All Forum Posts by: Ken Smith

@Cheryl P. - I think that it really depends on the individual investor and the actual cost to rehab a project or what actually needs to be done. Let me explain -

If the investor, is not a hands on kind of person (i.e. not skilled in home repair at all) or simply doesn't want to do it, then of course he'd hire somebody to do it - increasing his overall costs of the project, but might be cheaper than utilizing his time to do it or learn to do it. Depending on the size & scope of work, the investor might be better served finding other investments than painting a room or putting up a ceiling fan in one of his projects.

Now, if the project or scope of work really needs a qualified, licensed contractor (HVAC, electrical or plumbing come to mind), then I believe it's a contractor all the way, UNLESS the investor himself is from that industry and qualified to make the repairs himself. Like a licensed plumber/electrician turned investor -

I myself, an a real estate agent. So I prefer to do all the acquisition & resell myself, but will sub out almost everything else - because that's where my time is most valuable.

What I'm really talking about is the COST of the investors time...is the investor better served making physical labor repairs or finding other investments? - sometimes they enjoy making repairs and have the time, after hours so then it's just preference. However, I am NOT a fan of investors doing all the work, when they are NOT qualified to make the repair, and do a terrible job at it  or cover up terrible work - then it's just about the $$ saved, and usually ends up badly for the buyer at a later date.

just my opinion...

 do you write an addendum then releasing the assignor from all liability from date of the AOAA being fully executed? 

how do other wholesalers release liability from the assignor then?

I should have said that the AOAA form comes AFTER you are already in contract initially.

The AOAA form assigns the contract to a new buyer....THE SELLER STILL HAS TO SIGN THIS FORM!!!

should just be the RPA/RIPA & AOAA Form - you are still going to have to do the PRBS, BA & AD as with any transaction (part of the RPA/RIPA)

That get's you into the Purchase Agreement...after that, all the normal disclosures

@Brent Coombs - I'll check out the other threads... but by "double close", do you mean that I, as the agent represent both buyer & seller?

I can always write the purchase contract in my wife's name or an LLC, then assign the contract to the new buyer. That wouldn't mean it's a double close, but more like a finders or referral fee to whomever the contract was the original purchaser. Then, I could represent the buyer as I normally would.

Has anybody been successful in wholesaling real estate in CA in the last 6 months (AFTER the 11/14 C.A.R. Form change)?

Since the seller now has to sign the "new" AOAA Form, what if they refuse to allow the assignment?

If you're an agent, and you are wholesaling the property, do you "re-assign" it to a new buyer, and still/then represent them as a buyers agent?

I want to start wholesaling but am afraid that the seller may not like/understand what is happening when I try to Re-Assign the contract and refuse to sign the AOAA Form.

Has anybody been successful in wholesaling real estate in CA in the last 6 months (AFTER the 11/14 C.A.R. Form change)?

Since the seller now has to sign the "new" AOAA Form, what if they refuse to allow the assignment?

If you're an agent, and you are wholesaling the property, do you "re-assign" it to a new buyer, and still/then represent them as a buyers agent?

I want to start wholesaling but am afraid that the seller may not like/understand what is happening when I try to Re-Assign the contract and refuse to sign the AOAA Form.

I think online is better than classroom...learn at your own pace and absorb more.

Once you finish courses and pass the test, your broker you associate with is really where most of your knowledge will come from. My advice is get in with a broker that has really great training to start...Lyon or Keller Williams I hear are both great for new agents - but quite expensive to work for..however, you get a lot of good training. Most agents find that Re/Max has the best solution for experience agents and still great resources...

I started with a small boutique brokerage, and got 0 training and I floundered for 6 months before I started to really get how it all worked...don't make the same mistake I did - in retrospect, I wasted time and lost deals because of it. If you can find an agent to shadow and even give them a % of your first 1-2 deals to walk you through...be sure to actually get hands on training by a PRODUCING AGENT!!!

Hope that helps and "Welcome To The Jungle"!

My name is Ken Smith, and I am an 8 yr veteran real estate agent (I'm with Re/Max Gold) - If you are looking for Sacramento/Placer County Investments, we need to talk. I have extensive experience in all aspects of Real Estate Investing, 1031 Exchanges, Property Management and even lending!

Looking for serious investors, who are looking to purchase in the Now or in the next 60 days - I find great properties for investors but we have to act fast because hot properties DON'T LAST LONG! My time is for clients who are serious and don't waste my time, because I won't waste yours with properties that don't perform!

Please visit my profile and don't hesitate to email or call me.

Hello Rami,

As Nick Muncee mentioned, I am a very experience real estate agent in the Sacramento market. I am extremely experience in investments, ROI, and turnkey investing. I do not do property management (anymore), that's how Nick and I initially connected...am referring property management services to him after acquisition. We both have had great experiences with each others services so we are part of a turnkey solution for investors!

Please call/email me if you have any questions - i'm always available for my clients.