All Forum Posts by: Stanley Okazaki

Correct me if I'm wrong but 99% of the listing agreements signed are exclusive -meaning that no matter who sells the property, that Realtor's brokerage will get the commission.

That being said, I don't see why you couldn't , for lack of a better term, "help" the seller sell it. I would suggest explaining to the agent what you want to do before actually doing it. A lot of realtors don't know what wholesaling is so their first assumption is that you're trying to steal their commission when in fact your fee doesn't come directly out of the agent's commission.

We want the best rates on hard money just like everyone else. 

From what I understand, you can negotiate for better terms if you have good credit, liquid assets & a proven track history of successful investing. 

Our problem is that we never kept records of the fix/flips we've done in the past. How would we be able to show lenders our track history ( tax returns,etc) ? If we made some sort of portfolio or Power point would that suffice (Anyone can make up a fake PPT) ?

Thanks in advance...

Yes & yes. Don't toss the first deal you come across at him. They don't want to waste their time looking at bad deals. Believe me when I say he'd rather you bring him 1 good deal than 20 decent deals

Hey Mike, welcome! 

I'm right about you in the Tomball/Woodlands area. If you're ever up here and looking for some help just let me know.

If you just want a leasing agent I would say STAY AWAY from the top producing agents. Leases are their last priority and when it comes to leasing out property, time is of the essence. 

Look for a newer agent that has done a few leases and is hungry for more. They'll dedicate themselves to each listing much more than a "big shot" agent will. 

Be sure that your leasing agent understands you need to lease them quick. There's no reason why the property shouldn't be in the MLS a month or two before the current tenant's lease is up.

As for screening, I'm not sure how to screen agents. 

I feel you man!

Top wholesalers usually have a "top 5"- all cash buyers that are prepared to drop 100-300K cash on a good deal. All the best deals are eaten up by these top 5 and the rest is thrown out to the "general public" in hopes that less experienced investors will pick them up. 

I would highly suggest doing your own marketing if I were you. It cut's out the middle man and you'll have more control over your business. It does take a lot of time & money but if you have both of those then I only see it benefiting you in the long run. 

When you start getting a surplus of properties you can start wholesaling them yourself & since wholesaling isn't your primary business you'll be able to sell them are what I like to call " Fixer upper discounts".

Sale Pending means just that- the seller accepted a contract and the property is probably under going property inspections/ termite/ etc. There is always a chance that the buyer will terminate the contract based on the inspection report or the seller may decide to back out. Usually, unless the home inspector finds major structural damage or the buyer offered way too much to begin with just so that they could get the property under contract, both parties follow through with the sale. 

If you want to track it I think the best way would be to call the listing agent and tell them to keep you in the loop because you're ready to buy if the current buyer backs out. 

When you said she does sales for a living did you mean she, herself is an agent? If that's the case & if the property is on the MLS then why don't you offer to let her represent you as the buyer. She'll be representing both sides of the transaction & will get both commissions.

You can also promise her that you'll let her list it once you've completed the work.

You may or may not know of Dotloop. It's amazing....

Should definitely have something in writing. If they refuse then move on. Seems like you and your husband and MORE than capable enough to branch off on your own or with another investor.