All Forum Posts by: Corey Demuth

never mind, realized my own mistake lol.

but so seriously what are you guys talking about with the "big red hotels" ? I know its a monopoly reference but what real world thing does it represent

does the llc have to be in the same state as the property you want to add to it? what if you own properties in multiple states?

can anyone explain in detail what the arrangement is between the original seller and the wholesaler? Do you tell them you're a wholesaler or do you initially lead them to believe you are interested in buying the property yourself?

Also, what is the agreement you make with them? I understand there is a contract of sorts but can anyone provide details? Does this contract give you exclusive rights to sell the property for a given timeframe (ie the seller can't sell it to someone else and just give you your deposit back, if he finds a better offer?) If so, how long is this period? How much of a deposit do you need to give them, and do you give it directly to the seller or is it in escrow somehow?

best hosting hands down - steadfast.net

take it from the IT pro, they're the best.

thank god, finally a place where people acknowledge that obama is a friggin idiot. His speech the other day was so long I don't think anyone even stayed awake through it, never mind got the gist of what he was saying. How about less talk more fixing things and stop increasing the debt even more than it already is, jackass.

...anybody?

I'm confused (I'm very new to all of this) are you saying you want them to say YES to those questions, or NO?

If you want them to say yes, what do those options entail exactly? How do you "take over someone's payments" and how does that benefit you? What is leasing a house?

First, can anyone explain in detail what the arrangement is between the original seller and the wholesaler? Do you tell them you're a wholesaler or do you initially lead them to believe you are interested in buying the property yourself?

Also, what is the agreement you make with them? I understand there is a contract of sorts but can anyone provide details? Does this contract give you exclusive rights to sell the property for a given timeframe (ie the seller can't sell it to someone else and just give you your deposit back, if he finds a better offer?) If so, how long is this period? How much of a deposit do you need to give them, and do you give it directly to the seller or is it in escrow somehow?

How much cash should you have on hand to try wholesaling? I know nothing is free so I just want an accurate idea of what it takes to get started.

Regarding the whole 50% ARV concept, does this mean you need to try to get the seller to sell you the property for half of what it will be worth after someone repairs it? How do you get an accurate estimate of what the ARV will be?

What happens if bad things occur after you have completed your part of the deal? ie say everything goes through, you get your cut and the seller gets paid, your buyer starts work and finds out there was something hidden that needs to be repaired ie plumbing, wiring, etc. Can you get dragged into this? Legally, are you at all responsible?

Lastly, (for now) are there any wholesalers who would like to take on an apprentice?? I'd love a chance to learn the business before I jump in headfirst.

Can you point me to some of these properties you're talking about? Do you own rental properties in CA? If so, what management company do you use? Thanks!