Most will "withdraw" the listing which doesn’t eliminate a commission earned if the seller sells you the property.That doesn’t mean that you cannot buy the house, it just means that the Broker has a right to collect a commission assuming they used an Exclusive Authorization and Right to Sell from the seller.There are basically 3 types of listing agreements two of which give the seller the ability to sell themselves without obligation to pay a commission...

Scamers are very efficient, and they practice the "funnel theory" - they send out feelers to millions of people and hope to draw 1 in 100 into the funnel.

With that multitude of assumptions you are looking at rents of 1.06% of the purchase price, collecting $100,000 a month in rent, and netting $100.If you work backwards from the rent, assume the same loan terms as above, assume 100% financing, assume you want to net $100/month, and assume expenses = 50% of rent, then a property that rents for $500 cannot exceed $23,731.

Doesn't seem practical.

but in La it's easy to get more than 20% b/c of all the damage thanks to katrina. the sellers here are stubborn though..i know a $5k or 7k deal has been done here and there(i'm still working on my first) but, and i don't care what anyone says, wholesaling is easy in theory but difficult in practice..any Louisiana wholesalers on here wanna back me up on that?

So, zboy, if you want to collect that 50-60K ... sell now!

I have been told…That it is a good practice to give everyone you have gave over $600 a 1099.

I'm not sure if I'd want to move in 2 years and collect the profit.

My name is Jahmaiah Israel, I'm a new wholesaler with my fiance/business partner, we eventually want to branch out into rentals & rehabs. we learned how to wholesale from the millionaire mindset collection, I thought it was an excellent program, but i'm getting a wealth more of valuable information from this site.

Hello,Im Michael House, licensed CA agent but stoped practicing about 6 months ago.