💸 Entrepreneurs & Professionals looking to get started and work closer with Alex and Ryan’s team, APPLY HERE: ➡ www.realestateskills.com/apply?el=vwre101 ✍ Attend our FREE training and learn How to Wholesale without Spending $1 on Marketing!: ➡ realestateskills.com/training?el=vwre101 🥇 Apply To Our PRO WHOLESALER VIP Program To Get Started, Today!: ➡ realestateskills.com/pro-wholesaler?el=vwre101
Hey Jorge, glad you loved this episode on virtual wholesaling! Appreciate the comment, means a lot! Be sure to subscribe here if you haven't yet so you know when our next vids come out: th-cam.com/users/realestateskills We'll be coming out with a ton more content on virtual wholesaling & flipping! Cheers & Happy Wholesaling! 🏠
Hi there! You're welcome! We're glad you found the information helpful. If you have any more questions, feel free to reach out. Happy investing! 😊 Cheers!
Oh my gosh, I’ve been waiting for a video like this. Thank you so much. I have nowhere. I just see this video and I’m like wow I literally needed this and here it is gosh thank you universe!!!!
Thank you so much for the kind words! It’s amazing how the universe delivers exactly what we need when we need it, right? 🎉 I’m thrilled that this video could be that “aha” moment for you! If you haven't already, check out our free training to offer you even more guidance on how to wholesale properties from the MLS! www.realestateskills.com/training If you have any questions or need more info as you dive deeper into the topic, feel free to ask. We’re here to help you on your journey! Keep that positive energy going, and happy learning! 😊
BOOM! We're all about changing lives! Hopefully this vid taught you a few things about virtual wholesaling! Definitely hit us with a Subscribe if you found value from this vid! We'll be coming out with more content all on wholesaling, flipping, and buying rental properties! :) Wishing you nothing but the best! Cheers!
Hey! We're glad you enjoyed our video all about virtual wholesaling real estate! Be sure to Subscribe here! th-cam.com/users/realestateskills We'll be coming out with more content very soon. Don't want you to miss it! :) Cheers & Happy Virtual Wholesaling! 🏠
Hey! Glad you enjoyed it and hopefully it taught you a thing or two on how to virtually wholesale real estate! ;) Be sure to grab the free wholesaling downloads in the description if you'd like some free resources to help you along the journey! Cheers & Happy Virtual Wholesaling! 🏠
Hey there! Go to Step 7 in this video here where we cover our favorite offers terms to us when virtually wholesaling real estate - th-cam.com/video/JFnUABPy-A8/w-d-xo.htmlsi=TVLMiT9V_OFKMk8J&t=2213 That should be exactly what you're looking for! Cheers & Happy Wholesaling! 🏠
Hi there! Thanks so much for the kind words! We're really glad the video helped. You've got this-taking action is the key to success in real estate! Remember, confidence grows with each step you take. Wishing you the best of luck! 💪 If you ever need guidance, we're here to help. Go crush it!
Love the videos you guys have been putting out! Quick question, in the process of closing a deal. After the cash buyer signs the Assignment of Contract, how will the actual purchasing contract and assignment contract be dealt with the title/escrow company? Will we have the listing agent, also our buying agent, take those documents and go to their title/escrow company or do we have to contact a title/escrow company ourselves? Thank you!
Hi @shreyninjagaming8090 Great question! As a wholesaler or investor, it’s your responsibility to submit the signed Assignment of Contract and the original Purchase Agreement to the title or escrow company closing the deal. While agents typically don’t handle this step, you may be working with one who has a preferred title/escrow company. In this case, you might be able to pass the documents to your agent for forwarding, but this is less common. Always stay in close contact with your agent to see their preferred method. *Very importantly, find an investor friendly title company that is willing to close assignment deals early on. Unfortunately, some title companies won't always accept these deals. Let them know ahead of time you're going to be wholesaling and assigning your equitable interest in the deals you bring them. After submission, the title/escrow company to ensure everything is moving smoothly! Hope this helps. Cheers! 💙 For more, you can visit our blogs on these topics: www.realestateskills.com/blog/assignment-of-contract www.realestateskills.com/blog/escrow
Hi Alyssa, Thanks! Glad you enjoyed the video! To send a written offer to the seller or agent, you'll typically use a Purchase and Sale Agreement (PSA). You can fill out the offer with all the key details-price, terms, contingencies, etc.-and send it via email or through an electronic signature platform like DocuSign. Always follow up with the agent or seller to ensure they've received it! Hope this helps! 💙
Lovely content, it's full of information, i have a question, i don't line usa but i want to start this business, how can i start it? Please guide briefly
Hi There! You can start virtual wholesaling from anywhere! Here’s how: Pick a USA Market: Choose an area with active real estate investors. Build a Local Team: Work with agents, title companies, and inspectors for on-the-ground support. Access MLS Data: Use tools like PropStream or work with agents for property listings. Find Cash Buyers: Use platforms like Craigslist, networking, and skip tracing to build your buyer list. Close Deals Remotely: Negotiate deals and assign contracts to cash buyers. Hope this helps!💙
@@RealEstateSkills thanks alot, one more question, do i need to make llc to start? can you recommend me more videos of virtual wholesaling because I'm in my learning phase...
Hey Paul - glad you think our content is stellar! Be sure to Subscribe as we'll be coming out with more great content all on wholesaling, fixing & flipping, and getting rental properties! Cheers & Happy Wholesaling! 🏠
How much is it to get into your guys program? I’m really interested in getting started wholesaling. I’m 18 and would like to make a future for myself where I have financial freedom.
Hey Skyler - kudos to you for educating yourself with the goal of getting financially free. I got my start right around 19/20 so you're a year ahead of when I got started wholesaling! We actually have multiple programs, so I recommend checking out our free training here on How To Wholesale & Flip Houses Without Spending $1 On Marketing: realestateskills.com/training?el=vwre101 At the end of the free training, you can book a Strategy Session with my team and I to discuss the programs and to see if we're a right fit! Also, here are our program pages if you want to take a look and book a strategy session with our team to discuss: realestateskills.com/pro-wholesaler?el=vwre101 realestateskills.com/ultimate-investor?el=vwre101 You got this. Looking forward to seeing your growth! Cheers!
Thank you for releasing the deal calculator. I was working with it this morning and came across something confusing . “The purchase price” Do i offer the purchase price to the seller in the contract? If so, is that also the same price I offer to the buyer? Example: if I want to offer $60k to the seller, using the calculator, do I also offer $60k to the buyer? Thanks for all the great Information
Hey Anthony appreciate your comments. Glad you're digging our content! "The Purchase Price" is the price you are offering/purchasing the property. This is the price that goes onto the contract with the agent. If you are buying the property at $60k, then the purchase price is $60k. You then offer the property to your Cash Buyer with the purchase price + your wholesale fee. So, for example, if you have the property under contract with the seller at $60k and want to wholesale to your Cash Buyer and make a $10k fee, you would then offer the property at $70k to your cash buyer. If you successfully wholesale & assign the deal, the Cash Buyer would then pay the seller $60k and you would get a $10k assignment fee in this example. Cheers & Happy Wholesaling! 🏠
@@RealEstateSkills thank you so much!! Just for clarification. While using the Deal Calculator when I have $60k in as my purchase price, and $10k in as my whole sale fee, along with all the other numbers included, the deal net profit is what the buyer will make right? After Repaired If so then does that mean I have to offer 10k less (50k to the seller) so the buyer at 60k can realize the deal net profit
Correct. If you have $60k as your purchase price (meaning the price you are offering on the house), then put that in the Purchase Price of the Property cell. You put your $10k wholesale fee in the cell that says Wholesale / Assignment Fee. In this scenario, the Cash Buyer would essentially be purchasing the property at $70k (Cash Buyer pays the Seller their $60k Purchase Price + Pays you YOUR $10k wholesale fee). The Deal Net Profit realizes both the Purchase Price inputted and the Wholesale Fee, so nothing else needs to be adjusted.
Hey there, nope we aren't selling mostly to hedge funds, but we do still sell to hedge funds. Typically, we sell our contracts to local Cash Buyers doing multiple deals per month. They're hungry for deals, have boots on the ground, and are able to act quickly on deals. We are dabbling with Investor Lift at the moment, but we have been wholesaling deals without Investor Lift for over a decade. Cheers & Happy Wholesaling! 🏠 P.S. If you haven't yet, be sure to Subscribe here if you want to be notified when our next vids are coming out: Be sure to subscribe here if you haven't yet so you know when our next vids come out: th-cam.com/users/realestateskills ;)
Hi Alex, quick question about comps, if there aren’t many comps around the property that I’m looking at, could I possibly use a renovated house that is currently on the market to sell as a comp? Something with similar square footage, beds and baths, that hasn’t been sold yet. Maybe I could use the price that they’re trying to sell it for as a comp? Just making sure
Hey there! Definitely grab Real Estate Skills Comp Criteria cheatsheet to know the best practices on real estate comping here: realestateskills.com/comp?el=vwre101 It's best to use SOLD, renovated comps. An Active or Pending property is just to be used as a guideline, but cannot use it to accurately determine your ARV. First, I recommend expanding your reach a little bit. For example, if your subject property is a 3 bed / 2 bath, look to see if there are any 4 bed / 2baths that have sold in the area. Secondly, if there are truly no comps, then I recommend using the best SOLD comp as your ARV price ceiling. A sophisticated cash buyer won't buy a property with no comps! Therefore, if there are truly no comps to justify a strong ARV, then we recommend focusing on another property that does have comps! It will be a much better utilization of your time! Be sure to download the Real Estate Skills Comp Criteria Cheatsheet, this way you always have our comping rules with you and so that you don’t forget them. Cheers & Happy Virtual Wholesaling! 🏠
Hi Lawrence! Great question! The process for a virtual double closing is mostly the same as in person. Here’s what to keep in mind: Title/Escrow Company: Use an investor-friendly company familiar with virtual closings. Clear Communication: Stay in close contact with buyers, sellers, and your title company. E-signatures: Use digital platforms like DocuSign for signing. Funds: Ensure your end buyer’s funds are ready to avoid delays. For more info, check out our blog: www.realestateskills.com/blog/double-closing Hope this helps!💙
Great video! Can you guys explain what happened after August 17? And how it will affect wholesalers? who'a paying the seller’s agent? Can I still ask the seller agent to represent me?
Hey @zaynhuss1728, thank you for tuning in! Yes, we'll add this topic to the queue and will provide an update on the changes following the NAR lawsuit. In short, the biggest changes are: 1. No offers of cooperating broker commission are allowed on the MLS. 2. Buyers must sign a buyer's agent representation agreement before working with an agent. The buyer's representation agreement will state the compensation owed to the buyer's agent from the buyer. The buyer will be responsible for paying their agent, if they are working with you. That said, you can structure your offer to allow for the seller to pay for the buyer's agent commission. Yes, you can still ask the seller's agent to represent you on a transaction. We are still finding deals and wholesaling given these changes. It's all about adapting with the times!
Hi Grace! Great question! While no single title company covers all states perfectly, First American Title, Fidelity National Title, Old Republic Title, and Chicago Title are known for being investor-friendly and handling double closings. It's always good to confirm that your local office is experienced with wholesale deals. You can also reach out to local real estate investor groups for recommendations, as services vary by region. For more info: www.realestateskills.com/blog/double-closing Hope this helps!💙
Hi there! Here's how we'd approach getting a proof of funds (POF) as a beginner: Use Hard Money Lenders: Many lenders offer instant POF letters online, even if you don’t borrow from them. Sites like BestTransactionFunding.com or DoubleClose.com are great for this. Partner with Cash Buyers: Ask a cash buyer or financing partner to provide a POF letter or bank screenshot to help you submit offers. Network with Investors: Connect with local investors who can back your deals in exchange for a share of the profits. Always include a POF with your offers for credibility. Hope this helps!💙
I'm not a global attorney, but seems like it would be legal if you follow all the laws and regulations for whichever states in the US you are wholesaling in, and your own country's laws & regulations.
Hi Reed! The typical inspection contingency period is around 7 to 14 days, but this can vary depending on your market and the agreement between both parties. In a competitive market, shorter periods (around 5 days) are sometimes preferred. Make sure to negotiate based on the deal’s specifics! Cheers!💙
Hi @ArtisticallyAspiring, yes - absolutely! We submit offers virtually every single time. Check out our video on how to fill out a wholesale real estate contract line-by-line here: th-cam.com/video/eBMntRZyvh8/w-d-xo.htmlsi=9V7O2v03vUErYbEe Also, be sure to download our free real estate wholesale contract template here: www.realestateskills.com/contracts-yto?el=htfowrec Let us know if you have any questions after going through the training. To your success!
Love you guys' channel. But yall are lowkey bashing off market deals lol. Im currently getting my first deal, an off market property under contract from posting an ad on craigslist lol 😂. You dont have to spend anything it may take longer but Im pretty sure the assignment fees are typically bigger compared to on market but im just speculating. Also I have a question when drawing up the contract for an on market deal how do you get the Real estate agent to use the contract you use? And same thing with the title company how do you get the agent to use your title company?
I wouldn’t say we’re bashing off market deals. What we’re communicating is that if you are spending tens of thousands of dollars in marketing to get off market deals and you are a beginner wholesaler, then you can lose a lot of money by not knowing what you’re doing. Unfortunately, we’ve seen many people go down this path and then call it quits on real estate completely. But that’s awesome you are working towards getting your first deal under contract. Time to lock it up & wholesale it! When wholesaling houses on the market, we don’t use our own contract. We actually use the contract that everyone is familiar with using on the market, which is the state contract wherever you are wholesaling. For example, in California, we us the California Association of Realtors Contract also known as the Residential Purchase Agreement (RPA). To get an agent to use your title company, all you do is ask the agent and put it into the contract. Cheers & Happy Wholesaling!
@@RealEstateSkills ok I understand where yall are coming from. So I live in Texas and Ik we use the TREC contract which says that it cannot be assigned unless it states otherwise in the contract. But then Ive also read that any contract is assignable by default as long as there isn't a no assignment clause. How I do I tell the agent to include and/or assigns next my name on the seller line? And how do I overcome an objection. Sorry for so many questions lol but that's my biggest obstacle that Ive see
What exactly does it say on the TREC contract that it's non-assignable? In our experience, the TREC contract is assignable and does not have any language in the contract saying it can't be assigned. We simply use an assignment agreement that needs to be signed by us (the wholesaler) and the end buyer (cash buyer).
💸 Entrepreneurs & Professionals looking to get started and work closer with Alex and Ryan’s team, APPLY HERE:
➡ www.realestateskills.com/apply?el=vwre101
✍ Attend our FREE training and learn How to Wholesale without Spending $1 on Marketing!:
➡ realestateskills.com/training?el=vwre101
🥇 Apply To Our PRO WHOLESALER VIP Program To Get Started, Today!:
➡ realestateskills.com/pro-wholesaler?el=vwre101
Loved this episode! You guys are one of my top channels for real estate. Keep it up!
Hey Jorge, glad you loved this episode on virtual wholesaling! Appreciate the comment, means a lot!
Be sure to subscribe here if you haven't yet so you know when our next vids come out: th-cam.com/users/realestateskills
We'll be coming out with a ton more content on virtual wholesaling & flipping!
Cheers & Happy Wholesaling! 🏠
Thanks a ton fellas! Much appreciated!
Hi there!
You're welcome! We're glad you found the information helpful. If you have any more questions, feel free to reach out. Happy investing! 😊
Cheers!
Oh my gosh, I’ve been waiting for a video like this. Thank you so much. I have nowhere. I just see this video and I’m like wow I literally needed this and here it is gosh thank you universe!!!!
Out of nowhere *
Thank you so much for the kind words! It’s amazing how the universe delivers exactly what we need when we need it, right? 🎉
I’m thrilled that this video could be that “aha” moment for you! If you haven't already, check out our free training to offer you even more guidance on how to wholesale properties from the MLS! www.realestateskills.com/training
If you have any questions or need more info as you dive deeper into the topic, feel free to ask. We’re here to help you on your journey! Keep that positive energy going, and happy learning! 😊
In my entire life I never imagined I would learn about this.
BOOM! We're all about changing lives! Hopefully this vid taught you a few things about virtual wholesaling!
Definitely hit us with a Subscribe if you found value from this vid! We'll be coming out with more content all on wholesaling, flipping, and buying rental properties! :)
Wishing you nothing but the best!
Cheers!
Great video!!!
Hey! We're glad you enjoyed our video all about virtual wholesaling real estate!
Be sure to Subscribe here! th-cam.com/users/realestateskills
We'll be coming out with more content very soon. Don't want you to miss it! :)
Cheers & Happy Virtual Wholesaling! 🏠
Great episode!!!
Hey! Glad you enjoyed it and hopefully it taught you a thing or two on how to virtually wholesale real estate! ;)
Be sure to grab the free wholesaling downloads in the description if you'd like some free resources to help you along the journey!
Cheers & Happy Virtual Wholesaling! 🏠
Hey I’m close to getting my first deal and I’m wondering what are the terms I should put in my contract or in my offer terms
Hey there! Go to Step 7 in this video here where we cover our favorite offers terms to us when virtually wholesaling real estate - th-cam.com/video/JFnUABPy-A8/w-d-xo.htmlsi=TVLMiT9V_OFKMk8J&t=2213
That should be exactly what you're looking for!
Cheers & Happy Wholesaling! 🏠
Alex and Ryan thank you so much for this amazing and detailed video! Now I need the courage to put this into action... wish me luck!
Hi there!
Thanks so much for the kind words! We're really glad the video helped. You've got this-taking action is the key to success in real estate! Remember, confidence grows with each step you take. Wishing you the best of luck! 💪 If you ever need guidance, we're here to help. Go crush it!
Love the videos you guys have been putting out! Quick question, in the process of closing a deal. After the cash buyer signs the Assignment of Contract, how will the actual purchasing contract and assignment contract be dealt with the title/escrow company? Will we have the listing agent, also our buying agent, take those documents and go to their title/escrow company or do we have to contact a title/escrow company ourselves? Thank you!
Hi @shreyninjagaming8090
Great question! As a wholesaler or investor, it’s your responsibility to submit the signed Assignment of Contract and the original Purchase Agreement to the title or escrow company closing the deal. While agents typically don’t handle this step, you may be working with one who has a preferred title/escrow company. In this case, you might be able to pass the documents to your agent for forwarding, but this is less common.
Always stay in close contact with your agent to see their preferred method.
*Very importantly, find an investor friendly title company that is willing to close assignment deals early on. Unfortunately, some title companies won't always accept these deals. Let them know ahead of time you're going to be wholesaling and assigning your equitable interest in the deals you bring them.
After submission, the title/escrow company to ensure everything is moving smoothly!
Hope this helps. Cheers! 💙
For more, you can visit our blogs on these topics:
www.realestateskills.com/blog/assignment-of-contract
www.realestateskills.com/blog/escrow
Great video! How do you send a written offer to the seller/agent?
Hi Alyssa,
Thanks! Glad you enjoyed the video! To send a written offer to the seller or agent, you'll typically use a Purchase and Sale Agreement (PSA). You can fill out the offer with all the key details-price, terms, contingencies, etc.-and send it via email or through an electronic signature platform like DocuSign.
Always follow up with the agent or seller to ensure they've received it!
Hope this helps! 💙
Lovely content, it's full of information, i have a question, i don't line usa but i want to start this business, how can i start it? Please guide briefly
Hi There!
You can start virtual wholesaling from anywhere! Here’s how:
Pick a USA Market: Choose an area with active real estate investors.
Build a Local Team: Work with agents, title companies, and inspectors for on-the-ground support.
Access MLS Data: Use tools like PropStream or work with agents for property listings.
Find Cash Buyers: Use platforms like Craigslist, networking, and skip tracing to build your buyer list.
Close Deals Remotely: Negotiate deals and assign contracts to cash buyers.
Hope this helps!💙
@@RealEstateSkills thanks alot, one more question, do i need to make llc to start? can you recommend me more videos of virtual wholesaling because I'm in my learning phase...
Amazing amazing amazing
Hey Paul - glad you think our content is stellar!
Be sure to Subscribe as we'll be coming out with more great content all on wholesaling, fixing & flipping, and getting rental properties!
Cheers & Happy Wholesaling! 🏠
How much is it to get into your guys program? I’m really interested in getting started wholesaling. I’m 18 and would like to make a future for myself where I have financial freedom.
Hey Skyler - kudos to you for educating yourself with the goal of getting financially free. I got my start right around 19/20 so you're a year ahead of when I got started wholesaling!
We actually have multiple programs, so I recommend checking out our free training here on How To Wholesale & Flip Houses Without Spending $1 On Marketing: realestateskills.com/training?el=vwre101
At the end of the free training, you can book a Strategy Session with my team and I to discuss the programs and to see if we're a right fit!
Also, here are our program pages if you want to take a look and book a strategy session with our team to discuss:
realestateskills.com/pro-wholesaler?el=vwre101
realestateskills.com/ultimate-investor?el=vwre101
You got this. Looking forward to seeing your growth! Cheers!
Thank you for releasing the deal calculator. I was working with it this morning and came across something confusing .
“The purchase price”
Do i offer the purchase price to the seller in the contract? If so, is that also the same price I offer to the buyer?
Example: if I want to offer $60k to the seller, using the calculator, do I also offer $60k to the buyer?
Thanks for all the great Information
Hey Anthony appreciate your comments. Glad you're digging our content!
"The Purchase Price" is the price you are offering/purchasing the property. This is the price that goes onto the contract with the agent. If you are buying the property at $60k, then the purchase price is $60k.
You then offer the property to your Cash Buyer with the purchase price + your wholesale fee. So, for example, if you have the property under contract with the seller at $60k and want to wholesale to your Cash Buyer and make a $10k fee, you would then offer the property at $70k to your cash buyer. If you successfully wholesale & assign the deal, the Cash Buyer would then pay the seller $60k and you would get a $10k assignment fee in this example.
Cheers & Happy Wholesaling! 🏠
@@RealEstateSkills thank you so much!!
Just for clarification.
While using the Deal Calculator when I have $60k in as my purchase price, and $10k in as my whole sale fee, along with all the other numbers included, the deal net profit is what the buyer will make right? After Repaired
If so then does that mean I have to offer 10k less (50k to the seller) so the buyer at 60k can realize the deal net profit
Correct.
If you have $60k as your purchase price (meaning the price you are offering on the house), then put that in the Purchase Price of the Property cell.
You put your $10k wholesale fee in the cell that says Wholesale / Assignment Fee.
In this scenario, the Cash Buyer would essentially be purchasing the property at $70k (Cash Buyer pays the Seller their $60k Purchase Price + Pays you YOUR $10k wholesale fee).
The Deal Net Profit realizes both the Purchase Price inputted and the Wholesale Fee, so nothing else needs to be adjusted.
@realestateskills Are you guys selling mostly to Hedgefunds? And do you guys leverage investor lift to dispo to cash buyers?
Hey there, nope we aren't selling mostly to hedge funds, but we do still sell to hedge funds. Typically, we sell our contracts to local Cash Buyers doing multiple deals per month. They're hungry for deals, have boots on the ground, and are able to act quickly on deals. We are dabbling with Investor Lift at the moment, but we have been wholesaling deals without Investor Lift for over a decade.
Cheers & Happy Wholesaling! 🏠
P.S. If you haven't yet, be sure to Subscribe here if you want to be notified when our next vids are coming out: Be sure to subscribe here if you haven't yet so you know when our next vids come out: th-cam.com/users/realestateskills ;)
Hi Alex, quick question about comps, if there aren’t many comps around the property that I’m looking at, could I possibly use a renovated house that is currently on the market to sell as a comp? Something with similar square footage, beds and baths, that hasn’t been sold yet. Maybe I could use the price that they’re trying to sell it for as a comp? Just making sure
Hey there!
Definitely grab Real Estate Skills Comp Criteria cheatsheet to know the best practices on real estate comping here: realestateskills.com/comp?el=vwre101
It's best to use SOLD, renovated comps. An Active or Pending property is just to be used as a guideline, but cannot use it to accurately determine your ARV.
First, I recommend expanding your reach a little bit. For example, if your subject property is a 3 bed / 2 bath, look to see if there are any 4 bed / 2baths that have sold in the area.
Secondly, if there are truly no comps, then I recommend using the best SOLD comp as your ARV price ceiling. A sophisticated cash buyer won't buy a property with no comps!
Therefore, if there are truly no comps to justify a strong ARV, then we recommend focusing on another property that does have comps! It will be a much better utilization of your time!
Be sure to download the Real Estate Skills Comp Criteria Cheatsheet, this way you always have our comping rules with you and so that you don’t forget them.
Cheers & Happy Virtual Wholesaling! 🏠
@@RealEstateSkillsthank you!
@@leonizio2228 You're very welcome!
is there a difference when it comes to double closing virtually ?
Hi Lawrence!
Great question! The process for a virtual double closing is mostly the same as in person.
Here’s what to keep in mind:
Title/Escrow Company: Use an investor-friendly company familiar with virtual closings.
Clear Communication: Stay in close contact with buyers, sellers, and your title company.
E-signatures: Use digital platforms like DocuSign for signing.
Funds: Ensure your end buyer’s funds are ready to avoid delays.
For more info, check out our blog:
www.realestateskills.com/blog/double-closing
Hope this helps!💙
Great video! Can you guys explain what happened after August 17?
And how it will affect wholesalers?
who'a paying the seller’s agent?
Can I still ask the seller agent to represent me?
Hey @zaynhuss1728, thank you for tuning in! Yes, we'll add this topic to the queue and will provide an update on the changes following the NAR lawsuit.
In short, the biggest changes are:
1. No offers of cooperating broker commission are allowed on the MLS.
2. Buyers must sign a buyer's agent representation agreement before working with an agent.
The buyer's representation agreement will state the compensation owed to the buyer's agent from the buyer. The buyer will be responsible for paying their agent, if they are working with you. That said, you can structure your offer to allow for the seller to pay for the buyer's agent commission.
Yes, you can still ask the seller's agent to represent you on a transaction. We are still finding deals and wholesaling given these changes. It's all about adapting with the times!
do you have a recommended wholesaler double closing friendly title company that services nationwide?
Hi Grace!
Great question! While no single title company covers all states perfectly, First American Title, Fidelity National Title, Old Republic Title, and Chicago Title are known for being investor-friendly and handling double closings. It's always good to confirm that your local office is experienced with wholesale deals.
You can also reach out to local real estate investor groups for recommendations, as services vary by region.
For more info:
www.realestateskills.com/blog/double-closing
Hope this helps!💙
How do you guys handle a proof of income if you were in the shoes of someone trying to start their journey?
Hi there!
Here's how we'd approach getting a proof of funds (POF) as a beginner:
Use Hard Money Lenders: Many lenders offer instant POF letters online, even if you don’t borrow from them. Sites like BestTransactionFunding.com or DoubleClose.com are great for this.
Partner with Cash Buyers: Ask a cash buyer or financing partner to provide a POF letter or bank screenshot to help you submit offers.
Network with Investors: Connect with local investors who can back your deals in exchange for a share of the profits.
Always include a POF with your offers for credibility.
Hope this helps!💙
I don't live in the US, is it legal to wholesale from a different country in US market?
I'm not a global attorney, but seems like it would be legal if you follow all the laws and regulations for whichever states in the US you are wholesaling in, and your own country's laws & regulations.
What is a normal day amount for the inspection contingency?
Hi Reed!
The typical inspection contingency period is around 7 to 14 days, but this can vary depending on your market and the agreement between both parties. In a competitive market, shorter periods (around 5 days) are sometimes preferred.
Make sure to negotiate based on the deal’s specifics!
Cheers!💙
@@RealEstateSkills Thank you for getting back!
Can we talk about how to submit offers virtually? Is there a template?
Hi @ArtisticallyAspiring, yes - absolutely! We submit offers virtually every single time. Check out our video on how to fill out a wholesale real estate contract line-by-line here: th-cam.com/video/eBMntRZyvh8/w-d-xo.htmlsi=9V7O2v03vUErYbEe
Also, be sure to download our free real estate wholesale contract template here: www.realestateskills.com/contracts-yto?el=htfowrec
Let us know if you have any questions after going through the training. To your success!
Love you guys' channel. But yall are lowkey bashing off market deals lol. Im currently getting my first deal, an off market property under contract from posting an ad on craigslist lol 😂. You dont have to spend anything it may take longer but Im pretty sure the assignment fees are typically bigger compared to on market but im just speculating. Also I have a question when drawing up the contract for an on market deal how do you get the Real estate agent to use the contract you use? And same thing with the title company how do you get the agent to use your title company?
I wouldn’t say we’re bashing off market deals. What we’re communicating is that if you are spending tens of thousands of dollars in marketing to get off market deals and you are a beginner wholesaler, then you can lose a lot of money by not knowing what you’re doing. Unfortunately, we’ve seen many people go down this path and then call it quits on real estate completely.
But that’s awesome you are working towards getting your first deal under contract. Time to lock it up & wholesale it!
When wholesaling houses on the market, we don’t use our own contract. We actually use the contract that everyone is familiar with using on the market, which is the state contract wherever you are wholesaling. For example, in California, we us the California Association of Realtors Contract also known as the Residential Purchase Agreement (RPA).
To get an agent to use your title company, all you do is ask the agent and put it into the contract.
Cheers & Happy Wholesaling!
@@RealEstateSkills ok I understand where yall are coming from. So I live in Texas and Ik we use the TREC contract which says that it cannot be assigned unless it states otherwise in the contract. But then Ive also read that any contract is assignable by default as long as there isn't a no assignment clause. How I do I tell the agent to include and/or assigns next my name on the seller line? And how do I overcome an objection. Sorry for so many questions lol but that's my biggest obstacle that Ive see
@@RealEstateSkills and thank you by the way I hope to get $30k in assignments or close to it.
What exactly does it say on the TREC contract that it's non-assignable? In our experience, the TREC contract is assignable and does not have any language in the contract saying it can't be assigned.
We simply use an assignment agreement that needs to be signed by us (the wholesaler) and the end buyer (cash buyer).
Awesome to hear! You got this!