All Forum Posts by: Wesly Peterson

Thanks everybody, really good insight shared here.

Excellent, I was hoping to build my reputation on transparency. I was more or less just curious if, in an industry like this, it was feasible to prosper as a wholesaler using this method.

Hi friends,

When making contact with a seller, is it a better strategy to allow them to think I am the investor or is being upfront about what I do as a wholesaler the better route?

Thank you Steven for the response.

Is Earnest Money a part of the purchase price, or is it additional money? Additionally, is it ok for me to write in my contract that Earnest Money is the responsibility of the Assignee?

If my assignment fees are paid in cash at the time of assignment, how and where do I report these earnings on my taxes?

Thank you for the insight, that makes a lot of sense

Hey all,

What percentage of the seller's asking price is mutually fair for me and my buyers? I mulled over using a flat fee (which in hindsight will get me no where) at first, but what percentage of asking price or other factors do the rest of you use for calculating an assignment fee?

Hi everybody, my name is Wesly Peterson and I'm a 23 year old wholesaling beginner in the Los Angeles area. The real estate industry became an interest of mine after reading the book The One Minute Millionaire and me making a decision that I have the drive, professionalism, and sales abilities to thrive in this lucrative trade. I'm always looking for investors and fellow wholesalers in the Los Angeles County/Orange County/Inland Empire to collaborate and network with and look forward to many enriching conversations and experiences with all of you!

What are the big differences/obstacles of wholesaling a foreclosed home vs. one that a private owner still has power over? I mean in terms of dealing with a bank (I'm assuming) vs. dealing with a homeowner? Is the process still fundamentally the same or is there a drastically different approach?