All Forum Posts by: Mike B.

Um, yeah this is all that my attorney friend does so you're gonna lose that bet. 

Now, of course it depends on how you define the terms, and what happens and what time of year and all sorts of other factors. 

The first trick of course is to AVOID eviction with cash for keys. 

The second trick is to file and work out a settlement that gets the tenant out without having to wait for the final order and sheriff to serve. A skilled eviction lawyer like my buddy can get someone out in 2-3 months using eviction. That's the bottom line. Remember: it's in the tenant's interest to NOT have an eviction order on their record so it's worth their while to negotiate once the thing is filed AND if you work it out you can agree to seal the file so there's no record of it against the tenant. 

But I do love how you armchair attorneys know more than the litigation attorneys. 

@Tony Roberts I am an out of state landlord. I get calls and texts and yellow letters and postcards all the time offering to "buy" my property. I have never been cold called.by a realtor. Thats the difference.

 What the hell dude. I am FAMOUS!!

@Jerryll Noorden I understand that everything is situational, but the specific numbers he provided gave no context and was specifically constructed to make realtors look bad. I'm not saying that all of his points aren't valid, I was only trying to show that that one specific point was not constructed well, there are certainly situations where those numbers hold to be true and I can't refute that. But offering those numbers up as a "this is always true" statement is inherently false. I even acknowledged that in my original post, that there are situations where using a wholesaler may cost the initial seller less.

The benefit of providing an unbiased argument (even if you yourself are biased) is it allows others to see how you think and the real benefits of using your way of things with as much of the necessary information as possible. Giving a flat statement like that is misleading because there is no possible way that those numbers always hold true.

On a separate note, your use of condescending language tells me that you've only come to defend your friend instead of providing something useful to the conversation. I would really appreciate it if you would refrain from treating me and other people on the internet like some monkey with a keyboard because we have a slight disagreement. Especially given this is a networking forum where many people expect the respect and professionalism that you would expect from other industry professionals.

I rarely is ever see wholesalers who do this. The majority (not all) are new to REI and have no money. They can't guarantee anything. Most offer $0-100 EMD, not $5000 (just look through forum posts on the subject).

The larger outfits probably can, but I see more people discussing clauses to get out of wholesale deals, than ways to close if they can’t find a buyer.

I’m not saying everyone should go realtor verse wholesaler, as it seems most wholesale deals the seller wasn’t even a seller until contacted, and that to me is where the wholesaler stands out (marketing to potential leads). I just don’t agree the wholesaler “will” sell the house in instances a realtor won’t. In the market we are in, deals get tons of offers from flippers/buy and holders.

@Mike B. While I'm not someone who has any experience with wholesaling, that last point isn't really a fair argument to make because those numbers are situational. I know that a realtors commission is a percentage of the total value of the home, so if you're competing for the sale of an expensive home those may hold true but what about with cheaper homes. 

In my hometown, a lot of the flips that I see are being sold initially for around 50-70k. Your 10k upcharge is going to be significantly more of the equity than the commission of a realtor. A true unbiased argument there should have been "A wholesaler will put in similar amounts of effort to a realtor for less of a cut on higher priced homes (If your cut is 10k then your generally going to make less than an agent on homes priced over 167k).