All Forum Posts by: Rich Wahl

Phillip, any update on your progress? I'm curious because I'm mailing my first batch of postcards on Monday. I'm hoping you had success!

@John Horner

Thanks for the advice! I feel as if a lawyer is better as well, would offering a contingency be an insult to them? Or should I just bite the bullet and if I get a house under contract have them draft up the paperwork and hope I don't lose the earnest money and/or the fee for the contract review?

hi everyone.

I'm wondering if it makes sense for me to let a realtor I know here handle the contract portion of myfirst and second deal so i can learn from her.

Im not too worried about cutting into my profit on the first and second deal but rather more worried about messing something up legally, as that is the area I know the least about.

I contacted a lawyer in my area and he said he charged $1500 for contract reviews, which I know is high.

So my question is, do i use a rea or a layer to handle my contracts the first few times?

Thanks for your input !

That ir is absurd, unless she hasn't done a refi since 1989.

Good luck Andrew! I am mailing my first letters out on Monday so I'd be very interested to hear your experience. Hopefully it's good!!

Going off of the idea of having an attorney look at the contract, which I agree is a good idea, do you guys think handing this type of deal over to an actual real estate agent to handle the first few times to learn from them is a good idea?

Is that something that they'd even be willing to get involved in? I guess dual commissions would be enticing to fhem. Thoughts?

@rich f thanks so much!

I'll be sure to check them out.

Hi bp!

I want to mail my first natch of postcards out today and officially he started!! Im very excited but am wondering what postcard companies y'all have used before and would recommend .

I plan to do about 50 per week in groups of 3 so I can hit my 5-7 exposures quicker.

Thanks!

@Travis Daggett

Thanks so much for the advice! That is very helpful.

So another issue arose when I contacted a lawyer just now. He made it seem like I was doing something criminal or illegal. He was very snobby and let me know that his law firm would not handle these type of transactions, and actually told me what I was doing was illegal. I'm fairly certain I explained it to him the correct way, although he did not seem too interested in listening.

Can anyone shed any light on why this lawyer would look down upon any transactions of this type?

Hi all,

So I'm in the process of putting everything in place to begin wholesaling, and one of the main areas of concern for me is how to utilize a lawyer.

I've been in contact with a few around my area here, and a lot of them want retainer fees or charge an outrageous amount ($1,500 per contract review). Maybe that is normal, but I would like to know BPs experience when it comes to dealing with lawyers and how they utilize them.

Do you have a lawyer write up each contract? Do you use a standardized contract and if the buyer and seller agree to these terms without any changes just forego the lawyer? Do you pay these retainer fees?

Any advice would be much appreciated! Thanks!

-Rich