All Forum Posts by: Account Closed

@Anish Tolia..... Perhaps what you imply works for established folks with a parachutte or how ever its spelled.

I saw a FSBO in FL the other day purchased at April 2018 at $190K. Comps support $215K within the last 3 months.... I have it today at $165K bottom line or less.....Husband and wife made an agreement and I know the bottom line....

So if there is value add, the wholesaler should not be in the bad guy category?  Actually, the OP post should be directed to to the bad guy investor, IMO.

@Griffin McKisson.  Google real estate license abbreviations, pick one n go

To any wholesalers out there that are new, just remember this.... Everyone in REI started as a newbie 1000 of yrs ago. Its always going to be a work in progress. Always. Some folks invest in distress markets and keep it distressed.... They be waiting on the progress too.

@Van Blackman, your below is on point.... I have to go thru my buyers' Sr. Acquisitions & Dispositions managers, and yes, all ask me first where is my assignment fee,finders fee etc., and will tell me what they will do if interested in the property.... For example. Recently there was a 200+ SFR off market portfolio all over the internet in the Atlanta Market. Because it came from an agent I sent it to buyer.... Of course they see all asset manager releases, but instead of saying they had seen it already, they gave me an offer of 70-75% of asking price.... Never could contact the contract holder. Yes, I found out who the REIT was who released the assets, but prior contractual agreements precluded n e thing I could do.

I agree with just about everything you replied because I have been there.

"You'll also need to disclose to your buyer all the terms of your original contract you're assigning, which means they'll know how much you're making on any given deal. Also could be a touchy subject, but if handled correctly, should be no big deal."

@Van Blackman, your below is on point.... I have to go thru my buyers' Sr. Acquisitions & Dispositions managers, and yes, all ask me first where is my assignment fee,finders fee etc., and will tell me what they will do if interested in the property.... For example. Recently there was a 200+ SFR off market portfolio all over the internet in the Atlanta Market. Because it came from an agent I sent it to buyer.... Of course they see all asset manager releases, but instead of saying they had seen it already, they gave me an offer of 70-75% of asking price.... Never could contact the contract holder. Yes, I found out who the REIT was who released the assets, but prior contractual agreements precluded n e thing I could do.

I agree with just about everything you replied because I have been there.

"You'll also need to disclose to your buyer all the terms of your original contract you're assigning, which means they'll know how much you're making on any given deal. Also could be a touchy subject, but if handled correctly, should be no big deal."

When someone has a verified buyers list which includes equity investors that are looking for off market inventory in FL and GA, and they are willing to work with you in their operating regions, how does wholesaling work in GA and FL?  

I think there are only 2 components to wholesaling 1) assigning contracts (table flipping); 2) double closing (taking title and reselling).... The posts here about these 2 states varies from legal and illegal....

Practically all deliverable inventory I currently see is in these 2 states. 

How do wholesalers operate in their states?