All Forum Posts by: Kenos Duff

Thanks Mark ill do that.

My banking info wasn't in the book so im not too worried about that. I any have some digital copies somewhere in my drive but im not sure. Thanks Ronald

Thanks Tim, I didn't realize you had posted that when i was writing my last message lol.

its a box containing all my information for my LLC such as Tax documents and my EIN information for if i hire any employees along with the certificate proving authenticity of my company and other things i cant think of at the moment. Now when i go to file taxed for my 1099 i have no info to do so which makes it hard to do anything. Yes Tim that's exactly what i'm referring to.

Someone stole my LLC box with my TAX id and EIN and everything about my business along with my laptop and i was wondering how to get the box replaced with all my business documents?

What is it you need to do every day inorder to go from A to Z with a wholesale deal for someone who has not yet closed their first deal and may be having issues finding sellers and financially is unable to do post cards or driving for dollars? Can agents help you find deals?

Thank you all. Joe, It does make sense to have a % commission because in my case i am finding the properties and i have the buyers. I do my own comps and i only getting comps from agents for a second opinion to be more accurate because they have MLS access and the closest thing i have is Realtor.com and i know i have to work with the agents for foreclosures and bank owned properties so in that case i was wondering does the agent get paid commissions from the seller?. Otherwise if %6 is the ongoing rate i will discuss that with my agent and see if it seems fare. If my agent does find the buyer 50/50 is fare to me however my buyers list is at 80/20 so i keep%30 more. I do plan to do Virtual Wholesaling nation wide so thank you Nancy your info helps :)

I have a Realtor i am working with and she seems to be really fare.  She said she has worked with a lot of wholesalers before and that is a plus for me.  She also said she wanted to make sure i get to keep the MAX amount of profit possible which i thought is a good quality in a person i want on my power team because its humble and i personally would like to pay extra for people with that mind set in helping vs receiving.

I was wondering how to determine what would be a fare way to pay?

She mentioned a few possibilities like a percentage so i wanted to know what is a good rate that others would recommend.

Say i get a property on contract for $60,000 the ARV is $140,000 and sell it for $75,000 and earn $15,000 Assignment fee. Out of the $15,000 what would be a fare %?

Also another factor in this is... I have a list of Buyers to Sell properties to on a continues basis and for the first 2 deals i split the deal 50/50 after its 20/80 and i keep %80

in the scenario above from the $15,000 i would keep $7,500 since its my first and out of that i would pay fees to the Realtor.  

Any ideas what seems fare in this scenario?

Also how do you go about officiating it? Maybe a contractual agreement?

If its the contract for the property that i sign to assign to the buyer would it be part of the terms i add to the contract?

I'm looking forward to your reply's 

Thank You

Thank you, I'll check it out.

I've managed to get a list of buyers together now the next piece of the puzzle is getting the product of which the buyers want to buy from the sellers who want to sell, But how?

With any luck i can complete a wholesale deal with in the next 3 days.

Thanks all