✅Download the “How To Wholesale In 15 Hours Per Week” Resource: www.realestateskills.com/time?el=htwre15h The goal is this resource helps you learn how to wholesale even with a full-time job in just 15 hrs/week! How'd you enjoy the video? Let me know below!
BOOM! The whole point of this video was to start stirring up ideas on how you can fit wholesaling into your schedule no matter your occupation. Super glad this sparked an idea for you :) In case you haven't grabbed it yet, here's our free resource that goes along with this video: www.realestateskills.com/time?el=htwre15h ^This can help stir up some additional ideas on how to make it happen! Cheers & Happy Wholesaling!
haha! There we go! Man, all that efficiency & time saved really pays off in the long run. I didn't mention it in the video, but I get the overwhelming majority of my meals delivered every single week. It eliminates the need to think about what you're going to eat, eliminates prep, and eliminates cleaning dishes. This one life hack saves me countless hours every week! Highly recommend! Shoot us a Subscribe if you found the video valuable. We'll be coming out with more content in this format soon! Cheers & Happy Wholesaling!
Hey there! Your comment means a lot! I appreciate you taking the time and working on the skills needed to get to the next level. Wishing you nothing, but the best! P.S. Definitely Subscribe to our channel if you haven't yet :) We'll be coming out with more content just like this very soon ;)
Glad you enjoyed the video! Appreciate your comment! If you need help creating more time in your schedule for wholesaling, be sure to grab the free resource that goes along with the video here: www.realestateskills.com/time?el=htwre15h Cheers & Happy Wholesaling! 🏠
Hey! Super glad you enjoyed this one on wholesaling! Here's the resource that goes along with the video in case you haven't been able to download it yet: “How To Wholesale In 15 Hours Per Week” Resource: www.realestateskills.com/time?el=htwre15h Definitely hit SUBSCRIBE if you want to be notified when our next video like this comes out. Much more to come! Cheers & Happy Wholesaling! 🏠
@@PolitikPolitik-fh2qc why would I want to bring on another agent? Is that just for people that don't know how to handle the paperwork?as I can easily fill out contracts
@REIwAlexY well a referral still cuts in the original listing agent. As for if you have full confidence in doing real estate contracts addendum and meeting contigency then there is no reason. I gave advice assuming a beginning watching this. If you aren't a beginner then there's no reason after the referral.
@@PolitikPolitik-fh2qc gotcha! Appreciate the insight man. I've closed a few on market deals and 1 off but need to work on making consistent process rather than shot here and there
Great responses in here already! Still ask the agent to represent you. Sometimes they come up with the solution themselves, such as having a friend represent you as your buyer's agent from another brokerage, someone within their own brokerage, or possible even have their broker represent you! If they don't come up with the solution themselves, then ask them if they have a friend or referral that would like to represent you. Typically, the listing says how much they are offering to Buyer's Agents, such as 2-3%, on the MLS Listing Sheet. I don't even get into talking about percentages. There's no point to talk about percentages with the agent at this time in the conversation. As of right now, the Seller pays commissions so no need to talk about percentages. We just offer the opportunity to represent us to invoke reciprocity and to ensure a smooth conversation. Keep crushing it! Wishing you nothing but the best! P.S. We'll keep covering videos on these topics, so be sure to Subscribe because we'll go in-depth on this in the future!
Great video thanks, when you are running comps to determine ARV for wholesale offer......does the year of the home-built matter from the ARV comps compared with wholesale subject property? I understand sq footage, bed/bath, are taken into account....but what about the year of the home? 1955 compared with 2002, as an example? Thanks!!
Hi There! Great question! Yes, the year built does matter when running comps for ARV. Homes from different eras (e.g., 1955 vs. 2002) can have varying construction materials, systems, and buyer appeal, affecting value. While square footage and bed/bath count are key, try to compare homes built within 5-10 years of your subject property. If not possible, adjust for differences in value due to age. Hope this helps!💙
If we use the listing agent to write the contract for a submitted offer, do we need to use our personal Purchase and Sale agreement? Do we need to ensure an inspection clause in the agent contract?
Hi Anthony, Great question! If you’re using the listing agent to write the offer, you’ll likely be using the standard agent-provided Purchase and Sale Agreement. However, it’s always a good idea to review the contract and ensure it meets your needs, especially if you’re wholesaling. As for the inspection clause, absolutely-make sure it’s included to protect your interests and allow room for due diligence. Hope this helps!🏡
How do you talk to a cash buyer once you have the deal. What if they all try to freeze you out to cut you out of it and pick it up immediately? What is required to use an inspection contigency? Do you have to have an inspection? Do you have to give specific reasons?
Solid questions. First off, we always encourage you to know who your Cash Buyers are before ever finding deals. This way, you can find the exact deals they want and increase your likelihood of closing the deal. This allows you to at least have the start of a mutually beneficial relationship with them before ever finding a deal for them. This one action of finding and talking to your cash buyers first can potentially eliminate any cash buyers trying to cut you out (at least this has been the case for us). If a Cash Buyer tries to go around you, or "freeze" you out, then this is why we find multiple cash buyers first. We just work with another cash buyer instead and we NEVER EVER again work with the cash buyer who tried to go around us. Sophisticated Cash Buyers know the opportunity cost when they go around a pro wholesaler. Such as, missing out on 1-3 deals a month for their business for the rest of their business career. That opportunity cost can be in the millions. A big price to pay to try and save $10k-$20k on one deal. Backing out due the inspection of the property is required to use the inspection contingency. Essentially, there has to be something wrong with the property that you didn't see the first time around, or didn't anticipate for. We generally do not get an actual home inspector out there. Anyone can provide an inspection, including yourself. We always give specific reasons due to the inspection since that is why we're backing out. Cheer & Happy Wholesaling!
I've offered 80% on a distressed property and actually got the deal accepted. $150k ARV $230k. I cant find the end buyer once I email them out to buyers. Im not sure if they're trying to Daisey chain my deals or I they're not actually end buyers. Any suggestions? Should i wait until it's locked up and google sell my house in the county that the subject property is? I need help. I started listening to you in june and applied what i learned but I am doing something wrong.
Congrats on getting your offer accepted! It sounds like you're doing a lot right, but let's refine your approach to finding end buyers. To avoid daisy chaining and ensure you're working with genuine cash buyers, ask for proof of funds and verify their buying history. Focus on building a robust cash buyers list by networking at local meetups, using bandit signs, connecting with investor-friendly agents, and leveraging social media groups. Additionally, consider reaching out directly to verified buyers through phone calls or texts rather than relying solely on emails. If you're still struggling to find buyers, expand your search using platforms like Craigslist, Google (Google Ninja Trick), or Facebook Marketplace. Ensure your property is locked up under contract to maintain control and prevent daisy chaining. With these tweaks to your strategy and persistent effort, you'll improve your chances of closing deals successfully! Hope this helps! Cheers 💙
For an on market property, you'll have the listing agent or a buyers agent write up the contract for you. You'll need to work with a real estate agent to get an offer (aka a written contract) submitted to the agent in a professional manner! Here's our free training that goes into how to wholesale with real estate agents & shows case studies, as well: realestateskills.com/training?el=htwre15h Definitely check it out if you want to keep pursuing wholesaling on market properties! Cheers & Happy Wholesaling! 🏠
Hi Dr. Sully! When negotiating for a distressed property, it’s not just about lowering the offer price. Here’s a quick approach: Build Rapport: Start by asking questions and showing genuine interest in the property. Highlight Issues: Point out repairs or problems that justify a lower price. Provide Comps: Reference comparable properties sold at lower prices to support your offer. Make a Strong Offer: Present a confident offer that factors in repairs and current market value. Leverage Your Strengths: If you’re a cash buyer or can close quickly, use that to negotiate a discount. It’s all about giving reasons for the discount while showing you're a serious buyer! Hope this helps!💙
Hi Chris, Great question! Yes, it's generally best to be upfront with agents about your intent to wholesale the property. Many agents are familiar with the wholesaling process and work with investors regularly. Being transparent builds trust and ensures the agent understands your business model from the start. Plus, this transparency helps avoid any misunderstandings as you move through the transaction. Hope this helps! 💙
Hey James, We assign non-assignable contracts all the time. If the contract is non-assignable, then we have all parties sign an assignment addendum. By all parties, I mean the seller, the new buyer, and us. This creates a change the original contract and now makes it assignable. For example, this is what we've done for every wholesale deal in California. Getting all parties to sign & agree to the assignment is really the only way to assign the the contract if the contract is originally non-assignable. If you still want to wholesale the property without assigning it, you could double close on it. You could also do an LLC assignment. However, both of these strategies take additional paperwork and have additional fees associated with them. If you want to grab examples of our contracts, then just go here: www.realestateskills.com/contracts?el=htwre15h Cheers & Happy Wholesaling! P.S. If you find value from our vids & comments, please hit Subscribe here: ruclips.net/user/realestateskills This way you'll be notified when our next vids come out! ;)
Hi there! Great question! Here are some ways to find a mentor in Dallas: Attend Local REI Meetups: Platforms like Meetup.com and local REIA chapters host real estate networking events. Real Estate Conferences & Events: Join real estate conferences in Dallas to network with experienced investors. Strategic Networking: Go to events like Dallas REIA or DFW Real Estate Investors and connect with seasoned pros. Join Online Communities: Use Facebook, LinkedIn, and BiggerPockets to find Dallas-based groups where investors are open to mentoring. Volunteer for Investors: Offer your help on projects to gain hands-on experience and build connections with potential mentors. Hope this helps!💙
Hey there! New York City can be challenging because the city can be very dense with not a lot of houses (i.e. downtown with office buildings, condominiums, and apartments). Then, in more rural parts of New York, it can be too rural with not enough properties. If you are going to wholesale in New York, make sure it's a densely populated area with houses. Additionally, you could start virtual wholesaling real estate. So, you could be located in New York City, but you could virtually wholesale houses in any state you'd like. We just released a video today on Virtual Wholesaling that you can check out here: ruclips.net/video/AxgFrYoLlYo/видео.htmlsi=--aB5ipPPwIg6Qaj Cheers & Happy Wholesaling! 🏠
Hey there, in what context exactly? As long as you're 18 years old, you can get started wholesaling! Here's a link to our free training on the topic of how to get started wholesaling without spending $1 on marketing: realestateskills.com/training?el=htwre15h Also, be sure to Subscribe to our channel so you can keep getting educated. But, most importantly, take action with the knowledge you gain. That's what will bring results. Cheers & Happy Wholesaling! 🏠
@@RealEstateSkills as a college student, I am already financially supporting my education. I know you guys offer a very good deal for further learning in wholesaling, and I would love to do that one day when I have the money, but for now I would love to learn as much as I can as a college student to maybe start some things up. My goal is to get one deal and invest it right back into one of your programs.
Way to support yourself! Time to make your first deal happen, you got this! Be sure to follow along & update us once you get that first wholesale deal! Cheers!
At about 25 minutes you mentioned asking a realtor if they would be willing to represent you in making deals, that's called dual agency correct? My state does not allow dual agency, is there any way around that?
Hey there! Thanks for checking out the vid! In most states, Dual Agency is legal as long as the agent discloses the dual agency in writing to both sides of the transaction. In a few states, such as Texas and Florida, Dual Agency is not legal in the same way as it is everywhere else. An agent can represent both sides, however, not in the same capacity as when they have a fiduciary duty to both the buyer and seller. If you're working in one of those states, it is important to understand the difference between an Agency relationship and an Intermediary or Transactional relationship. In Florida, instead of acting as a Dual Agent, the agent may act as a Transaction Broker. In this case, they can legally facilitate both sides of the transaction and earn both sides of the commission. However, there is no fiduciary duty to either buyer or seller. Sellers may be willing to relieve the listing agent of their fiduciary responsibility if the agent has procured an attractive offer from a buyer that they are representing. In Texas, this role by the agent is called an Intermediary. The key difference is that the fiduciary duty owed to the client by the real estate agent is no longer applicable to either party. Regardless, we recommend still asking the listing agent to represent you as your buyer's agent. This will offer the commission to the Listing Agent and then they may be able to provide a suggestion on how to best go about it. For example, they may request that their relationship now becomes one of an Intermediary or Transactional Broker, or they could refer an agent to be your buyer's agent and still receive compensation through the form of a referral fee! Keep moving forward! If you're interested in learning more about specific states and their laws and regulations on wholesaling, then you can check out our free state-by-state guides here: www.realestateskills.com/howtowholesale?el=htwre15h Cheers & Happy Wholesaling! 🏠🏠👍
Hi Harry! Wholesaling real estate is less common in Australia compared to the U.S., which is why you might not find as much content. Real estate laws differ by country, and in Australia, stricter regulations around contracts and assignments make traditional wholesaling more challenging. However, similar strategies, like "property options" and "joint ventures," are often used. Hope this helps! 💙
![How To Wholesale Real Estate Step by Step [WITH $0]!](http://i.ytimg.com/vi/J8jtA7f8vYE/mqdefault.jpg)
✅Download the “How To Wholesale In 15 Hours Per Week” Resource: www.realestateskills.com/time?el=htwre15h
The goal is this resource helps you learn how to wholesale even with a full-time job in just 15 hrs/week!
How'd you enjoy the video? Let me know below!
I work 3 12s as a nurse but this video has given me an idea 💡 on how to break down my schedule
BOOM! The whole point of this video was to start stirring up ideas on how you can fit wholesaling into your schedule no matter your occupation. Super glad this sparked an idea for you :)
In case you haven't grabbed it yet, here's our free resource that goes along with this video: www.realestateskills.com/time?el=htwre15h
^This can help stir up some additional ideas on how to make it happen!
Cheers & Happy Wholesaling!
I work 4, 12s as a nurse, how do you find time? I really want this!
Hey Cheryl - here's our resource for creating more time in case you don't have it yet: www.realestateskills.com/time?el=htwre15h
You got this!
I work 5 12s. I was very invested in finding a way to create or redirect my attention
Love this.. also changed gyms from 20mins away to 5mins away lol
haha! There we go! Man, all that efficiency & time saved really pays off in the long run.
I didn't mention it in the video, but I get the overwhelming majority of my meals delivered every single week. It eliminates the need to think about what you're going to eat, eliminates prep, and eliminates cleaning dishes. This one life hack saves me countless hours every week! Highly recommend!
Shoot us a Subscribe if you found the video valuable. We'll be coming out with more content in this format soon!
Cheers & Happy Wholesaling!
Your videos are so resourceful and helpful. I really appreciate the information you put out and the sincerity you have for helping people.
Hey there! Your comment means a lot! I appreciate you taking the time and working on the skills needed to get to the next level.
Wishing you nothing, but the best!
P.S. Definitely Subscribe to our channel if you haven't yet :) We'll be coming out with more content just like this very soon ;)
23:40 Great video thank you
29:30 Agent writes the contract
Glad you enjoyed the video! Appreciate your comment!
If you need help creating more time in your schedule for wholesaling, be sure to grab the free resource that goes along with the video here: www.realestateskills.com/time?el=htwre15h
Cheers & Happy Wholesaling! 🏠
I enjoyed this episode.
Hey! Super glad you enjoyed this one on wholesaling! Here's the resource that goes along with the video in case you haven't been able to download it yet: “How To Wholesale In 15 Hours Per Week” Resource: www.realestateskills.com/time?el=htwre15h
Definitely hit SUBSCRIBE if you want to be notified when our next video like this comes out. Much more to come!
Cheers & Happy Wholesaling! 🏠
what if you live in a non-dual agency state like FL? do you still offer the agent more than their typical 3% seller side commission?
You Ask for a referral if they can and they still get a piece. Worst case if that's not allowed then you find a local investor friendly agent.
@@PolitikPolitik-fh2qc why would I want to bring on another agent? Is that just for people that don't know how to handle the paperwork?as I can easily fill out contracts
@REIwAlexY well a referral still cuts in the original listing agent. As for if you have full confidence in doing real estate contracts addendum and meeting contigency then there is no reason. I gave advice assuming a beginning watching this. If you aren't a beginner then there's no reason after the referral.
@@PolitikPolitik-fh2qc gotcha! Appreciate the insight man. I've closed a few on market deals and 1 off but need to work on making consistent process rather than shot here and there
Great responses in here already! Still ask the agent to represent you. Sometimes they come up with the solution themselves, such as having a friend represent you as your buyer's agent from another brokerage, someone within their own brokerage, or possible even have their broker represent you! If they don't come up with the solution themselves, then ask them if they have a friend or referral that would like to represent you.
Typically, the listing says how much they are offering to Buyer's Agents, such as 2-3%, on the MLS Listing Sheet. I don't even get into talking about percentages. There's no point to talk about percentages with the agent at this time in the conversation. As of right now, the Seller pays commissions so no need to talk about percentages. We just offer the opportunity to represent us to invoke reciprocity and to ensure a smooth conversation.
Keep crushing it! Wishing you nothing but the best!
P.S. We'll keep covering videos on these topics, so be sure to Subscribe because we'll go in-depth on this in the future!
Great video thanks, when you are running comps to determine ARV for wholesale offer......does the year of the home-built matter from the ARV comps compared with wholesale subject property? I understand sq footage, bed/bath, are taken into account....but what about the year of the home? 1955 compared with 2002, as an example? Thanks!!
Hi There!
Great question! Yes, the year built does matter when running comps for ARV. Homes from different eras (e.g., 1955 vs. 2002) can have varying construction materials, systems, and buyer appeal, affecting value.
While square footage and bed/bath count are key, try to compare homes built within 5-10 years of your subject property. If not possible, adjust for differences in value due to age.
Hope this helps!💙
If we use the listing agent to write the contract for a submitted offer, do we need to use our personal Purchase and Sale agreement? Do we need to ensure an inspection clause in the agent contract?
Hi Anthony,
Great question! If you’re using the listing agent to write the offer, you’ll likely be using the standard agent-provided Purchase and Sale Agreement. However, it’s always a good idea to review the contract and ensure it meets your needs, especially if you’re wholesaling. As for the inspection clause, absolutely-make sure it’s included to protect your interests and allow room for due diligence.
Hope this helps!🏡
How do you talk to a cash buyer once you have the deal. What if they all try to freeze you out to cut you out of it and pick it up immediately? What is required to use an inspection contigency? Do you have to have an inspection? Do you have to give specific reasons?
Solid questions.
First off, we always encourage you to know who your Cash Buyers are before ever finding deals. This way, you can find the exact deals they want and increase your likelihood of closing the deal. This allows you to at least have the start of a mutually beneficial relationship with them before ever finding a deal for them. This one action of finding and talking to your cash buyers first can potentially eliminate any cash buyers trying to cut you out (at least this has been the case for us).
If a Cash Buyer tries to go around you, or "freeze" you out, then this is why we find multiple cash buyers first. We just work with another cash buyer instead and we NEVER EVER again work with the cash buyer who tried to go around us.
Sophisticated Cash Buyers know the opportunity cost when they go around a pro wholesaler. Such as, missing out on 1-3 deals a month for their business for the rest of their business career. That opportunity cost can be in the millions. A big price to pay to try and save $10k-$20k on one deal.
Backing out due the inspection of the property is required to use the inspection contingency. Essentially, there has to be something wrong with the property that you didn't see the first time around, or didn't anticipate for.
We generally do not get an actual home inspector out there. Anyone can provide an inspection, including yourself.
We always give specific reasons due to the inspection since that is why we're backing out.
Cheer & Happy Wholesaling!
@@RealEstateSkills thanks for the solid response
Anytime!
I've offered 80% on a distressed property and actually got the deal accepted. $150k ARV $230k. I cant find the end buyer once I email them out to buyers. Im not sure if they're trying to Daisey chain my deals or I they're not actually end buyers. Any suggestions? Should i wait until it's locked up and google sell my house in the county that the subject property is? I need help. I started listening to you in june and applied what i learned but I am doing something wrong.
Thanks for the realistic comment, I’m curious to see what OP will respond with. How much longer do you have it under contract?
Congrats on getting your offer accepted! It sounds like you're doing a lot right, but let's refine your approach to finding end buyers. To avoid daisy chaining and ensure you're working with genuine cash buyers, ask for proof of funds and verify their buying history. Focus on building a robust cash buyers list by networking at local meetups, using bandit signs, connecting with investor-friendly agents, and leveraging social media groups. Additionally, consider reaching out directly to verified buyers through phone calls or texts rather than relying solely on emails.
If you're still struggling to find buyers, expand your search using platforms like Craigslist, Google (Google Ninja Trick), or Facebook Marketplace. Ensure your property is locked up under contract to maintain control and prevent daisy chaining. With these tweaks to your strategy and persistent effort, you'll improve your chances of closing deals successfully!
Hope this helps! Cheers 💙
How do you submit an offer or deal with the listing agent?
For an on market property, you'll have the listing agent or a buyers agent write up the contract for you. You'll need to work with a real estate agent to get an offer (aka a written contract) submitted to the agent in a professional manner!
Here's our free training that goes into how to wholesale with real estate agents & shows case studies, as well: realestateskills.com/training?el=htwre15h
Definitely check it out if you want to keep pursuing wholesaling on market properties!
Cheers & Happy Wholesaling! 🏠
How do you go about getting a distressed house discounted when you make the call to the agent about it? Do you just negotiate the offer price?
Hi Dr. Sully!
When negotiating for a distressed property, it’s not just about lowering the offer price. Here’s a quick approach:
Build Rapport: Start by asking questions and showing genuine interest in the property.
Highlight Issues: Point out repairs or problems that justify a lower price.
Provide Comps: Reference comparable properties sold at lower prices to support your offer.
Make a Strong Offer: Present a confident offer that factors in repairs and current market value.
Leverage Your Strengths: If you’re a cash buyer or can close quickly, use that to negotiate a discount.
It’s all about giving reasons for the discount while showing you're a serious buyer!
Hope this helps!💙
so do u tell the agent ur wholesalin the property
Hi Chris,
Great question! Yes, it's generally best to be upfront with agents about your intent to wholesale the property. Many agents are familiar with the wholesaling process and work with investors regularly. Being transparent builds trust and ensures the agent understands your business model from the start. Plus, this transparency helps avoid any misunderstandings as you move through the transaction.
Hope this helps! 💙
How can you wholesale/assign a deal to a cash buyer if the realtor writes up the contract for you isn’t their contract non assignable ?
Hey James,
We assign non-assignable contracts all the time. If the contract is non-assignable, then we have all parties sign an assignment addendum. By all parties, I mean the seller, the new buyer, and us. This creates a change the original contract and now makes it assignable. For example, this is what we've done for every wholesale deal in California.
Getting all parties to sign & agree to the assignment is really the only way to assign the the contract if the contract is originally non-assignable.
If you still want to wholesale the property without assigning it, you could double close on it. You could also do an LLC assignment. However, both of these strategies take additional paperwork and have additional fees associated with them.
If you want to grab examples of our contracts, then just go here: www.realestateskills.com/contracts?el=htwre15h
Cheers & Happy Wholesaling!
P.S. If you find value from our vids & comments, please hit Subscribe here: ruclips.net/user/realestateskills This way you'll be notified when our next vids come out! ;)
Do you have any ways on how to find a mentor for beginners in the dallas texas area ‼️ plz
Hi there!
Great question! Here are some ways to find a mentor in Dallas:
Attend Local REI Meetups: Platforms like Meetup.com and local REIA chapters host real estate networking events.
Real Estate Conferences & Events: Join real estate conferences in Dallas to network with experienced investors.
Strategic Networking: Go to events like Dallas REIA or DFW Real Estate Investors and connect with seasoned pros.
Join Online Communities: Use Facebook, LinkedIn, and BiggerPockets to find Dallas-based groups where investors are open to mentoring.
Volunteer for Investors: Offer your help on projects to gain hands-on experience and build connections with potential mentors.
Hope this helps!💙
I live in New York City. Is wholesaling real estate even practical?
Hey there! New York City can be challenging because the city can be very dense with not a lot of houses (i.e. downtown with office buildings, condominiums, and apartments). Then, in more rural parts of New York, it can be too rural with not enough properties. If you are going to wholesale in New York, make sure it's a densely populated area with houses.
Additionally, you could start virtual wholesaling real estate. So, you could be located in New York City, but you could virtually wholesale houses in any state you'd like.
We just released a video today on Virtual Wholesaling that you can check out here: ruclips.net/video/AxgFrYoLlYo/видео.htmlsi=--aB5ipPPwIg6Qaj
Cheers & Happy Wholesaling! 🏠
Can you discuss opportunities for college students
Hey there, in what context exactly?
As long as you're 18 years old, you can get started wholesaling!
Here's a link to our free training on the topic of how to get started wholesaling without spending $1 on marketing: realestateskills.com/training?el=htwre15h
Also, be sure to Subscribe to our channel so you can keep getting educated. But, most importantly, take action with the knowledge you gain. That's what will bring results.
Cheers & Happy Wholesaling! 🏠
@@RealEstateSkills as a college student, I am already financially supporting my education. I know you guys offer a very good deal for further learning in wholesaling, and I would love to do that one day when I have the money, but for now I would love to learn as much as I can as a college student to maybe start some things up. My goal is to get one deal and invest it right back into one of your programs.
Way to support yourself! Time to make your first deal happen, you got this! Be sure to follow along & update us once you get that first wholesale deal! Cheers!
At about 25 minutes you mentioned asking a realtor if they would be willing to represent you in making deals, that's called dual agency correct? My state does not allow dual agency, is there any way around that?
Hey there! Thanks for checking out the vid!
In most states, Dual Agency is legal as long as the agent discloses the dual agency in writing to both sides of the transaction.
In a few states, such as Texas and Florida, Dual Agency is not legal in the same way as it is everywhere else. An agent can represent both sides, however, not in the same capacity as when they have a fiduciary duty to both the buyer and seller.
If you're working in one of those states, it is important to understand the difference between an Agency relationship and an Intermediary or Transactional relationship.
In Florida, instead of acting as a Dual Agent, the agent may act as a Transaction Broker. In this case, they can legally facilitate both sides of the transaction and earn both sides of the commission. However, there is no fiduciary duty to either buyer or seller. Sellers may be willing to relieve the listing agent of their fiduciary responsibility if the agent has procured an attractive offer from a buyer that they are representing.
In Texas, this role by the agent is called an Intermediary. The key difference is that the fiduciary duty owed to the client by the real estate agent is no longer applicable to either party.
Regardless, we recommend still asking the listing agent to represent you as your buyer's agent. This will offer the commission to the Listing Agent and then they may be able to provide a suggestion on how to best go about it. For example, they may request that their relationship now becomes one of an Intermediary or Transactional Broker, or they could refer an agent to be your buyer's agent and still receive compensation through the form of a referral fee!
Keep moving forward!
If you're interested in learning more about specific states and their laws and regulations on wholesaling, then you can check out our free state-by-state guides here: www.realestateskills.com/howtowholesale?el=htwre15h
Cheers & Happy Wholesaling! 🏠🏠👍
Why cant i find wholesale content in Australia? Its it not common here?
Hi Harry!
Wholesaling real estate is less common in Australia compared to the U.S., which is why you might not find as much content. Real estate laws differ by country, and in Australia, stricter regulations around contracts and assignments make traditional wholesaling more challenging. However, similar strategies, like "property options" and "joint ventures," are often used.
Hope this helps! 💙
❤🔥❤🔥❤🔥
Appreciate the love, Cathleen! Wishing you nothing, but success!