Comments on: Saturday Night Reader Mail http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/ Wholesaling Real Estate Blog Sat, 11 Feb 2012 16:26:30 -0700 http://wordpress.org/?v=3648 hourly 1 By: Stephani http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5605 Stephani Mon, 08 Mar 2010 16:40:35 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5605 Hi Gigi, I do simultaneous closings where I use my end buyer's money to fund both transactions. I explain exactly how I do it in this video: http://www.flipthiswholesaler.net/2009/09/simultaneous-closing/ Hope that answers your questions- and thanks for stopping by! Steph Hi Gigi,

I do simultaneous closings where I use my end buyer’s money to fund both transactions. I explain exactly how I do it in this video:
http://www.flipthiswholesaler.net/2009/09/simultaneous-closing/

Hope that answers your questions- and thanks for stopping by!

Steph

]]> By: Stephani http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5604 Stephani Mon, 08 Mar 2010 16:37:29 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5604 Hi Gigi, I don't know what the laws are in your state, but I'm guessing that you probably need to be licensed in order to sell deals for a Realtor and get compensated for it. So, your options would be to either get licensed, or to put the property under contract yourself and then assign it to an end buyer, or in the case of an REO, do a double closing. Hope that clarifies, Steph Hi Gigi,

I don’t know what the laws are in your state, but I’m guessing that you probably need to be licensed in order to sell deals for a Realtor and get compensated for it. So, your options would be to either get licensed, or to put the property under contract yourself and then assign it to an end buyer, or in the case of an REO, do a double closing.

Hope that clarifies,
Steph

]]> By: gigi http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5603 gigi Mon, 08 Mar 2010 05:23:37 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5603 how do you put reo's under contractwithout actually putting out your own cashto the bank. Won't the bank know you have a end buyer paying the funds at the end Or do you physically come out of pocket and buy the property to tie it up and then sell it to the end buyer. Or ydo you let the end buyer pay for all the total transactions both a + bplus b+ c. Won't the bank eventually know what you have done is this okay. Or do you buy it st to tie it up yet all closings are still done int the same day. Ps you ROCK and your music is Great ! GiGi By the way I lived in Fla for 25 years ! They have some of the best R.E. club meetings ever Wish I was there how do you put reo’s under contractwithout actually putting out your own cashto the bank. Won’t the bank know you have a end buyer paying the funds at the end Or do you physically come out of pocket and buy the property to tie it up and then sell it to the end buyer. Or ydo you let the end buyer pay for all the total transactions both a + bplus b+ c. Won’t the bank eventually know what you have done is this okay. Or do you buy it st to tie it up yet all closings are still done int the same day.

Ps you ROCK and your music is Great !
GiGi

By the way I lived in Fla for 25 years ! They have some of the best R.E. club meetings ever
Wish I was there

]]> By: gigi http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5602 gigi Mon, 08 Mar 2010 05:13:13 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5602 what do you give a realtor if they bring you a cash buyer for one of your contracts ? what if realtor has a house listed on Mls and askes you to help him sell it, and I find a buyer Yet the realtor still thinks its illegal for me to sell this house to anyone I'm a begginer a realtor wants my help, yet we don't know how to get around this we are in the state of texas, what are the laws. And how can I protect myself, we can't udse bandit signs in this town to market what wouls you suggest. And what type of contract should I have drawn up if I sell one of rhe listings. I want to be able to protect myself. Bythe way your website rocks... I listen to it over and over again.. But yet I I'm still confused, Its not you its totally me..I will be following you.. I have to go to sleep and go to my sucky job hrs a day less than minimum wage Please help me get started I hate my job!!! Thanks GiGi what do you give a realtor if they bring you a cash buyer for one of your contracts ?

what if realtor has a house listed on Mls and askes you to help him sell it, and I find a buyer Yet the realtor still thinks its illegal for me to sell this house to anyone I’m a begginer a realtor wants my help, yet we don’t know how to get around this we are in the state of texas, what are the laws. And how can I protect myself, we can’t udse bandit signs in this town to market what wouls you suggest. And what type of contract should I have drawn up if I sell one of rhe listings. I want to be able to protect myself. Bythe way your website rocks… I listen to it over and over again.. But yet I I’m still confused, Its not you its totally me..I will be following you.. I have to go to sleep and go to my sucky job hrs a day less than minimum wage Please help me get started I hate my job!!!

Thanks
GiGi

]]> By: JIM GOULD http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5600 JIM GOULD Sun, 07 Mar 2010 03:12:36 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5600 Thanx Steph, By the way I did not get an ALERT on my email that you answered me, will this site not do that. Thank you for the QUICK reply anyway. JIM Thanx Steph,
By the way I did not get an ALERT on my email that you answered me, will this site not do that.
Thank you for the QUICK reply anyway. JIM

]]> By: Stephani http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5598 Stephani Sat, 06 Mar 2010 14:38:53 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5598 Hi Jim, It's the same way here, and in many other markets. I have always avoided the new listings and price drops, and gone after the ones that have been sitting for awhile, have high DOM, and need a lot of work. That is where I have gotten my best deals. Steph Hi Jim,

It’s the same way here, and in many other markets.

I have always avoided the new listings and price drops, and gone after the ones that have been sitting for awhile, have high DOM, and need a lot of work. That is where I have gotten my best deals.

Steph

]]> By: JIM GOULD http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5595 JIM GOULD Sat, 06 Mar 2010 06:48:39 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5595 Hi Steph, I live in Southern Calif between San Diego and LA near Newport Beach and REOs are being sold with higher than asking prices and multiple offers in many cases. With that being said it is hard to try to wholesale (however I have not yet done one) but have you heard about this kind of situation any where else. On short sales the same thing happens. So its hard to get in the middle of these to make any $$$$. Any comments.....JIM Hi Steph,
I live in Southern Calif between San Diego and LA near Newport Beach and REOs are being sold with higher than asking prices and multiple offers in many cases. With that being said it is hard to try to wholesale (however I have not yet done one) but have you heard about this kind of situation any where else. On short sales the same thing happens. So its hard to get in the middle of these to make any $$$$. Any comments…..JIM

]]> By: Stephani http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5475 Stephani Wed, 24 Feb 2010 20:10:57 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5475 Hi Niki, I use a bank statement from a private lender as my POF. I have heard that some of the banks will not accept the letters from transactional lenders, and I think that there are probably a lot more people using them now, so maybe they are starting to catch on. If you are having luck with your letter from a HML, then I would just stick with that. Steph Hi Niki,

I use a bank statement from a private lender as my POF.

I have heard that some of the banks will not accept the letters from transactional lenders, and I think that there are probably a lot more people using them now, so maybe they are starting to catch on.

If you are having luck with your letter from a HML, then I would just stick with that.

Steph

]]> By: Niki http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5474 Niki Wed, 24 Feb 2010 19:48:31 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5474 Hey Steph- I noticed in one of your posts up there, that you said banks sometimes won't except transactional funding so you have to use financing. We have put in about 5 offers with the POF on your website and keep getting rejected. We put another in, with a HML POF letter, on one of the same houses, and actually got them to negotiate. Are you having problems with your offers that you make with your letter? BTW...it's not only this one, we have another transactional funding POF, and the same thing has happened, so I am not sure what to think! Thanks for your help...:) Hey Steph- I noticed in one of your posts up there, that you said banks sometimes won’t except transactional funding so you have to use financing. We have put in about 5 offers with the POF on your website and keep getting rejected. We put another in, with a HML POF letter, on one of the same houses, and actually got them to negotiate. Are you having problems with your offers that you make with your letter? BTW…it’s not only this one, we have another transactional funding POF, and the same thing has happened, so I am not sure what to think!

Thanks for your help…:)

]]> By: Shawn http://www.flipthiswholesaler.net/2010/02/saturday-night-reader-mail/#comment-5418 Shawn Thu, 18 Feb 2010 20:21:12 +0000 http://www.flipthiswholesaler.net/?p=5370#comment-5418 Ok Will do! Ok Will do!

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