All Forum Posts by: Roland Paicely

Actually, it's not a big deal either way.  When you talk to the owner, mention that you forgot to write down the address or didn't see it.  They'll give it to you.  Then ask about the property:  number of bedrooms, bathrooms, repairs, why they are selling it and of course how much they want for it.  Then do your research and make an offer.

What is an AOC.  Is that assignment of contract?

I recommend going to your local REIA. They can answer all of your questions.

'Do you need a license?'.  It depends on who you ask.  Although, I'm sure that there is a definitive answer to that in your state.  Check with a lawyer on that one.  Still, even if it's illegal I'm pretty sure that there are many wholesalers without a license.  

The next step is to find a motivated seller.  Of course, some will say that the next step is to build your buyers list.  Both are probably correct.  Pick one and go for it.................Good luck!

A lot of sellers don't want to deal with the hassle of selling it themselves.  Many believe that in order to sell it that they need to do all of the repairs, show the house over and over again, negotiate endlessly and know the State forms forward and backward.  There are plenty of other reasons.  But hopefully you get the idea.

I can't use the State form because it states that it isn't assignable.  Instead of using the States 10 page form.  I use my 1 page form.  

It can vary by the person.  I'd recommend touching base with local investors and ask them what return they want.

My main deal breaker is a wholesaler that continually brings me deals that are not close to a deal in regards to the price.  

Gurus may not have mentioned that the deal needs equity because it could be that they are assuming that everyone knows that.  They shouldn't leave out a detail as important as that.  All 'traditional' wholesale deals need equity.  

@Debra Thomson it's the same here in Raleigh.  The market has been strong for years.