All Forum Posts by: George Cox

Once you find your end buyer, you need to have an agreement made up between them and yourself. It should state that they are assuming all of your responsibilities, interest, and obligations stated in the original contract w/ seller. It should also state the amount of your assignment fee, deposit, and closing date. Think of it as another AOS...

Title company is usually where settlement takes place. Sometimes it's at a lawyers office...depends. Are you fine with using your end buyer's title co? If so, make sure they are experienced w/ assignment deals. Nothing worse than a title co. that doesn't know what they are doing and messing up your deal. You don't need an office....

Try to get your end buyer at 70% of ARV - all-in.

You titled this post "Double Closing", are you doing a double closing or an assignment? Those are two very different animals...

I buy AO lists from Melissa Data and of late have been wondering about the accuracy of theses lists. One parameter that I check off is that the house be "vacant". Many owners call saying that the property has never been vacant, some say it was but is now being rented. These lists don't come cheap and money is money so I wonder what anyone has to say about this. I hate to think I am wasting money..

Example - in one Philly zip code they state there are 25k VACANT homes! In ONE zip code? That number sounds high, even for a big city.

Your right, and I have. I've made the commitment to be consistent w/ my marketing and I will NOT stray! Makes sense, too...so many threads here try to complicate the whole process of wholesaling. Absentee Owners WANT to sell, Probate leads WANT to sell...I just need to get in front of more of them....Thanks for the replies.

I would love to hear from the wholesalers who are 2 or more deals a month. Hey, let's face it...2+ deals a month is making a NICE living! I'm not there yet...that's why I would like to hear your advice, thoughts, strategies....I currently do about a deal a month...which is nice. But, 2 and up is where the REAL $ is. I target probate and absentees in the city of Phila. I LOVE wholesaling...I'm doing it 2 years now and I know the game. I have been making the mistake of being lazy w/ my marketing but am now focused and feel the extra investment/effort will get me that 2nd deal...

What do you think guys? Where do I need to be mentally, how many pieces of mail should be going out, how feasible is it?

Anson is right. The way to do it is have an angle and get them before they hit the MLS, otherwise it's all red tape and bidding wars. I'm looking to take that strategy nationwide...

Let me clarify a bit -
I'm wondering if agents/investors think I can do more deals on a monthly basis on the retail end as apposed to wholesaling. I'm talking Expired, converting FSBOs, listing Probates and Absentees, and general retail deals...

I realize that retail will come with it's own challenges...but it seems to me that retail transactions are more prevalent than wholesale deals..

Again, assume that I will be working my butt off as an agent to actually find these deals

Just wanted to get some opinions....

I'm currently taking my education in preparation for my re license. I'm wondering if one can expect to do more volume on the retail end....I have had success as a wholesaler but struggle to consistently close 2 deals a month. In wholesaling it seems there are more obstacles to overcome - you need to get the house at such a DEEP discount, most homes have liens and other encumbrances...

I'm hoping to enjoy more consistency on the retail end. I have nothing but time and plan on hitting it hard - cold calling, direct mail, constant prospecting. I'm in the Philly market (pretty healthy on the retail end)

I would love to hear from any agents who wholesale/flip/invest.

Looking for some opinions on this...
If a deal is a DEAL, it won't last long on the MLS. But, in the interest of making more offers, I have been looking at props 30+ DOM. In my mind, they are still sitting around for a reason. Again, if it was a good deal, it would be gone. I'm in Philly...investors everywhere......any thoughts?

I'm working a deal w/ $60k in IRS liens. I need a negotiator who can get that chopped down to improve my spread. I'm in the Philly area. Any referrals will be much appreciated.