Q : I see it on the MLS and it’s Pending Sale, Active Sale, at a higher or lower price? What is proper Wholesale Etiquette?
A: We have a binding contract to buy the property. We already used the MLS to secure the deal.
Even if you make an offer to the realtor, the seller has no legal right to sell you the property anymore.
They have already contracted with us for a set price. We are in the business of buying and selling property. We will first try to wholesale it for a small mark up. If not, we will rent it or fix and flip it.
Please, don’t call the realtor and try to go around us! Don’t call the realtor and interfere in my deal and be like “this guy is advertising it for sale, trying to flip it.” Please have manners. The point is, they can not sell it to you anymore. So don’t bother them and in turn create problems for me and my deal. I will sell you the property if you want to buy it. Just Ask! It’s what I do. Thanks for your cooperation!
Q : Do You Pay Commission? Work with Buyers Agents? How do I Get Paid??
A: As you know, we’ve done hundreds of deals with agents totaling more than 50 million in sales since 2011. Yes, you can get paid a “Commission”, but you need to think about it in different terms than a seller paying you a percentage of the sale price. You are in the “Wholesale World”, not the traditional listing world. Here is what you need to know about getting paid:
1. Add on top! I’ve seen people add more than $20,000 on top of my price.
Try to Add on Top. Control Your Destiny. We realize it’s not always possible.
2. Make your offer, request your designated rate of compensation.
The closer to asking price, the better! We are wholesalers. We deal with profit margins, which are not large. In some cases, we all split the profit. In other cases, we pay a little, you add a little, and so on. We realize everyone needs to get paid and with us, everyone does!
The real key is not to worry about getting paid! Get your buyer, go see the property, and make me an offer. I will make you a deal!
Q: Are your Deals OFF MARKET or on MLS?
A: Some are OFF MARKET / OFF MLS, some are not. We mainly focus on OFF MLS / OFF MARKET, but we do control and offer For Sale ON MLS deals as well! Please Refer to the first question at the top to understand why a deal on the MLS is on our list and who to call and what to do.
If you are looking at our advertisements and it does NOT say “OFF MLS / OFF MARKET” above the property, it still could be OFF MLS / OFF MARKET. We sell Distressed FSBO, Auction Houses, Investor Deals, Probates, and many more OFF MARKET DEALS!
If you are looking for OFF MARKET deals, we are going to be one of your best sources!
Q: HOW DO I MAKE AN OFFER??
A: First off, to really get a grasp on how we do business and answer a lot of your follow up questions, please check out the “HOW IT WORKS” tab. To answer your question briefly: If you want to make an offer, do not write a contract. Call, Text, or Email me the offer amount and commission requested, if any. If your offer is approved, we will send you the contract. We always write the contracts. Please do not send written offers. All offers should be made AFTER viewing the property. If you want to buy it blind, that is okay too! Just let us know you are waiving your inspection and the offer is “AS IS” and in the amount of $_________________.
Q: What should I say, or NOT say, when I go to an appointment to see a property??
NO talk about price.
NO talk about sale.
NO talk about when people are moving out.
NO talk about why seller is selling.
NO exchanging business cards with sellers/wholesalers.
NO, you can not say you have the property under contract.
NO, you can not say you are buying the property.
NO, you can not say, “Richard the Wholesaler sent you“.
Please follow instructions we give you for that deal.
YES, you can look at the house and snoop around.
YES, asking questions about when things were remodeled.
YES, asking questions about if permits were pulled or not.
YES, asking if things work or not.
YES, doing an Inspection by a licensed inspector.
YES, saying you are doing repair estimates.
YES, saying you are doing a BPO.
YES, acting like you are NOT the buyer, but doing an inspection.
Q: Do you do Joint Venture Agreements?
A: YES, after you sell the property to your buyers and they sign a contract, wire a deposit and we have a real deal, we will issue you a Joint Venture agreement wherein your fee will be disclosed and signed off on by all parties. This fee will be negotiated at the time you negotiate the purchase price of your buyer. Please refer to the “How Do I Get Paid” Question above for more information on getting paid.
Q: Can I get an inspection Period?
A: Generally speaking, no.
Yes, you can come see the property. Yes, you can look around, get on the roof, and inspect fully.
No, we will not sign a 4 day or more day inspection period contract. Typically, all our deals are sold with zero inspection contingency at the “time of contract”. The deposit is expected to be made with the offer or right after. But sometimes, there is some wiggle room. Sometimes, we allow 1 to 3 day inspections on our smaller deals.
Commercial/Large Apartments: These are more traditional and yes, in 90% of cases, we do offer inspection periods at the time of the contract. You negotiate your deal.
Q: Should I Negotiate a Deal, Ask for Contract, Say I am ready to Buy, Sign the Contract or not, and THEN NOT PERFORM:
A. Go see the property.
B. Then send my contractor to see the property.
C. Then call my client.
D. Then speak to my wife.
E. Tell you I want 5 to 10 days inspection.
F. Never send deposit.
Answer of above
Please read the “How it Works” Tab to learn the proper procedure and etiquette.
Lately, too often, realtors and buyers have been calling me up saying to “send them a contract” (after spending ALL day) negotiating the price and terms, after them telling me they are ready to go, zero inspection and have seen it. Then, after the buyer or agent gets the contract, I get a Text or Email like:
What’s the Lock Box? I want to go see it!
My contractor went to see it and it needs more work than I thought. Then backs out.
My client went to see it and didn’t like it or the area.
My wife or partner said XY or Z. Then backs out.
Can I have a big inspection period?
Or the deposit never shows up.
Please do me, my clients, and yourself a favor, and do not behave in the manner(s) described above. It hurts my reputation with my suppliers, puts you to the bottom of the list next time you call, and if you do it more than one time, you will be black balled from doing business with us. This business is hard enough! We wont be dealing with games and stunts from tire kickers.
We take our reputation and the reputation of our sources very seriously!
We expect courtesy and professionalism from our clients.
We are very easy to work with, so long as you follow the rules and act like a professional.
Please read the “Q&A” and “How It Works” section, so we can start off on the right foot and do business successfully!
Q: Can I go Knock on the door and just talk to tenants and owner?
Q: Can I get a Loan?
YES = Cash ONLY – Private Money – Hard Money.
NO = Bank Loans. No FHA, No VA, No Conventional.
Q: Do you have a License to Sell Real Estate ?