All Forum Posts by: Marc Maitre

It sounds like you're jumping in and not understanding what wholesaling is. You have equitable interest in a property you can assign to an end buyer. First, stop thinking you are lying to sellers because there is value to be added by wholesalers. If it makes you feel comfortable, first, I will go the bird-dog route to connect with actual investors and buyers and go out and find deals for them. That will get you to experience doing off-market research and lead generation. Secondly, you must ensure you get the property at a considerable discount and have clauses on your contract to opt out of the deal. I have rebuttals if the seller asks questions about whether you are buying the property. Please send me a DM

I agree with a few folks here; there's too much that goes into it. I promise you if you google it you'll have thousands of videos you can watch. Trust me to learn to be self-reliant and find solutions to basic questions the answer is on google or youtube. 

I don't understand your question. Are you wholesaling a deal that an investor has, or are you saying the seller is asking you for EMD? If the latter doesn't overcomplicate it, the end buyer puts the EMD down. 1% of purchasing price or 500-1k. They have 48hrs after signing the assignment contract to submit EMD to the title company. I don't know what @John Thedford is talking about, but wholesaling is not fraudulent unless I misunderstand his statement which he would need to clarify if he wants to

1% of the asking price is not too bad, but honestly, I've done all my deals with no EMD. So ask for a minimum of 1k. They must be submitted to the closing title company or attorney's office no later than 48hrs after signing. Everything goes to the title company or attorney's office.

My first thought is that they are not motivated; their defense is up from bad experiences from their past. Or they got a little bird in their ears telling them ridiculous things like ask for 15% down for off-market properties. Either way, as many have stated above, dig deeper, ask them why they are looking for 15% down, and explain to them as @Will Barnard did; tieing up my cash like that is not a good investment for me. Also, to answer your question, the end buyer pays the EMD. Just make sure it's reasonable. No real investor will put 15% down unless it's a fantastic deal. EMD is not a big deal because it's going to the title company anyways; get you a buyer and make sure that they agree to the EMD, and submit the EMD to the title 48 hours after being under contract. Trust me, and if they don't cancel the contract with them. Best of luck

First thing first, wholesaling is freaking hard, and those who do a deal in 30 days make a 10+k a month are unicorns God ordained that to be their blessing, so comparing yourself to do isn't a good thing to do trust me, I know. But the ones that get in thinking it's easy because those gurus make it seem so are the ones who will find out the hard way that it's not and quit for all the reasons you have listed above and many more. It's really funny watching certain people talk about wholesaling on IG " no money, no credit, just get you a house on Zillow that needs work, call the seller put it under contract, find a buyer and make 10k or more" lol there are about 20 steps in between each, but you have to pay $1k to find out lol smh 

Don't send your contract to them; all they need to know is the address, hopefully, you register it at the county so they can't go behind your back. I would create ane page JV agreement structure. and send that over to the title company

Look into your state law about wholesaling and assignment of contracts. But unless his contract states that the agreement allows him to post it on the MLS, he can't do it, from my understanding.

I don't get this question; first off. Motivation and conditions should determine how deep of a discount you get. Thinking you should be getting a discount just because you feel you should is not the way to think about it. If there's a tenant, look at their lease; make sure they pay on time.; get you an Estoppel of certificate. Do a walkthrough to make sure they aren't dirty and tenants not keeping up with the place, and see if they would be willing to move out Cash for keys in 6 months. Or if they would be willing to pay higher rent once it's fixed up. If there's a tenant, the investor will also want to look at Cash on Cash, ROI, and cash flow, ensuring it meets the 1% rule.

From what I understand, you build relationships first, get on local Facebook groups for the area you want and connect with local wholesalers, investors, flippers, and realtors or find a local realtor who also invests here in bigger pockets and let him or her know what your investment goals are and build that relationship. Once you do that, I think it's pretty easy but not guaranteed. If you do have funds, I would do what @Theresa Harris said and visit a property you like, make it a business day, and have several you can see all at once. But if you're broke as a joke and can't fly out, then using a trusted realtor in that area that can take multiple videos and over 100 pictures of the interior and exterior can also be beneficial.