All Forum Posts by: Robin Vidovich

Brian,
I assume that you have a contractor go through the property for you to determine what rehab is needed. Otherwise how would you know if you had a good deal. If you do then I see no reason to go through it yourself. As long as the numbers work.

I wholeheartedly agree with Aaron. Start at the very begining and applie what you know. Once you have a few of those under your belt and understand the process then learn about REOs, Short Sales, etc. It won't take long to get through your first few deals but if you are dong something wrong and add another system into the mix of wholeselling, you could have complete failure.

I agree with Jeff. Make notes on your cards. At the end of the night after talking to 50 people you are not very likely to remember who was who.

Robin

Welcome! BP is a great start for increasing your RE investing knowledge. Be a sponge.

Robin

John,
Why would you be doing a short sale deal with out making any money???

Just curious.

Tiara,
Each wholesaler structures their deals differently. Some times it is structured by what type of buyer you have.

I typically have the title company hold the deposit check after I have identified an end buyer.

Robin

As a wholesaler you make a profit so the title company if they are cutting you a check need to report it as income. Either your EIN or SS# is necessary from my experience.

Robin

For straight up deals that I believe don't have issues, the title is done only after the contract is assigned in preparation for the close at the title company.

Robin

Not in a good position. The only pearl of wisdom that I have from you is to NEVER work with this person again if they don't do what they say.

I assume that you did not have an exclusive contract with the 1st wholesaler. Preventing them from cutting you out of the deal.

I have and do gentleman's agreements all of the time and know that it is a small world if I go back on my world.

You may have just learned a $10K lesson.

Keep us posted. I hate to think that there are so many unethical people out there.

Robin

D is not a principal in the deal. My understanding is that you need to be a principal in the deal (ie YOU get the property under contract). If D is a Realtor wouldn't a typical broker fee apply???