All Forum Posts by: Daniel Paloscio

Do you already have a property under contract? If so and if you have access to the MLS or a good relationship with a realtor, you can do a search in the area of your property for cash sales within the last year. Then you can reach out to each realtor and tell them about your deal for their clients that paid cash in your area. You can offer them a commission on the deal or not, many times realtors can collect from their buyers on the acquisition and/or the disposition.

Another option, which most people frown upon, would be to put bandit signs out at busy intersections surrounding your property. You will get a ton of calls on these. This is a great way to start building your buyers list. You can also post a deal on craigslist & zillow and collect buyer data this way as well (depending on the laws in your state)

If you don't already have a property under contract, my suggestion would be to contract one first. If you are offering a property at a reasonable price you will have no problem finding a buyer with the methods above and your buyers list will start growing quick. 

@Will Little if you have an investor friendly title company in CA that is licensed in the states that you are considering, then you should definitely use them if you like them. Most title companies are not licensed nationwide so the chances that you find someone you like in CA that can operate in different states is slim. We fund nationwide and have awesome title companies or closing attorney's in every state. If you know which markets you are considering shoot me a pm and I'd be happy to give you a the names of some investor friendly title companies in those areas. 

@James Ian Murray we fund a lot of closings in TX and work with the following title companies. They are all excellent, very familiar with wholesaling and can process all of the closings you mentioned with the exception of dry closings/closings in escrow. Texas is a tough state for dry closings. Feel free to PM me if you'd like direct contact info.

OSN Texas
Republic Title of Texas
Capital Title

In Florida we have the FAR-BAR contract. It's a purchase and sale agreement that is created by the Florida Bar & The Florida Association of Realtors. It's pretty standard for on-market transactions. You should have something similar in your market. I would start there by reaching out to local realtors, asking them if they can send you a copy of the most recent revision so that you can review it. I have used the standard FAR-BAR to wholesale many deals. 

You can always hire an attorney to make you a contract for future deals, but you want to be careful with using template contracts off of the internet or from guru's. Each state has its own set of rules and what might be common in one state might be illegal in another. I would go this route until you decide to have an attorney draft you up your own contract. If you use an attorney familiar with wholesaling, it should cost you around $500.

Another thing you could do would be to reach out to local wholesalers in your market and see if they are willing to share their contracts with you, then have your attorney reviews those purchase & sale agreements. 

Let us know how it works out!

@Hemal Adani check out Vacation Rentals of Florida bookvrof.com

@Kimberlyn L Moultrie no, if you cancel the contract within your inspection period you will not owe the title company anything. Another thing you might want to try would be to push for the end buyer to write the emd check out to your company, then deposit it directly into your bank account, leaving your escrow with title. This way, if the end buyer does not perform, you already have their escrow and you do not need to fight with them over signing the release documents for title. Good luck with your deal!

PM Title has offices throughout Ohio and they are awesome. We have funded a number of closings with them and I'd be happy to share contact info with you if you want to shoot me a direct message. 

 Awesome! Glad I could help! Feel free to reach out if you run into any other bumps in the road!

@Jason Sung if you have an assignable contract you could sell the paper (assign it). If not, which most on-market mls contracts are written up un-assignable, you could always double close. You do not need anyones permission to double close. If you plan on doing that, I would consider making your realtor aware. Other than that, all you’d need to do would be find a buyer. It helps closing both transactions with the same title company, but if the seller chose the title company be cognizant that title may let the seller know about the double closing, so you’ll want to navigate those waters carefully.

Hey @Bradley Letts we fund lots of double closings in South Carolina and have worked with the below escrow attorney's on several deals. They work with a lot of wholesalers and can get a double closing done. 

Law Offices of James B. Hindersman

Hankin & Pack

Feel free to dm me if you'd like direct contact info.