All Forum Posts by: Shakia Morrison

@Carmen Lewis I think the PSA with the buyer is only if you're doing a double close....not for assigning. In a double close, you become the seller for a moment after the initial transaction is complete, so you own the property and the buyer is purchasing it from you. Thanks for replying. I agree with the bit about them cutting you out but how can you avoid it? If for instance, I schedule a meetup to see the property between the other wholesaler and the buyer. Anything can happen. 

The JV contract was a blanket covering all their properties which are over 70 properties so I need to get this in order. Please and thank you!

I have found a couple of people interested in JVing and this will be my first deal. I already understand that I am not putting in any work to find a buyer before the JV contracts are signed both ways and at this point have already begun searching for buyers. I have also learned to protect my deal by verifying buyer info before giving out the full address of the property. I have a few buyers contacting me and have let me know they must send me their info before I can send them the property info. My confusion comes in at two points. The first is whether or not I discuss all the details with the buyer or do I send over the buyer's info to the company and let them work out the deal. The second point is in which (assuming I've worked out the details with the buyer) a buyer agrees to move forward. Am I supposed to be signing a contract with the buyer and sending the contract over or sending the buyers info to the company that I have the JV contract with so they can get the contract signed or what?

Thanks so much @Lydia R. and @James Green. This is great info.

Thanks @Aaron K.

What is your take on having a buyers list? I am told that it is an illegal method to build a list before you have a contract but am confused because if you begin to build a list after your first contract, would you not continue to network with the same buyers. I know you will and am wondering in that case....having those buyers before your second deal, what makes it illegal. I plan on wholesaling but I do want to invest in commercial rental property as I am able and I want to be righteous in all my dealings from the start of my career. Can someone explain this further?

Any veterans willing to exchange contact info and help me through the wholesaling process a few times. I need to make this work and am getting conflicting advice.

Thanks for the advice @Caleb Heimsoth

Thanks again @Joe Villeneuve. I have recently purchased investors training and my mentor teaches the same method you speak of but have had a lot of time online with conflicting strategies from different people and was just trying to get out there and make something happen. I appreciate getting a glimpse of reality here and can't thank you guys enough.

Thanks Charles. I am trying to break into real estate as a complete beginner to the industry and am attempting to get started with wholesale deals because of the lack of purchase funds. I am still working on building my credit and was advised to offer 50% of the asking price to weed out motivated sellers. what are your thought on this strategy?