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All Forum Posts by: Darren McAfee

Darren McAfee has started 1 posts and replied 18 times.

Post: Need advice on selling first wholesale deal. HELP

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

First off, is this an area where your list of investors are looking to buy?
If this deal is as good as it looks, you shouldn't have any problem finding a buyer with a list of that size. Network with locals on this site as well. But, if I were you, I'd look for the first investor/buyer that can put up good earnest money and close quickly. As far as partnering with other wholesalers, that could also be an option, just make sure that both of you (wholesalers) have a solid agreement to ensure both of you get paid. Good luck, and can't wait to here how the deal pans out.

Post: A True Wholesaler: what's your definition?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

Ok,so tons of us are looking to make a little coin with REI. So before I get out there and go "gung-ho" making offers and signing contracts, I'd like to know what the "real deal" investors/rehabbers look for when choosing to work with a wholesaler.
Thanks, Darren

Post: Contracts For Ohio

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

I see that nobody had answered you post, so here goes.

I wouldn't use "someone elses" contract, simply because each deal is unique. But maybe this will help. Contact Title Plus Services. This is an investor friendly title company in the cleveland/fairview park area. Let them know what you plan on doing, how you want to do it, and ask for their advice. Also, it's better to have actual attorney's draft your contracts. Hope that helps. Title Plus Services.

Post: Do I have to have and/or assign in order for the contract to be assignable???

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

If the contract DOSEN'T prevent assigning, but already has an assignment clause, then you don't need add and/or assigns. However, I know of a guy who simply writes in his own assignment clause or simply uses his own addendum which has an assignment clause. Just my thoughts.

Post: Best Wholesale book?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

This is an older publication (2006) but it is spot on for wholesalers in the very market. It's "Flipping Properties: 2nd Edition" by William (Bill) Bronchick and Robert Dahlstrom. I've read it upwards of 6 times front to back. Trust me, it wasn't written yesterday, but it is truly spot on with example contracts, letters, faxes and marketing examples.

Post: Preforclosure strategy? Or is this not working "smart"?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

Great info Scott. I would think that the lis pendens would be the most cost effective way of locating pre-foreclosures. Didn't know that about assumable loans, though.

Post: Investor Friendly Title Companies in Dallas/Fort Worth?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

Thanks for the heads-up Jerry. Susie it is!

Post: Anybody With A List Of Real Estate Lawyers In NY?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

I got your pm. Check your inbox.

Post: how many should be on your buyers list before start wholesaling?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

In my opinion, there is NO definite number of buyers one should have. I must say, it seems more wise to have at least ONE (1) buyers in the club house waiting. It's so much easier to wholesale knowing what a person wants to buy before hand. Some say you need hundreds, some say find the deals first. Personally, I say find one and only one in the beginning. As your business progresses, buyers will flock to you because of word of mouth. So, don't worry about having a certain number of buyers. Just focus on one for now. After all, you don't want a portfolio of fish burgers when your local investors are all looking for chicken sandwiches,right?! Find one buyer for now. Focus on his/her wants and let the rest come to you.

One is all you need. But get the buyer on your team initially. This will make the scouting, etc. much easier.

Post: How does my plan of action sound?

Darren McAfeePosted
  • Wholesaler
  • Hattiesburg, MS
  • Posts 21
  • Votes 0

I think ANY plan is a good plan. Speeking conservatively, of course. Most people spend so much time planning every minute detail that they actually forget make offers. Your plan isn't perfect, but whos is nowadays. Do your research, let em hang and make some offers. It's great to hear that someone is actually "jumping in" instead of just looking. Good luck!