise it myself, or is it the buyer's job? Can I just use good comps and tell the seller what it is most likely worth? Or will he tell me to appraise it first. And if the house was recently appraised by a stranger(let's say only one month ago), will it show up on a record? Can I pull out recent appraisals instead of paying for it again myself?
And I heard that appraisers will know if it will be a good deal for wholesaling or not, is this true? And does it cost anything to get only advice from them instead of appraising a house?

*I know that I can do a double closing...*
But let's just say I find a property worth 200k but it's selling for 120k. That makes 80k left over as profit. Can I take 20k for an assignment fee? They will still make 60k, which is a pretty high return on investment for them. Or will they deny my offer and ask to change my assignment fee to 10k instead?

If finding good deals are so easy once you know how to market, then why do rehabbers pay wholesalers a finder's fee when they can just find a deal by themselves for more profit?
And even if I do find a really great deal and get it under contract, can't they just steal the deal from me by contacting the owner behind my back and setting up their own contract that is more appealing to the seller? If that's not possible because of my signed contract, then won't they at least try wait out my left over days for it to expire, and THEN set up their own?
I was just wondering.. because I feel like if experienced investors are tempted with a deal that has a VERY high ROI, they will try to take advantage of beginners like myself who have very little clue as to what they are doing. One of the reason why I haven't started is because I have a strong fear that I will be taken advantage of a lot!