All Forum Posts by: Ryan Blackstone

@Jonathan Greene ah I see your issue is with it "not going through the brokerage." When I mention a permission to show and a pocket listing, those are going through the brokerage, and are agent activities. That essentially is like "wholesaling," but isn't wholesaling. 

However, I will say that wholesaling is not an agent activity; just like flipping a home isn't a agent activity. Although, there are plenty of bad characters out there who act like they are investors and have no intent to buy, and don't disclose if they are even capable. I do believe there is a place for wholesaling and it seems like your thoughts are that there are no ways for wholesaling at all. That is simply not true. I think I am trying to make a case that 

1. There are alternative way to essentially do the same thing as a wholesaler, but you are licensed. Yes it would go through the brokerage.

 2. There is a time and place for wholesaling and it does help out the public. (Even if it is small).

@Peter Tverdov and @Jonathan Greene. Although I agree that most wholesaling out there is sketchy. It is an option for some people, and it is what they prefer. I think if we define wholesaling as "getting a property under contract and selling it to someone else before it goes 'on the market,'" then that would include any 'permission to show' or 'pocket listing' that an agent would do. Yes, it isn't a contract to purchase, but it is essentially the same. My team and I want to always be above reproach, and we will only do what is the best interest of our clients and the public.We have also done several of these "off market" deals in the state of Arkansas.

Let me give an example of serving the public well, and they wanted "selling off market" as being the best option. A single mother of a adult kid with a disability, and a full time nurse, wanted to buy another house. However, she needed to sell her house first. She had so much shame of the condition of her house that she did not want to list it. I had communicated that she could get way more if she let me list it, and I gave her all the options including me paying to get it fixed up for her and selling it. She choose to take a cash offer from me with a delayed occupancy for 2 months to give her time to move out. I didn't rip equity from her, more than she chose that option out of convenience. Now, I did close on that, but if I found an end buyer to do the same deal, it would still be the best option for her and what she wanted. 

Where a broker or investor fails is in two things: 1. Disclosure, 2. intent. 

Disclosure: In all of our deals we want to give all the data with all of the options. Sure we will then give them our recommendation, but often times that is not the option they want. For example, they will choose convenience over equity. With my team, we give them the ARV, Market Value, and our cash offer. We always strive to get them to list it, and yet that isn't always the choice the seller chooses.

Intent: If you can't buy the property and really don't know its a good deal, then yes, you shouldn't be wrapping it up under contract. However, I have a good buddy you wrapped up a storage unit facility, and they would have closed on it, but the bank turned them down (March 2020: covid). However, they knew a big player in the area that would buy it in cash. So, they wholesaled the deal to them. It was a win-win-win deal. 

It all depends on the seller and their needs and I truly feel like offering more options than just going on the market gives a seller more options.

I have hard money lenders, and will email you the list. 

I wrote a great article on this somewhere in the forums, but I cant find it at the moment. An agent can use an "exclusive listing agreement" with an option to sell it off market as a "pocket listing." This is where you would be representing the seller and more than likely the buyer as well. Or you can do a "permission to show" to represent you investors, and still collect a commission. It is the most legal way to be a "wholesaler." 

Thanks Billy! and @Kevin Harmon Welcome! DM me your email and I will add you to our email list to our meetups. 

Join us for our monthly investors meeting on March 13, 2024!

Go ahead and mark your calendars for this event, and remember that we will continue to meet on the 2nd Wednesday of each month moving forward. Come learn, share, and network with other local investors in a fun and relaxed environment!

STR Market has definitely slowed down. However, one great strategy I have seen is getting a mid term rental for the slow season, and then going back to STR during the hot season. It also really depends on the actual product. You need to make your stay unique. If its far from everything, then you need to make it an oasis. If its a cookie cutter, then add some kind of "activity" like ping pong, board games, bikes, something to make it stand out.

And like Jeff said, you could find a mentor there. 

Hey John. 

My team and I facilitate a local meet up here. Real estate as an agent or investor is hard work, and a lot of him is a mental battle more than anything. Choosing the right action, and being consistent with it. 67% of our business is helping investors, and 6 out of 8 of my agents are investors themselves. 

Every second Wednesday of the month, we have a meetup that meets from 6pm-8pm. There myself and other investors/agents helps answer any questions that any investor might have about the market or real estate. You could come there and I am sure one of us will be able to answer the questions. 

I will email you our list