All Forum Posts by: Patrick Britton

Nice work. I always like reading good stories.  And I really like your blog, especially the Excel spreadsheets and zoning maps.

Thanks :-) I found navigating the site to be pretty straightforward. Question for you though would be regarding the purchase and sales agreements they have in the File Place

There are a lot of different purchase and sales agreements so in your professional opinion, which one would you use?

In fact, this might be a discussion we have in person maybe later this month... I can bring all of them

I think you're always going to have situations where you think the buyer is viable but for whatever reason they actually aren't. It could be them or could just be the timing.  Don't forget the 80/20 rule. 80% of your businesses is going to come from 20% of your list. And 80% of your list is only going to give you the remaining 20%

Does anyone have a recommendation for an investor and wholesaler-friendly title company in Ann Arbor, Michigan?

And is Michigan an attorney state like New Jersey but unlike Washington state?

Hi Pamela,

Firstly congratulations on passing the exam.

I have a friend who is a wholesaler as well as a real estate broker (that's what we call realtors in Washington state) and his agency either doesn't know that he does wholesaling or doesn't care. Based on his experience and what he's told me, it appears he has a slight leg up on the competition given his access to MLS.

I think that if you were to work for an agency to be upfront with them about your intentions and hopefully avoid a very sticky situation down the line.

Admittedly, and I have a biased opinion here being a licensed loan officer in WA state, but I would suggest trying to find a licensed loan officer with some knowledge or experience with rental property owners and investors and pick up his or her brain. As well you want to find a real estate broker who has a focus on investment properties. Again, pick their brains.

I found that Brendan Turner on this site is a very valuable resource for buy-and-hold investors and the book "the ABCs of real estate investing" by Ken McElroy to be another excellent resource in general.

It wouldn't hurt also to go to a couple of property management companies and see what information or literature they can provide you. Sometimes, they'll offer seminars and workshops for people interested in rental properties as a means to advertise services.

Surprisingly, YouTube also has a decent amount of information so long as you can sort through the "guru" stuff.

You may also want to consider developing some relationships with some real estate brokers, title companies, lenders, hard money lenders and divorce attorneys.  You never know what they may know or come across.

While I've only been looking at wholesaling for the past 2 months or so I have already been able to spot about a half dozen properties that warrant an offer. Usually they come from some of the more obscure places but it doesn't hurt to have a well-established network of people in the business.

best of luck Rebecca and welcome!

nice.  best I can do is 31 days and that requires delayed financing exception which can be difficult for many people.  we have to follow Fannie to the tee though...for better or wrose 

seasoning is basically amount of time you have owned/financed the property.  so 6 months' seasoning is owning the property for 6 months.