All Forum Posts by: Patrick Britton

not to sound like i know everybody, but I worked at a bank many years ago and had a client who was a professional "suer."  every few years she'd come in with a check for 200 - 800k from some lawsuit she won.  she didnt have a regular job - she just sucked on the system like a parasite.  

again, lots of people out there who do not care what damage they inflict.  they're just after a buck at all costs.

Great story.  not that what happened to you is good but great detail.  

I friend of my is a detective and he said that the vast majority of theft related stuff is BS, but they still have to look into it. The fact that the detective and not the cops showed up is really good.  the fact that you got angry is GOOD.  innocent people get angry when accused of something they didn't do.  

quite frankly, the real estate business attracts a lot of unscrupulous and unsavory characters.  don't take it personally.  i'd bet that 1 in every 20 of us will run into the law at some point in our careers.   most of it will be just a waste of our time.
although polygraphs are inadmissible, i think the detective wanted to see if he was wasting his time pursuing you.  a friend of mine was accused of rape and he, like you, was absolutely furious and took a polygraph within a day.  he showed the results to the detectives and very shortly after the charges were dropped.  

as much as i'm sure you'd like to walk up to them and spit in their faces later this month, i'd advise professionalism.  however, it might be a good deed to warn others that they fabricate stories about innocent people.  maybe their accusations will dissuade others from working with them.

stick with it and best of luck.  go make a ton of money and buy your daughters something nice.  the looks on their faces will make it all worth it :) 

NICE WORK!  now that's what I'm talking about!!!

Hi folks,

I'd love to hear more success stories from wholesaling.  anyone care to share?  tell me what it feels like to hold a paycheck for $5,000, $10,000 or more :)

congrats!  love to hear stories like yours.  great work

that's awesome.  I'd love to hear more stories.  anyone else?  stuff like thisd is inspiring

no sweat :)

find the properties and the buyers will come :)

hi,

if I have a list of people who've received a notice of trustee's sale, how can I use it for wholesaling purposes?  I recognize that time is of critical importance but when a property is in this situation are contract assignments even allowed? 

thanks! 

Welcome,

first thing, there is very little difference between "regular" and reverse wholesaling.  with reverse, you have a list of buyers ready to get whatever you can send them, whereas with "regular" you find the properties and get them under contract first.  i think most people will tell you the most important part is actually getting the property under contract, the rest can fall into place.  

in terms of weeding out good from bad, if you have a solid deal and they can close within 3 - 4 weeks, then you have a good buyer. it never hurts if they've dealt with wholesalers before or are comfortable with your assignment fee. As well, I would look for someone who can make a decision very, very quickly. In fact, if you can provide them with a good and reasonable ARV or any other number they should be able to make a decision shortly after their own inspection. This is a business can't make a decision after getting their numbers in seeing yours when they're not worth your time.

I know this isn't really answering a question but I wouldn't worry too much about finding good buyers because when you lock in a solid deal, they will come for you provided you market it correctly once under contract of course.

I agree with Paul that it's actually standard operating procedure to do the inspection after the offer has been accepted. Around here, an inspection will cost you at least $200 so why waste that kind of money when you may not have your offer accepted?

As well, you'll also want to have a due diligence and/or feasibility clause which will allow you to get out of the contract if you change your mind - or in the case of wholesaling, cannot find an end buyer.