OfflineAlright DG Fam!
I had a great meeting with a RE Agent today and I think I found a winner. Talk to quite a few and this one seems like the money shot! She already sent me properties within the hour after I left. Now, she did mention the transactions are done through RE attorneys and not Title Companies in GA. She stated she deals with a particular attorney. She is not aware that I will be wholesaling properties. Ok, so here's my question....
If and when I get a property under contract through the MLS, get it accepted by the end buyer, the attorney has to have both contracts right? Now, the agent would learn what I'm doing this and realize I am working with no money down. So do I just go to that attorney myself with the end buyer contract? Won't they notify the agent of what I've done? Do you all get what I'm saying about this? I hope... Good grief...
Bernard
You will personally take either the Assignment Contract or the 2nd PA (for double close) to the atty. The agent does not have to be notified. It is really of no concern to her as long as the house gets sold and she gets her commission. All of the money is the same color, no matter who gives it to her.
Karen
"You're never too old to be what you were meant to be!"
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"Shining Like a Star & Dancing on Sunshine"
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Bernard I would not worry about that stuff like Karen says it doesnt matter who winds up closing on the hm as long as it closes, so building our buyers list crucial, to make sure the props close.
The reason we dont tell the agents we are wholesaling is because it is a relatively new concept & they might not understand it & it may scare them off, remember what people aren't down with they are down on.
So a lot of fix n flippers & buy n holders wholesale props now too, so it is not a big deal really. The agents/attorney etc. only care if the prop closes really. I know your new & have a ton of questions tho.
Tony
Go faster do more! GFDM!
Some states are attorney states that do closings & others like Ca are title/escrow states.
Tony
Go faster do more! GFDM!
Hey Bernard,
be transparent (honest) with your agent. Wholesaling can make her a lot of money too.
Somebody has got to do the closing, if your agent knows a good closing attorney why not let him do it, they are used to working together, which may help make the whole transaction go smooth.
Don't forget, you and your agent are on the same team, might as well make it a winning team.
Have at it.
Thomas
I simply tell every agent I work with that I may not close on every property, I have some partners that would close on my deals. Then after you get a couple of deals wholesaled and your agent made some nice cash, then you can tell them exactly what your doing. You don't have to tell them, its all up to you.t
Reynold Orozco
BERNARD great question because at times if your new at this like I am these questions may come up in one's mind and I am glad my fellow dgers answered so that you, I or any other reading this post can move confidently forward,
JOEL
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
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Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
and the reason you that you would say, if needed to, that you don't close all the properties yourself is that sometimes you have already closed other deals and your money is tied up but that you work with other investors who are ready and willing to take extra properties off your hands because they know you find good deals.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
not with and agent, but with FSBO's!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.