Comments on: Flip This REO! is here!

By: Stephani

Stephani — Thu, 15 Oct 2009 02:43:47 +0000

Hi Lui,

I don’t have any experience with that particular product, so I can’t give it a thumbs up or thumbs down.

Try Googling it- you should be able to dig up some info/reviews.

Good luck,
Steph

By: lui

lui — Wed, 14 Oct 2009 21:11:17 +0000

Hi Steph,

Just wanted to get your thoughts on a website a friend of mine suggested I try out called Reogolminer.net/intro . Too good to be true?
I’ve got your ebook and it’s great, thanks!

By: Stephani

Stephani — Mon, 12 Oct 2009 14:30:41 +0000

You have to study your market and figure out what a good deal is. Once you do that, you will know how much to offer.

By: Juanita

Juanita — Mon, 12 Oct 2009 03:52:37 +0000

Hi Steph,
Congradulations on your success! I have been trying to do this wholesaling thing for about a year and get my first deal. I plan to purchase your ebook in about a week from now. I am interested to know how much do you know, how much to offer on an REO property?

Thank you!
Juanita

By: Stephani

Stephani — Tue, 06 Oct 2009 20:30:22 +0000

Hi Alyse,

Glad you liked the book!

The wholesale fee will depend on the deal, but usually ranges from 2-10k.

I’m not licensed, so I’m not sure how it will work with your broker- I would run it by him/her and see how they want to handle it. I don’t see why there would be a conflict of interest- you are just purchasing a property and then re-selling it.. The majority of the REO wholesalers in my area are licensed, and they have no problems.

As far as the contract goes- the bank will have a specific contract you need to use to submit offers (in FL it’s the FAR As-Is). I use the same one to sell, but add the clauses that I mentioned in the book.

I always recommend having a local atty draw up your contracts for you just to be sure you have everything in them that you need to protect yourself.

Steph

By: Alyse

Alyse — Tue, 06 Oct 2009 20:06:34 +0000

Hi Steph, got your e-book, great job! I’ve basically dog-eared every page for reference

Couple of questions. I’m a licensed realtor with a large agency. You say you generally give both sides of the commission to the REO listing agent. Sounds good, but I will obviously have to give my broker a percentage, plus the MLS fee.

What’s the basic difference between the wholesale fee and the commission? Would there be a conflict of interest with my agency for any reason?

Do you have sample contracts available online?

Thanks!

By: Jeff Logue

Jeff Logue — Fri, 02 Oct 2009 17:52:16 +0000

I think you’re on to something big here, and it should provide plenty of new wholesalers with quality information for only $47! You are very gracious. From my own hometown experience, a lot of investors are not taking advantage of this particular niche. This is the perfect time to release this invaluable information. Congratulations to you. Your hard work will certainly pay off.

By: Wholesaling REOs | Flip This Wholesaler

Wholesaling REOs | Flip This Wholesaler — Wed, 30 Sep 2009 17:24:21 +0000

[...] I kind of fell off the face of the Earth over the last few months- locked away in my condo working on the new blog, and then the eBook. [...]

By: Stephani

Stephani — Sun, 27 Sep 2009 23:27:13 +0000

Hi Alex,

Glad to see you are ready to take action!

I don’t have any experience with pre-foreclosures/short sales- just REOs. Bigger Pockets has a great short sale forum- you can post any of your qs over there and get input from experienced short salers. Here’s the link:
http://www.biggerpockets.com/forums/103-short-sales

Take care and thanks for stopping by,
Steph

By: Shae

Shae — Sun, 27 Sep 2009 22:50:31 +0000

LOL! Alex, that’s messed up…”the butt crack of the USA”….LOL! Anyway, glad to hear you have the book (its great, isn’t it?). Happy wholesaling!
.-= Shae´s last blog ..All you need to know about wholesaling REOs =-.