All Forum Posts by: Rashawn Stevens

Hello BP, 

I have been doing some research trying to find cheaper ways to market and better ways to find motivated sellers. I have come across facebook ads frequently, but many people are saying that they have mixed results with them. Has anyone used Facebook ads for finding motivated sellers and had success with it? Is there any one teaching any course for FB marketing for Real estate investing? All feedback is appreciated. Thanks 

Hello Brandon i'm still new to wholesaling myself i'm currently in the process of closing my first deal. But here are some helpful tips that I think you can use and will answer your question:

1. I never let a seller know that I will be assigning the contract to the property so the conversation is never even brought up. I always tell them that either I will buy there property or one of my partners will ( I always refer to my end buyers as partners) but either way they will receive the agreed upon amount for there property. ( Sellers don't care who buys there property they just want it sold).

2. In the Purchase and Sale Agreement I have in the contract that the PSA could be assigned and that the seller is not entitled to the assignment fee.

3. Don't use an actual " Assignment of Contract". You want to use two purchase agreements, One between you and the seller, and one between you and your end buyer. This way you are never discussing assignment fees and only discussing the purchase price. If you work with an investor friendly title company they will know that the differences in the two contracts is your assignment fee. You can also ask them if they will leave your assignment fee off of the HUD statement.

Hopes this helps.

@George Temes NEVER in this question did I say that the title was clear or did I say that I told the seller the title was clear. Not sure where you pulled that from. 

Hello BP, I have gotten my seller to sign the Purchase Agreement and I also have had my cash buyer sign the assignment of contract and submit me $500 non refundable EMD. There are alot of things that I am confused about 1. When your Cash buyer signs the assignment of contract do you make a separate Purchase Agreement with them? 2. When a buyer gives you non refundable EMD and the title on the property comes back dirty and the deal cant be done or the seller backs out who pays for that title search me or the End buyer?

I am  beginning to see this. I will definitely be more selective in my approach to deals. Thanks @Alex Deacon

@Alex Deacon I was thinking the same thing this deal sounds like a complete dub and waste of time. I was trying to be creative and think of a solution to this problem but I may have to let this go. thanks for the reply.

Hello BP, I had a lady contact me saying that she was interested in selling her house. The house is in great shape BUT she owes about the same amount that the house is worth. I asked her about her loan on the home and she said its an interest only loan. She owes so much on this house, and the loan terms look really bad. I have done some research and I think this may be a Subject to deal, but I I dont know what I am doing in regards to subject too. what should I do with this deal?

I tired reaching out to contractors but they wont work with me unless I pay them $300. @Allie Pfannenstiel

I am trying to get rehab estimates for a property so I can wholesale it and no contractors are willing to do it unless I give them $300. Wholesalers how are you guys coming up with your rehab estimates? 

I have a deal similar in numbers under contract now and it will be my first flip, congrats!