All Forum Posts by: Robert Sutton

Three bedroom 2 bath.1 full bath 1 half bath.1125 Sq. ft. Garage 345 SQ ft not converted. Estimated ARV 250,000 depending on rehab Estimated rehab 50kneeds foundation, roof and remodel. This is an assignment. An investor friend of mine has this under contract, and was going to do this one themselves but is inundated with good deals right now. The Closing Date is 7/31. Need 5000.00 non refundable deposit. Must use capital Title in Plano since they already have the file open and ready to go. I'll need you to sign an Intermediary disclosure form. asking 180 OBO. Call or email for more details or to view it.

I'm a Realtor and a loan officer. I have a friend who is also my GC buddy. I want to put together a sub2 deal for him, but there is not a promulgated trec form. In Texas, we can't use our own contracts unless a lawyer put it together. Has any Texas realtors helped anyone put together a sub 2 deal out here? My other option could be a leaseback for the payoff amount with the consideration of whatever he puts down. 

@Gail K. Did you sue her?!

@Eric James you’re from Malakoff?

@Ken Nyczaj thanks man I’m going to do just that. Just scared because I’m used to that guaranteed paycheck.

@Terrance Clark here in Dallas I been to a few continuing education classes teaching how you can wholesale and also be a agent. I’ve talked to and seen people do it and I’ve also seen agents and brokers whine about it on the sidelines. There’s a way to do it. I’m not writing offers I can’t close or don’t intend to close. I have a friend who’s an investor, and I list all his properties. He wants me to find him a deal. In order to find him a deal I need to be doing what wholesalers are doing. If he passes on the deal I’ll assign it to someone else or close on it. It’s legal. You can buy a house for yourself and negotiate a good deal for yourself. Just disclose your a licensed agent in the contract. Don’t get hung up on the realtor mentality. If I work for a wholesaler and get a percentage of the assignment fee I’m writing the offer for the investor and not me and I’d be representing the investor anyway. We don’t do dual agency here in Texas. I’m going to learn how to do it from this guy and stack up enough to do a deals on my own. If you market to motivated sellers you’ll get listings too as a side bonus. I recommend you check out Jason Morris real estate stuff.

@Terrance Clark so how were doing it is you make the offer in a llc name. I’ve been watching a few guys do it and be successful.

I am getting laid off my w2 job here in a few weeks. I also have a active real estate license in Texas. Im thinking about going to work with a buddy of mine who works for a wholesaling company. He said you get 20% of the assignment fee. I figured I might as well since I’ll have some unemployment and and severance pay to get me by while I grind for deals. Does anyone have any advice or thoughts on what they would do in my situation. I get listings here and there from an investor friend of mine who does fix and flips. He is strongly urging me to learn how to do this as well.

@Jesse Stein

Unfortunately in Texas we might turn blue and get entitled minded tenants. So far just inflated prices, and woke nonesense.

@Joshua D baker with everything going on I’d keep the paid off ones as piece of mind. I would just set up a heloc with the paid off ones and use the heloc make cash offers and pay for the rehab. Once the rehab and everything is rolling just refinanced Triston lay back the heloc. Do it again one house at a time safely.