All Forum Posts by: Thomas Muttwill

Mitch, I see your point and it was not a good comparison from my end. Basically I wanted to state that any wholesale in any industry could be classified as a scam and my point was that it is not. But I totally agree that it would be, if you charge fees or not completely disclose what is done to make the transaction work for all parties involved.

The article definitely just looked at it from one angle and talking about parties, who are in it to defraud someone.

Thanks guys. My deals are structured in a way that the lender we negotiate with knows in all the documentation that we will not hold the property and this fact is fully disclosed to them. Also for teh second transaction it is fully disclosed that this transaction is subject to a previous transaction. Now with the paragraph you quoted a deal structure like this could be labeled as "equity creation" and like you guys I do not see why this would be a scam. Any wholesale would need to be considered a scam and this would apply to so many industries. Like selling on ebay and actually purchase from a drop shipper. I do not order the product until I have the order in for a higher price. Really appreciate your input.

What would you respond, if people say double closings are a scam.

Check this article: http://redtape.msnbc.com/2008/09/post.html

Maybe you can let me know what you would say to someone confronting you with that.

Thanks in advance

Hi Randy,

I was very interested in the article you mentioned in one of your posts. Could you please post a link?

Thanks,

Thomas

I second the comment about the slow load. Once the site is up navigating is pretty fast except for the listing section. Like the clean layout and design.

Spread the word on forums, create a group on Facebook and MySpace to spread the word, maybe make it into a google application, network with people in professions who could use this tool. Can this be only run on your website? If not I would maybe consider a scaled down version other people could put on their site and then backlink to you.

Wouldn't it be possible to get financing through a company structure. I know it would take some time to establish credit that way. Or maybe through an existing shelf company with an established line of credit. Does make more sense to me even with the costs involved compared to the high interest you would pay for private funding or HML.

Good to know. Thanks!

Hi Joshua,

Great point. Just in my situation it would nearly be like putting the cart before the horse. I am still learning, not sure where to start and seem to be far away from my first deal. I would definitely want to do something like that in the future. But right now my energy needs to be focused on getting started, study for RE license, work a full-time job and getting things ready for my little one (yeah - I will be a dad soon ). This list is not in any particular order. One thing I found out so far is that BP is a great resource and I am online every day.

Hi, I am from Austin and new to REI. Looking to network from with other investors and possibly find a mentor in the near future. Any comments on RENC would be really appreciated. From researching REICA it sounded the meetings might be more about pitching some high priced classes. Thanks in advance.