All Forum Posts by: Cliff B

Has anyone on this forum closed a virtual wholesale deal before?

Thanks guys. I just called the seller and let him know i wouldnt be able to do the deal. Besides the fact that i didnt think about earnest money, I want to get a little more experience under my belt wholesaling before i do short sales. This wouldve been my first deal period and i definitely didnt wanna waste the seller's time trying to "get my feet wet" when he needs a solution. I'll just keep searching for deals. Hopefully soon i'll be able to help people in these type of situations out.

Hey everyone, i need clarity on the process of flipping a short sale deal. my understanding is that if it has been approved, all i need to do is submit an offer to the bank and see whether they accept it or not, then find an end buyer and double close. am i missing anything?

The reason im asking is because i had a motivated seller call me saying they wanted to get rid of a house and they were "in the process" of doing a short sale. They are using a realtor and im supposed to meet with him to make an offer, so any advice on dealing with realtors would be beneficial to me as well..

Thanks Dick, good to be here!

Douglas those are some good thoughts. Hmm i think determining a good deal would draw on all three of those points... knowing the market is a must, and I'm sure that with experience I'll get a better feel for what's a good deal and what's not a good deal. Also just knowing what people are looking for... putting myself in the shoes of a buyer like you said. The numbers are important (ARV, cost of repairs etc.), but things like the area and circumstances surrounding the property are important as well. I used to think it was all about the money but now i understand that this is a PEOPLE business, and that building good relationships is key to success. I think the best way to do that is by being genuine and helping people on both ends...

I still need a little direction, but I'm sure I can figure it out (especially with help here) because I dont think anybody got into this business knowing everything... one of the best ways i learn is by experience and learning from other people's experience. Thats the main reason i chose wholesaling to start out, because of the little risk involved I can learn the ropes. I appreciate the advice and the questions, it's helping me already. Keep it comin'!

Thanks, good to be here.

Good questions. Right now I'm focused on wholesaling in southern California. Bringing in good leads, getting them under contract, then passing those deals on to other investors, collecting my assignment fee.

I don't own any properties yet. What would make me a good wholesaler is my ability to facilitate good deals that no investor would be able to pass up.

I could get deeper but those are my nutshell answers for now... good questions though. Any suggestions/ critiques are welcome and appreciated, this type of stuff is what I need.

Hey everyone! Cliff here from sunny California, glad to finally be here officially. I'm a new wholesaler in the greater LA area and southern CA in general. Looking forward to learning and networking with all the great people here. I've been reading the forums for a while and thought it was about time for me to join the band, so here goes! Much love to everyone out there!