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Hi Jharris, I am a loan officer.. broker fees as Ezloanz
has explained can vary in fees.. I do agree with 4.5% being excessive
however keep in mind real estate agents are making anywhere between 3 - 6 percentage points.. and in my opinion do a lot less work..

I say this because everyone wants to haggle a broker fees..
but very few individuals challenge the realtor fees..
on purchase transactions that is another area you can be saving money..
as Ezloans mentioned if their is no broker involved you better belive the lender is still making a direct cut off the yeild..

keep in mind they are getting rates directly from the federal reserve
at rates lower then par! again no one ever questions them..
just fyi..

A good broker is valuable over any 1 lender.. because we have access
to hundreds of lender with different programs more suitable to a scenario.. it takes time and work that is well worth what we get paid..

Ryan, thanks for clearing that up.. what you have said lines up with what I have researched and what other seasoned investors have said..

on that note, I am looking for some title companies in Atlanta Ga area that allow Double assignments and regular assignments. Ryan please check with your sources and let me know.. I have my 1st deal on the table.. buyer is signing purchase agreements tommorow, and having agreements will seller signed shortly after..

Second question ryan.. since My buyer is dealing with a conventional lender
they probably won't accept a regular assignment. I was told that you could either structure the deal thru a land trust or do a double closing, which do you suggest is the better route.. and if you suggest the land trust, how is the trust actually set up..or structured for the assignement

Dc group thats a great question to inquire about, and one that we all as investors will soon find out.. I encourage everyone to read and invest in as much real estate knowledge as you can..especially free real estate knowledge. Donald Trump and Robert Kiyosaki have a new book out which they are bo co-authoring..

as I stated above, becoming successful means learning from successful people, their ups and their downs.. not everyone realized or even achieves their full potential. the people on the top are their for a reason..because they made certain sacrifices, and failures, and did not give up.. failure is the beggining to success.. if you don't learn, you don't earn! the trick is getting up and learning from the failures.. its all part of growth and process. Most of you guys are arleady millionaires.. its only a matter of time :superman:

Hello Cmacone, thanks for the warm welcome

Wesley :D :groovy:

Christi your post is one of the most informative on what to look out for when birdogging, and wholesaling.. I didn't quite know the difference between the 2.. now I am totally clear on it..

question for you.. as a wholesaler who has signed the purchase contract, what are the best escape clauses to use in the event the end buyer's financing does not come thru or other title issues may come up?

welcome to the board ophri, Ryan is correct, I am in the Atlanta area, if your interested in networking Let me know.. these guys are great, your in the right place..

Hello, all i have been surfing and post in the forums all week, not even realizing the new member section.. I have had a chance to converse or gain insightful information with some great people in that time.. thanks ryan webber, eric medem

My Name is Caesar I am Mortgage Loan officer/broker in the Atlanta, Ga area specialising in funding conventional and subprime investor loans
these loans are more geared to leveraging high profit yields from rental income..

needless to say I was sparked by whay my client(investors were accomplishing in real estate) and I am here..

Hello Biggerpro(site admin) everyone else, I joined a few days ago, didn't even notice the new member section.. I want to say this is one of the best real estate sites I have been too.. and the members are nothing short of fantastic.. You guys have given me more information in a week, then I have gotten in a lifetime.
keep up the good work.. admin you have my support! now I will make my formal intro..

Caesar
Atlanta wholesale Investor
and Mortgage Loan officer

Hello Millhouse, I don't know what market/city your in..
I am a wholesale investor in the Atlanta Market, I have access to about 50 deals a month, deals ranging from minor fixer uppers with less then 5k in rehabs, some even have no rehab cost! to major compelte rehab projects, equity spreads range from 20k to 100k+ let me know if your interested in the Atlanta market, we can do some deals..ir your interested email me at [email protected]

As for the contract, you can use the buyers agreement below, the seller or wholesaler will give you a contract similar to the one below or if you have it then you can supply it to the seller

http://www.totalrealestatesolutions.com/realestateforms/html/BuyersPurchaseAgreement.html