🔥Your new real estate career starts with Real Estate Skills! Book a call with my team to join our program and community, APPLY HERE: www.realestateskills.com/apply?el=htwafhw0app ➡Learn More About The PRO WHOLESALER VIP Program: realestateskills.com/pro-wholesaler?el=htwafhw0 ➡Learn More About The ULTIMATE INVESTOR Program: realestateskills.com/ultimate-investor?el=htwafhw0

@CM-er2bx

2 ай бұрын

I have an opportunity to get a great deal under contract but I need a proof of funds if I send in proof of funds without actual backing from a lender or bank like you've shown in another video can I get into any legal issues doing that?

@RealEstateSkills

2 ай бұрын

The proof of funds you can acquire from the companies here are legitimate: kzread.info/dash/bejne/hHuYrI-bodiyZag.html They provide transactional lending if the deal checks out. Nothing illegitimate about that. If you have a legit proof of funds, then there's no issue with that. You can also acquire a proof of funds from other Hard Money Lenders or Cash Buyers if you'd like.

@CM-er2bx

2 ай бұрын

@@RealEstateSkills ok perfect just wanted to make sure these where legit lenders. thanks for replying back so quickly thank you for your knowledge man.

@RealEstateSkills

2 ай бұрын

@@CM-er2bx You got it! We recommend giving them a call and learning more about the companies. The more knowledge you have, the better.

First I got the email and clicked instantly I’m at my 9-5 too lol

@RealEstateSkills

2 ай бұрын

BOOM! Gotta watch when you can! I respect it! Cheers!

thank you so much for this!

@RealEstateSkills

7 күн бұрын

You're very welcome! Be sure to check out my additional free training here: realestateskills.com/training?el=htfhsbs You'll see everything we do in practice, as well as, case studies! Happy Wholesaling! 🏠 P.S. Be sure to subscribe if you want to see more content like this!

Keep going and motivating us as students ✅

@RealEstateSkills

2 ай бұрын

Love your comment! We'll never stop!!! Cheers & Happy Wholesaling!

This is awesome

@RealEstateSkills

2 ай бұрын

We're happy to help, @sharonceaser-wheeler3364! 🚀 Cheers! 🏠

Very knowledgeable

@RealEstateSkills

2 ай бұрын

We're glad you learned something from the video, @user-de2uy7py1y! 💙 Cheers! 🏠

Good video😀 Quick question, do you feel it’s more difficult to find a buyer with an on market deal?

This is a genuis order. Ill be testing this theory tomorrow

@RealEstateSkills

Ай бұрын

We're glad to hear you agree, @GloriaAllen-fu6es! Keep us updated on your progress. 🙂 Cheers! 🏠

@CollinAnderson-th3hw

Ай бұрын

How did it go!?!

@RealEstateSkills

21 күн бұрын

@CollinAnderson-th3hw Take what you've learned and go try it! You got this!

Is it necessary for me to go and see or do a showing with a real estate agent when I’m wholesaling or do I just make an offer on the 2nd phone calls? Do I necessarily have to see the property physically since I’m the wholesaler not the buyer or who sees the property, and goes for the showing the wholesaler or the cash buyer Because some real estate agents, ask you to come and see the property

@RealEstateSkills

23 күн бұрын

@deliveranceotuitatoyo447 You don't necessarily have to go see the properties yourself. Your cash buyer is going to want to walk the property typically and they will usually bring their team of contractors to assess the status of the property. Sometimes you may have to go look at the property and that's why we recommend starting locally. Cheers! 🏠

What's your solution if the state contract has an non-assignable clause in the contract? That's standard in Virginia Beach.

@RealEstateSkills

2 ай бұрын

Hey! We're not attorneys and this isn't legal advice. Here's what we would do, though: Multiple solutions: 1) Use an assignment of agreement addendum to now make the original contract assignable. This is what we do in California - our contracts also have a "non-assignable" clause when working with realtors. It requires the seller, the new buyer, and you to all sign this addendum. Once this is signed the original contract is now assignable. Not a roadblock, whatsoever. Business as usual. Or, 2) You can cross out the clause before signing the contract & have both you and the seller initial crossing it out. You can also then put "and/or assigns" next to your contract to make its assignable nature more apparent. We don't typically do this, but just another strategy. Or, 3) You can also just double close on the property if you want to avoid having to assign it. There are a few ways we'd go about it! Cheers & Happy Wholesaling P.S. Shoot us a Subscribe if you haven't yet ;) We'll be having more awesome content coming out soon!

Extremely educational. Thanks so much for sharing. People like you make the world a better place.

@RealEstateSkills

2 ай бұрын

Glad you enjoyed it & found it helpful! Nothing fires us up more than helping others to provide for themselves & their families through real estate! Wishing you nothing but the best on your wholesale real estate journey! Cheers & Happy Wholesaling! P.S. Here's a link to our free wholesaling & flipping training if you want to go even more in-depth & see some case studies: www.realestateskills.com/training?el=htwafhw0 P.P.S. Please shoot us a SUBSCRIBE when you get the chance! We'll be coming out with more content each week :)

What happens if you do put down the earnest money deposit and then assigned the contract? Do you just raise your wholesale fee by the earnest money amount?

@RealEstateSkills

7 күн бұрын

Yep, that's exactly what we do! Great thinking. Additionally, if this is a new cash buyer that we don't have a strong relationship with then we'll also agree to a non-refundable deposit at assignment that covers the EMD amount.

You mentioned that your cash buyer provided you with their bank statement as proof of funds. Is that a common practice? It seems like most cash buyers would not want to do that.

@RealEstateSkills

7 күн бұрын

Yep. This is simple to acquire if you're a professional wholesaler dealing with professional cash buyers. My viewpoint is the opposite. I know most professional cash buyers would want to do so. If you could bring a cash buyer 2 wholesale deals a month that they can make $40k profit on per house flip, and you work with them because they are assisting you with a proof of funds. Then, that decision of theirs to assist with the proof of funds just generated them $960,000 of profit across a 12 month span if you bring them 2 deals a month (2 deals a month x 12 months x $40,000 of profit per flip for them). Make sense? This is why we like to be professional wholesalers & work with professional cash buyers. There are a lot of amateur wholesalers and fix & flippers out there that can't look past one deal. We've always had a longer time horizon and work with those who have a long time horizon, as well. If you want to see what this looks like in practice & see more case studies, then you can check out my free training here: realestateskills.com/training?el=htfhsbs Happy Wholesaling! 🏠

37:45 lmao

@RealEstateSkills

8 күн бұрын

😂🚀

Hello, what if there's a really mixed amount of comps, for example, some going from 70,000 to 170,000. How do we find the average for the ARV through that?

@RealEstateSkills

16 күн бұрын

Hello, @allurisubs3994! If you look at step 3 of this video you will have a much better understanding of how to analyze properties and find the best comps. Here is a link to that video: kzread.info/dash/bejne/Z5tpksOof8fFZM4.html Cheers! 🏠

@allurisubs3994

14 күн бұрын

@@RealEstateSkills I watched that part but I'm still a bit confused on how to assess the ARV in real life. Your example is good for the hypothetical, but its kind of difficult to apply it to real properties. Whenever Ive tried to find comps around the property I'm looking at, there sometimes seems to be quite a variety. Maybe you can show us an example one day of you finding the ARV from real property.

I’m a wholesaler here in the Florida market if anyone wants to network

@RealEstateSkills

Ай бұрын

@GSyes-no9iq Florida is a great state to be wholesaling in! If you want to learn how to find deals to wholesale while spending $0 on marketing, check out our free training here: ➡️ www.realestateskills.com/training?el=htwafhw0 We have a great community that you can JV with and help you get your deals closed! 🙂 Cheers! 🏠

Question. What if the agent insists on using their preferred title company, one that doesn't know anything about assignments or double closing?

@RealEstateSkills

2 ай бұрын

Great question, @brandonvintila2696! Assignment of contract is pretty standard in real estate contracts and we have never come across a title/escrow company that was unable to help us. The same goes for double closing. Cheers! 🏠

How do you double close when you use a realtor to find deals?

@RealEstateSkills

16 күн бұрын

@EmpressFee1 Great question! This is where you complete the purchase from the original seller (A-to-B first transaction), handle the closing costs and paperwork, and then immediately sell to your end buyer (B-to-C final transaction). This process involves a lot of coordination and is often best handled with the help of a knowledgeable title company. We actually made an article that will teach you all about double closing. 🙂 Here is a link: www.realestateskills.com/blog/double-closing Cheers! 🏠

Hey Brotha I’m also from San Diego doing wholesaling virtually Do you have any in person meet up groups?

@RealEstateSkills

8 күн бұрын

@Usernameinvalid9888 We don't currently have a local meetup or an in person group. However, we do have a great online community within our program where you can be apart of bi-weekly coaching calls and our Skool community to get all of your wholesaling questions answered! 🚀 If you're interested in getting ahold of our team directly, here is a link so you can speak with us directly and get your questions answered: www.realestateskills.com/apply?el=htwafhw0app We look forward to hearing from you soon! 🙂

Hey I am 16 and was wondering about how I would go about some of these steps especially in step 6 and I was hoping you could reach out to me? thankyou

@RealEstateSkills

Ай бұрын

@TrentonBlair-cw1el What would you like to know? 🙂

@TrentonBlair-cw1el

Ай бұрын

I would like to know being only 16 going on 17 how I would show proof of funds for such a large amount as well as what I would need to do to get a contract signed since I can't sign it myself. I have many more questions. I have set an appointment for a phone call with realestate skills in hope of answering many of this and starting my course.

@TrentonBlair-cw1el

Ай бұрын

I have also contacted an attorney recently to know my local laws I'm just waiting for a reply

@RealEstateSkills

Ай бұрын

You will learn a bunch on that call with our team! Yes you do need to be 18 in order to sign contracts. You can partner with your parents and have them sign for you, but now it is best to just educate yourself as much as possible with the process of wholesaling in your area. Cheers! 🏠

I was considering/looking into working with apparently a big named real estate investing company. I'm not sure if the company still exists but during when I was meeting with the people at that company at a meeting there was mention about needing to get an LLC (needing an LLC for you or your real estate investing business? - not sure which one needs an LLC or if there is a need for a specific LLC to be set up in each state of the United States for you or your real estate business in each United States state you do real estate investing in). Can someone let me know if there is a need for a specific LLC to be set up in each United States state for you or your real estate business in each United States state you do real estate investing in? Also if any known any credible, reputable source of information for what I am looking to find out regarding the need or the possible need for a or the LLC in each United States state?

@RealEstateSkills

2 күн бұрын

Hello, @NicholasPeters1! We definitely recommend that you start an LLC for your real estate investing company. We use Prime Corporate Services to form the LLC usually and you can schedule a call with them to ask any questions you have. Here is a link to book your call with them: primepartner.info/resbt Cheers! 🏠

Can this be done from AUS -

@RealEstateSkills

Ай бұрын

Yes it can, @TheOnlyException92! What we teach is for the USA market, but I'm sure many of the same principles will be useful for you. I would learn your local laws and regulations before you get started. Cheers! 🏠

If agent represents you on buyer side. Who pay realtor commission?

@RealEstateSkills

Ай бұрын

@philw9787 Historically the seller has been responsible for both agent commissions, but with recent changes that take effect July 2024, The seller will only be responsible for the listing agent's commission. The reality is this has always been up for negotiation and likely will remain that way. Typically as a wholesaler you're not responsible to pay agent commissions. Cheers! 🏠

Can I use my name To contact relesate agents for propertys and proof of funds as my name ? Im only 16 years old But Once I’ve Got down the contract I can have my parents sign it off Or Will I have to use my dads name For everything ?

@RealEstateSkills

2 ай бұрын

Great question, @JayoTheGen! You must be 18 in order to sign any contract. You can partner up with your parents and educate them on the process. That way you can do the legwork and have them sign the contracts. You are starting so early so just make sure you familiarize yourself with your local laws and regulations before you move forward with wholesaling! Cheers! 🏠

@Resellindustryco

2 ай бұрын

One more question What % Am I Suppose to offer to the realtors So I can make money off the house ?

@RealEstateSkills

Ай бұрын

Typically as the wholesaler you don't pay the agents commission. The seller and buyer negotiate who pays what before the time of closing.

Just curious if I missed it or not but do you talk about covering closing costs and agent commission?

@RealEstateSkills

2 ай бұрын

Hey Caleb, When wholesaling real estate on market & with real estate agents, the agents commissions are usually paid by the actual seller of the property. As a general rule, closing costs are typically split 50/50 between the buyer and seller. :)

@mariedoyle3808

Ай бұрын

So who would pay the wholesaling fee to the whole seller if the selling agent is representing the buyers side as well?

@RealEstateSkills

Ай бұрын

Your cash buyer pays your wholesale fee!

Would you lose the buyers trust when they find out you raised the purchase price from 170k to 180k

@RealEstateSkills

12 күн бұрын

@MrIsrael_ Not at all! Savvy investors understand what you're doing and also account for it. As long as the deal makes them money and fits their buying criteria, it shouldn't matter what your wholesale fee is.

Idk how this is Just 500 views

@RealEstateSkills

2 ай бұрын

You're an OG! You were here first 😎 Now it's over 800! ha sure hope you enjoyed it! Definitely subscribe if it resonated with you. We'll be coming out with more content on all things wholesaling, fixing & flipping, and even buying rental properties - all things we've been working on for over a decade. Don't want you to miss :) Happy Wholesaling!

Thanks man We want you to know , You are Highly Appreciated. Do you have instagram or something that we can ask personal questions concerning this topics?

@RealEstateSkills

2 ай бұрын

Hey! We appreciate the love! Our instagram is here: instagram.com/realestateskills/ - we'll definitely try to get to your question on there. Also, we don't mind answering questions in the comments too when appropriate. You can also check out our free training on wholesaling & flipping here, which covers different topics than the video above! Here's the link: www.realestateskills.com/training?el=htwafhw0app Looking forward to getting connected! Cheers & Happy Wholesaling!