OfflineHello,
My partner and I do short sales for distressed homeowners who are behind on payments and have a true hardship. That is our specialty.
We have wholesaled also but not a lot. My question is how do I wholesale several properties? I have been contacted by a wholesaler and he just wants to sell his inventory. He has given me a list of homes that he wants me to find buyers for and he will pay me a fee for doing this.500.00 dollars a piece for each home. He has 57 in Missouri and that is where I live. 24 in Tenn. I asked him for an agreement before I started finding buyers for him. He has not sent anything. Do I need something in writing from him before I can legally market his properties? Can anyone give me advice on how to do this properly and get paid?
Thank you.
Donna
Donna
good question
I WOULD SUGGEST YOU AND HIM MAKE AN AGREEMENT IN BLACK AND WHITE EVEN IF HE DRAWS UP THE CONTRACT AND YOU MAKE WHATEVER ADJUSTMENTS IN IT, AS FOR THE PROPERTY BEFORE YOU MARKET IT AS A PACKAGE MAKE SURE THAT YOU GUYS ARE ON THE SAME PAGE FOR PAYMENT AND CONTRACT AND THEN TRY TO FIND INVESTORS WHO MAY BE INTERESTED IN THE PACKAGE. I HAVE A REAL GOOD FRIEND WHO BOUGHT ABOUT 10 PROPERTIES OUT THERE IN ST LOUIS MISSOURI. I CAN FIND OUT IF HE WANT ANYMORE OUT THERE OR I CAN INQUIRE ABOUT THE AGENT WHO HELP HIM FIND HIS PROPERTIES AND SHE MAY BE ABLE TO ASSIT YOU AS WELL, BUT I AM IN THIS GAME FOR THE LOVE OF IT AS WELL TO GET PAID SO IF I WAS TO DO THIS FOR YOU ME AND YOU WILL HAVE TO COME TO ANGREEMENT AS WELL, CAUSE THIS INVOLVES ME NOW ONCE I START TO CONNECT ALL MY DOTS.
DO YOU DO SHORT SALES OUTSIDE OF MISSOURI LIKE IN THE NYC AREA, PREFERABLY BROOKLYN OR QUEENS. LOOKING FOR SHORT SALES IN THOSE AREAS.I AM VERY INTERESTED IN PURCHASING PROPERTIES IN MISSOURI BUT THAT IS GOING TO COME IN TIME BUT ITS A CERTAIN
I would call the other investor up and make a contract. You need to have a copy with both of your signatures on it and the other person the same. This way you have a legal binding thing and he cannot screw you. If he does then you can take him to court for breech of contract. I think that what he is giving you is a wonderful thing and I would really be on top of your game with this one. You have the potential to make some money with this offer. Good luck and let me know how it turns out!
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Hi Donna,
You can enter into a partnership with him and this should lead you into a partner contract. Set the terms and go for it. Best wishes
Bryan
B Smith