All Forum Posts by: Scott Willoghby

We're hiring an additional 3 VA's to help with our follow-ups our clients. Currently we're using a single Skype account where the VA logs into Skype via their desktop/Mobile app - but now we're expanding, it would seem Skype may not be the best option for multiple phone accounts.

As far as I understand, we'd need to have individual Skype accounts for every VA!

Does anyone have suggestions how we may accomplish 3 phone lines for our VA's to use (mainly outbound calling)?

We're hiring an additional 3 VA's to help with our follow-ups our clients. Currently we're using a single Skype account where the VA logs into Skype via their desktop/Mobile app - but now we're expanding, it would seem Skype may not be the best option for multiple phone accounts.

As far as I understand, we'd need to have individual Skype accounts for every VA!

Does anyone have suggestions how we may accomplish 3 phone lines for our VA's to use (mainly outbound calling)?

Any other input most gratefully received!

Thanks

@Account Closed - many thanks for the detailed information, most of it I'm aware of, but I always applaud members who provide this information freely as you have, as some of the newer wholesalers will come across this post and be rewarded with your content-rich information. Many thanks

Just a couple of things Id like to mention, before I get back on track: 

Regarding the transactional funding - I hope this may be useful to you too: I've completed several double closings to date, and one of the points I make when "interviewing" a Title company, is that I need the buyer to fund the whole transaction - so "C" funds everything. To date, I've never used transactional funding, as I've never needed to and so far, have had no issues with this whatsoever. Out Title company is great, and fully aware of this, and many other wholesalers, investors and Realtors use them because of they understanding of our situation.

I was unaware about the Special Warranty Deed - I'll be checking that out with my Title Company this week. Great idea.

I'm also OK with adding clauses to the standard P&S which my Realtors will be using, but can I ask, if you have specific clauses you like to use in this situation. Yes I also pay above the going rates - how can we expect priority service when we're only paying the same as everyone else? I love to see Realtors faces when we offer $1,000 per deal.

Back to my original question:

I'm still unsure how a Realtor (who provides me with the opportunity to use a buyer I introduce to the deal flow), will allow me to take my usual $5k fee from the sale of "his" or "her" property when they may only be receiving a fraction of that as a commission (minimum $1,000).

I'd like to understand exactly how to approach the Realtor in this situation and understand how the paper trail works.

Thanks

Good morning,

I've been wholesaling for several months and have so far been working using the more "conventional" methods - marketing for motivated sellers, negotiating with the seller, and then assigning the P&S agreement to my cash buyer/investor.

Recently I considered using a Realtor who had a number of cash buyers on his list, however the transaction didn't come to fruition and I once again sold to an investor.

I'd like to clarify the situation regarding contracts and my "fee" when working with Realtors, so that I'm better prepared for when this situation arises again.

I'd like to ask:

• Is a "Licensed Realtor" required - in all situations - to use the state P&S contract (Florida)?)
• If a Realtor shows an interest in selling a property (which I already have under contract) to one of their cash buyers, will I be required to have my seller re-sign the Realtors (State) contract?
• Is there a method by which I can still use my own contract in conjunction with the "State" contract & a Realtor?
• Should I always choose to double close on these type of transactions?
• Reverse strategy: If the Realtor finds the property, how do I make my usual "fee" by introducing my own cash buyer (as I understand the legislation, I'm not permitted legally, to ask for a "commission", but does that include a "marketing fee" or "consultation fee")?

I'm presuming in the above "Reverse strategy" situation, a Realtor will not be happy seeing my "fee" (whatever it's called) for several thousand dollars? How do I work around this?

Any clarification or correction of the above would be most gratefully received.

Thanks

Hi,

I tried posting in the Tax & financial forums, but had no response, so I'd like to try here:

I'm intending to set up an LLC early next year, and start wholesaling remotely in 2, maybe 3 states during 2016.

This is how I'll be working:-

• I find the leads.
• I pass these leads on to a JV partner in that state (wholesaler)
• He/She finds the cash buyer and assigns/double closes using a local Title Company
• My wholesaler receives the assignment fee.
• I invoice my wholesaler for 50% of this fee.

My question is:- Given that I'm only "invoicing" the wholesaler, do I need to register my LLC in any state other than the one where my LLC has been formed?

Thanks

Is this the correct forum to be asking this question?

Thanks

Scott

Hi,

I'm intending to set up an LLC early next year, and start wholesaling remotely in 2, maybe 3 states during 2016.

This is how I'll be working:-

• I find the leads.
• I pass these leads on to a JV partner in that state (wholesaler)
• He/She finds the cash buyer and assigns/double closes using a local Title Company
• My wholesaler receives the assignment fee.
• I invoice my wholesaler for 50% of this fee.

My question is:- Given that I'm only "invoicing" the wholesaler, do I need to register my LLC in any state other than the one where my LLC has been formed?

Thanks

Thankyou !

HI Sharad,

Those fee's seem very reasonable, may I ask what the cost of filing a tax return for the LLC each year is . . . let's say (unlikely) I don't use the LLC, what fee's would need to be paid & who to (CPA, IRS etc) ?

Scott