We’ve never met but I truly love you . You aren’t arrogant like a lot of these so called gurus. You give VERY VERY good information. I love your transparency . This is the BEST wholesale channel on RUclips . Thank you ❤️
I thought I knew and had heard it all. Mr. Norton, your content and experience threw everything I was told about wholesaling out the door. Can't believe how many have made millions selling information on this simple, yet, delicate subject. Thank you.
This breakdown right here is very essential before you can make a call to a seller or buyer by us being wholesalers we must understand this. You are a flipping genius. This is very useful be easy have a good one peace. God put us here for a reason. Thank you so much.
This is the best place to learn anything real estate. Jerry you're a flipping genius. I pray I can take care of my 2 babies with this life. Ive been going hard and making calls but I need to get down and get the preforeclosure list from the tax office
@@DeeDeeNezz nothing but progress my friend! Jerry Norton's videos TRULY helped me find confidence in my own self. Studying his work has laid fundamental groundwork for me to be successful. Currently my main focus is on my moving business, but it was Jerry's videos who gave me courage to start making calls. I got a real estate LLC and a moving company LLC, I use them to work together. My pitch usually goes, hey if you need help moving out, I own a moving company as well that can easily help you move out at an included price in the sale! Or separate. But I will say, I haven't closed on a deal because I haven't pursued any. I have many connections with agents now though and many of them love me for my moving services. I firmly believe that Jerry Norton helped me find a voice of my own. Just study study study and start putting it into practice. I will say, many deals I could have closed on. One is a 4-plex but the owner won't sell. Agents still think they in 2021 market lol. But I stand by Jerry on all 10. He's a pro and his knowledge is invaluable. You can easily flip with his methods as well. I met many buyers that want me to wholesale to them, don't matter a price, as long as it works for them. I just got hyperfocused on my moving business because my phone won't stop ringing!
The first rule of protecting the Earnest Money Deposit (EMD) is not to offer EMD. EMD is not legal consideration. Legal consideration is whatever the parties agree on an equitable exchange of interests in the transaction, or the promise of an equitable exchange of interests. By the way, EMD can be provided by either side of the transaction depending on the terms of the transaction.
Thanks Jerry! Ur the Champ. Question on ur Flipster software are you able to add these causes onto your given contracts? btw love all the name you got for Randy HAHA!
CONFUSED NEED ANSWERS 🤔🤔🤔: 1) If I am working with a realtor on an on market house as the wholesaler, do I call the realtor and tell them the verbiage so they can put it in the contract for me to have it signed? 2) To get the verbiage to the cash buyer, do I need to fill out a EMD contract in regards to the nonrefundable deposit so they can sign as well as I do? 3) The EMD that I have to pay I assume that is my own money correct? 4) Where would I find a title company in my location?
Does this go towards wholesalers or just investors ? Mainly the part where you have the statement that if transaction doesn’t close and it’s not your fault, you want your emd back. I’m asking because if a seller backs out, what is there that I could do 1. To still gain from the transaction , 2. To get emd back
Can you help me understand EMDs and inspection contingencies in NY? Here the inspection is done before contracts are signed. How do I workout time to wholesale a deal? Also EMD people expect 5-10% which can be 10k on the cheapest end in my area. How do I negotiate that to be lower?
How do I send the emd money to title company? I understand that the buyer in most cases will pay the emd but does the wholesaler have to write a check/send cash to the title company after the agreement is signed?
What if you put no earnest money and completely remove it from contract and only add it in addendum if sellers asks about it. Is that a legal good strategy here in MI?
On one hand you have emd you have to pay the seller, on the other hand you have emd that the buyer pays you, so if after the inspection period the buyer backs out, then the buyer didnt perform, and therefore you also didnt perform.. in this case, you lose your emd to the seller, but the buyer also loses his emd to you, so are you as the wholesaler ever at monetary risk?
Hey Jerry I’ve been talking to a motivated seller, he isn’t willing to work with a lot of wholesalers. Can I take out the assignee part out of my contract and still assign the contract to my buyer?
If your contract with the seller has the inspection contingency, then within that inspection period you can back out for any reason and not lose your emd, correct? So I dont understand when you say you can lose your emd, what circumstance would that fall under?
Hey, Diana! You can use your own money and you will get paid back when your end buyer provides the earnest money deposit (EMD) themselves. You can also use other people's money to cover the EMD until the end buyer provides it. Let me know if you have other questions!
Hey Jerry thank you so much for the videos. Im a little bit confused, when assigning the contract, do I put down just my wholesale fee? (10-20k)... or do I put down the TOTAL price? (Seller price plus wholesale fee)... Im just trying to understand which number goes on the actual ASSIGNMENT contract ??? Thank you so much in advance💜
Attach the contract or agreement between you and the seller with the assignment contract as well (with only your fee on it)to the title company or closing attorney (depends on who you are using to close). You can always ask attorney or title company before faxing or emailing it to them...but that’s the process I’ve done!
ATTENTION all Wholesalers. Have you ever had to cancel a deal because funds was an issue? No money, no problemo. You no longer need money for deals! I have a great purchase contract and I fund earnest money & double closings! I work in any market. Why aren’t we doing deals? Tag your friends please!
I have applied to work with Jerry about 6 times now and haven't gotten a single phone call, what do i have to do to be mentored by you ? Dont send me to your webinar because i can probably do your presentation for you verbatim , lol. Hope to hear from you soon.
They called me back within three days of filling out the application. It’s very questionable on why they haven’t called you back after applying 6 times
@@ItsTheMw3godTLake I don't know, where did the phone call come.from I'm regard to state? I might have missed a call ? I don't know but nor was I left a voicemail if that were the case.
We receive a lot of application everyday, so if you need to followup my support team would be happy to help with that! Please reach out to them at: support@flippingmastery.com or (888) 958-3028
Hey Jerry it seems that this scam has sprouted legs since a few guys in the business like yourself are spreading the word on youtube, it sucks nut sack that these guys or gals are fortunate enough to find deals and get contracts then they shit on great buyers who are literally their life blood to get the deals done. Trying to get into wholesaling myself and with douche bags like randy and this guy make it that much harder to get a starting shot. Thanks for the awesome content brother, hows the flip working out in tucson?
![6 Challenges to Overcome Wholesaling On-Market Properties [LIVE]](http://i.ytimg.com/vi/8apKWY0Douw/mqdefault.jpg)
We’ve never met but I truly love you . You aren’t arrogant like a lot of these so called gurus. You give VERY VERY good information. I love your transparency . This is the BEST wholesale channel on RUclips . Thank you ❤️
I thought I knew and had heard it all. Mr. Norton, your content and experience threw everything I was told about wholesaling out the door. Can't believe how many have made millions selling information on this simple, yet, delicate subject. Thank you.
-Randy The Shiester! Classic story and valuable lesson with that dude.
This breakdown right here is very essential before you can make a call to a seller or buyer by us being wholesalers we must understand this. You are a flipping genius. This is very useful be easy have a good one peace. God put us here for a reason. Thank you so much.
This is the best place to learn anything real estate. Jerry you're a flipping genius. I pray I can take care of my 2 babies with this life. Ive been going hard and making calls but I need to get down and get the preforeclosure list from the tax office
Update?
@@DeeDeeNezz nothing but progress my friend! Jerry Norton's videos TRULY helped me find confidence in my own self. Studying his work has laid fundamental groundwork for me to be successful. Currently my main focus is on my moving business, but it was Jerry's videos who gave me courage to start making calls. I got a real estate LLC and a moving company LLC, I use them to work together. My pitch usually goes, hey if you need help moving out, I own a moving company as well that can easily help you move out at an included price in the sale! Or separate. But I will say, I haven't closed on a deal because I haven't pursued any. I have many connections with agents now though and many of them love me for my moving services. I firmly believe that Jerry Norton helped me find a voice of my own. Just study study study and start putting it into practice. I will say, many deals I could have closed on. One is a 4-plex but the owner won't sell. Agents still think they in 2021 market lol. But I stand by Jerry on all 10. He's a pro and his knowledge is invaluable. You can easily flip with his methods as well. I met many buyers that want me to wholesale to them, don't matter a price, as long as it works for them. I just got hyperfocused on my moving business because my phone won't stop ringing!
Very good clarification You are way too awesome. Thanks
Thanks Jerry.👍
Great content and video! Fantastic Jerry!
Really enjoy your videos.
Thanks
The first rule of protecting the Earnest Money Deposit (EMD) is not to offer EMD.
EMD is not legal consideration.
Legal consideration is whatever the parties agree on an equitable exchange of interests in the transaction, or the promise of an equitable exchange of interests.
By the way, EMD can be provided by either side of the transaction depending on the terms of the transaction.
I needed this comment thanks
right on jerry you are the man great video great info, JERRY YOU ARE A FLIPPING GENIUS !
Thank you jerry I really needed this. 💪🏾
this felt personal 😬
Thanks Jerry! Ur the Champ. Question on ur Flipster software are you able to add these causes onto your given contracts? btw love all the name you got for Randy HAHA!
Yes you can!
CONFUSED NEED ANSWERS 🤔🤔🤔:
1) If I am working with a realtor on an on market house as the wholesaler, do I call the realtor and tell them the verbiage so they can put it in the contract for me to have it signed?
2) To get the verbiage to the cash buyer, do I need to fill out a EMD contract in regards to the nonrefundable deposit so they can sign as well as I do?
3) The EMD that I have to pay I assume that is my own money correct?
4) Where would I find a title company in my location?
very helpful video
Thank you thank you
In cases where deal falls apart and EMD is refunded, does the title company charge a fee?
Does this go towards wholesalers or just investors ? Mainly the part where you have the statement that if transaction doesn’t close and it’s not your fault, you want your emd back. I’m asking because if a seller backs out, what is there that I could do 1. To still gain from the transaction , 2. To get emd back
if the cash buyer doesn't close, you as the wholesaler keep his EMD
All of the Clauses you mentioned in the video is in your Flipster sales agreement as well? Thanks for the reply!
You will never forget Randy 😂
Lol, I’ll be calling him out from now on.
Can you help me understand EMDs and inspection contingencies in NY? Here the inspection is done before contracts are signed. How do I workout time to wholesale a deal? Also EMD people expect 5-10% which can be 10k on the cheapest end in my area. How do I negotiate that to be lower?
Has your formula with corona discount changed? It seems like I keep missing on my offers.
Hi Jerry, How about if you are dealing with an agent for a listed property?
Not needed. An agent won’t allow
@@FlippingMastery thank youuu!
How do I send the emd money to title company? I understand that the buyer in most cases will pay the emd but does the wholesaler have to write a check/send cash to the title company after the agreement is signed?
Send a wire to title
If you put up 1K EMD and you find a buyer that puts up 5k EMD. Does your 1K EMD get applied to the purchase price?
very interesting content
What if the appraisal is taking longer than usual, we missed the closing date from the buyer part?
Hi Jerry, have you updated your downloadable packet of information, with all these clauses? thanks
Jerry I have your contract where and how do I “Add” the disclosures to the contract for this particular situation if it comes up?
line 20 for addendums
What if you put no earnest money and completely remove it from contract and only add it in addendum if sellers asks about it. Is that a legal good strategy here in MI?
Yea if seller will agree. I like to just do $10-$100 so I show I made consideration. Makes your contract seem more legit.
Oh man..... Randy must be a total POS. Good looking out and calling out Bro 👍💯
On one hand you have emd you have to pay the seller, on the other hand you have emd that the buyer pays you, so if after the inspection period the buyer backs out, then the buyer didnt perform, and therefore you also didnt perform.. in this case, you lose your emd to the seller, but the buyer also loses his emd to you, so are you as the wholesaler ever at monetary risk?
Not if you do it right. Just remember, it doesn’t matter if your buyer doesn’t perform. As far as the seller is concerned you didn’t perform.
What about title company earnest money?
Hey Jerry I’ve been talking to a motivated seller, he isn’t willing to work with a lot of wholesalers. Can I take out the assignee part out of my contract and still assign the contract to my buyer?
You ha alway have do your due diligence, As questions someone which knowledge.
If your contract with the seller has the inspection contingency, then within that inspection period you can back out for any reason and not lose your emd, correct? So I dont understand when you say you can lose your emd, what circumstance would that fall under?
Outside of any contingencies you would lose your emd.
Who do you make the earnest money check out to? The seller? The title/escrow company?
Title/escrow. Never seller
how its going jerry i had a question i'm in your 10k club is ok to send you short sale deals
Yes but get bank approval first
@@FlippingMastery How do i go about getting bank approval Thanks
Jerry will you receive earnest money back if everything is clear , but investor can not locate wholesaler?
ruclips.net/video/AjYSi9AxVCs/видео.html
Is earnest money required to make the contract legal and binding?
No but it strengthens it. Just make it $10 to be safe.
So I have to use my own money to do this? I'm confused
Hey, Diana! You can use your own money and you will get paid back when your end buyer provides the earnest money deposit (EMD) themselves. You can also use other people's money to cover the EMD until the end buyer provides it. Let me know if you have other questions!
A seller wants $3k EMD and $1300 non refundable............. Pretty high. He wants to make sure the buyer is not going to back out
Is the payment of the emd to the title company the signal to start escrow
Yes and a copy of the original contract.
Hey! My name is Randy...I'm not a crook or a sleazebag!
Hey Jerry thank you so much for the videos. Im a little bit confused, when assigning the contract, do I put down just my wholesale fee? (10-20k)... or do I put down the TOTAL price? (Seller price plus wholesale fee)... Im just trying to understand which number goes on the actual ASSIGNMENT contract ??? Thank you so much in advance💜
Attach the contract or agreement between you and the seller with the assignment contract as well (with only your fee on it)to the title company or closing attorney (depends on who you are using to close). You can always ask attorney or title company before faxing or emailing it to them...but that’s the process I’ve done!
Does it cost any money to check the title?
If title closes your deal then its part of the closing costs.
ATTENTION all Wholesalers. Have you ever had to cancel a deal because funds was an issue? No money, no problemo. You no longer need money for deals! I have a great purchase contract and I fund earnest money & double closings! I work in any market. Why aren’t we doing deals? Tag your friends please!
I have applied to work with Jerry about 6 times now and haven't gotten a single phone call, what do i have to do to be mentored by you ? Dont send me to your webinar because i can probably do your presentation for you verbatim , lol. Hope to hear from you soon.
They called me back within three days of filling out the application. It’s very questionable on why they haven’t called you back after applying 6 times
@@ItsTheMw3godTLake I don't know, where did the phone call come.from I'm regard to state? I might have missed a call ? I don't know but nor was I left a voicemail if that were the case.
We receive a lot of application everyday, so if you need to followup my support team would be happy to help with that! Please reach out to them at: support@flippingmastery.com or (888) 958-3028
@@FlippingMastery Thank you I have called and left message, now just waiting for a call back.
5:05
Randy 😂😂😂
Ya, I'm sure he's changed his name! If you have multiple names, red flag, your a scammer!!😉
MAn this is a good one ... I just shouted you out in my video ... check it out
People investing in real estate while there’s hundreds of thousands of homeless people who can’t afford your rent
Hey Jerry it seems that this scam has sprouted legs since a few guys in the business like yourself are spreading the word on youtube, it sucks nut sack that these guys or gals are fortunate enough to find deals and get contracts then they shit on great buyers who are literally their life blood to get the deals done. Trying to get into wholesaling myself and with douche bags like randy and this guy make it that much harder to get a starting shot. Thanks for the awesome content brother, hows the flip working out in tucson?
we dont like randy lol
Randy ( La Rata ) Guzman🐭
😂😂😂🤬🤬🤬
Randy is the worst
man you talk to much