All Forum Posts by: Ralph C.

@Marty True

Market and find your deals. Make offers and create deals. Agents that are adding on fees and blasting out "deals" probably don't have a single listing. Most unlicensed brokers don't know what they are doing. I just saw a house worth 400K put under contract by a fraud with $20 EMD and at almost 600K. Of course they walked LOL! I have turned in a dozen of these people and will continue to. The state investigator stated the "VICTIMS are often the elderly and people with a poor grasp of the english language".

@Clifford Roe the issue is not where the deal is coming from, the issue is that because of the daisy chaining from the original contract owner, through all the layers of agents' fees that get added - it is in fact, no longer a deal at all by the time it reaches us buyers.

To elaborate the "daisy chain" affect - the agents are not just adding their fee onto the original contract holder's price. They are adding it on top of another "re-wholesaler" so as I previously mentioned, say the original wholesaler puts it out for $100k; then an agent/wholesaler company tags it with a $10k fee; then another wholesaler gets that company's "list" and they put another $10k on top of that... so now the $100k deal is coming to me for $120k with an ARV of $150k and it needs $15-20k in rehab... not really a "wholesale" deal at this point.

Again, I could care less how many people are trying to get free money off a deal because they are licensed (ok maybe I care a little bit) - if the deal has some "meat on the bone" for us end investor/buyers to make money on (after rehab) then great! Everyone wins. 

So as an agent that puts out a list of 20 wholesale properties (other people's deals), twice a week - how about putting $1k or $2k on the deal since you are putting out so many properties? Why try and put $5k-$15k on 40 properties a week, that you will never even touch? This is what kills these deals for us end buyers!

I would just like to see wholesaling done properly and ethically so that it can be a more viable source for deal flow. These gurus are obviously becoming so believable that even the RE agents are jumping in the deep end...

Each deal should stand on its own regardless of who is selling it. If a mark-up doesn't destroy the deal the question of what you could have gotten it for is mute. I'm licensed and create wholesale deals. Are you not going to buy from me because I'm the one that got the deal? I am required by law to disclose that I'm licensed. In my experience most of the unlicensed wholesalers have no clue what they are doing or what a property is worth; the same can be said for many licensed agents. I buy and flip, do 50/50 and make hard money loans. Each deal is based on its profit potential, not where it came from. 

I concur. 

Jarvis
I am new also only been doing this since October. Let me know how I can help. I am looking to network with some good folks. I am located in Georgia also. Reach out if you need some help. I need to get some real Buyers out there. I am finding properties just no one to buy them.

Thanks
Scott

I'm sending letters to absentee owners. So far two calls. One lady rents out the property and just finished renovating it, the other is just land without a house interested in selling.

I'm sure I'll beat listsource pricing!

Just having every address in a county is not really worth anything. As mentioned above, if you could get the length of ownership that would be great, but is that in the data that you have??

People behind on taxes, people who are recently divorced, modifications. There are a bunch of qualifying issues that you can filter, but CAN you filter your data by those items??

There is a company that has done all of that for you, Real Acquisitions. They are located in Houston.

Thanks @Ralph C.

Hello All,

My quest to acquire wholesale deals has led me to acquire the list of ALL the properties in Harris County (using my technology expertise and background) - this data is available in Excel, can be filtered by a whole lot of criteria/

I am curious to hear your thoughts on how would you use this data if you had access to it? 

Newbie question. Do buyer broker contracts specify geographical area? For example, I am looking at buying rental properties in Georgia and South Carolina, but can I have two simultaneous buyer-broker contracts for each area? I want to work with realtors in each area that know the area well. Is area just something I work out in the contract with them?