💸 Entrepreneurs & Professionals looking to get started and work closer with Ryan’s team, APPLY HERE: ➡ www.realestateskills.com/apply?el=htfowrec Download Our PROVEN Wholesale Real Estate Contracts for FREE!: ➡ www.realestateskills.com/contracts-yto?el=htfowrec ✍ Attend our FREE training and learn How to Wholesale without Spending $1 on Marketing!: ➡ realestateskills.com/training?el=htfowrec 🥇 Apply To Our PRO WHOLESALER VIP Program To Get Started, Today!: ➡ realestateskills.com/pro-wholesaler?el=htfowrec
Thank you! Glad you enjoy our content on all things real estate! Be sure to subscribe here if you haven't yet: th-cam.com/users/realestateskills Also, here's a link to the free downloadable wholesale real estate contracts covered in the video: www.realestateskills.com/contracts?el=htfowrec Cheers & Happy Wholesaling! 🏠
Hi there! Thank you so much for the kind words! We’re thrilled that you found the explanation helpful. If you ever have any other questions, feel free to reach out. Happy wholesaling!
Amazing content as always. I have a question, i am going to start my virtual wholesaling soon, can you please answer some questions i am stuck... 1) How can i find the best title or escrow company for my virtual wholesaling? 2) If the buyer wants to visit the property for inspection, how can i help him do him? please guide
Hi there! Great questions! Let’s break these down: Finding the Best Title/Escrow Company for Virtual Wholesaling: Look for an investor-friendly title or escrow company that specializes in assignments and double closings. You can: Network online through real estate groups on Facebook, BiggerPockets, or local REIAs (Real Estate Investor Associations). Ask cash buyers or other wholesalers in the market for recommendations. Use Google reviews or call local title companies to inquire about their experience with virtual closings and wholesaling. Helping the Buyer with Property Inspections: Since you’re wholesaling virtually, you can coordinate a local real estate agent or property manager to meet the buyer at the property. Alternatively: Hire a local runner or inspector to assist with access. Contact the seller or current tenant (if applicable) to coordinate with the buyer. Hope this helps you get started smoothly! 🎉
So the assignment contract won’t have how much the cash buyer is purchasing? That’s why we send a copy of the purchase agreement? Because we give the seller Our price on the purchase agreement and the cash buyer won’t get the full total in one agreement that includes our assignment fee? So you include the ARV/rehab and total amount via email. No assignment fee is disclosed until the assignment of contract is what I’m trying to say
Hi Anthony, Great question! While dates for Inspection Contingency 8a and 8b can sometimes align, they don’t necessarily have to be the same. 8a typically covers the buyer’s inspection period, while 8b relates to negotiations after the inspection. It’s common to set a shorter period for 8b to allow final decisions or renegotiations, but it ultimately depends on the terms you negotiate. Hope this helps!🏡
Hi there! Yes, a deed held by a corporation can be marketable, just like an individual’s deed. However, the title company will ensure the corporation has the proper authority to sell the property. This often requires corporate resolutions or proof of authority from the company’s officers. If you're wholesaling, it’s important to work with an investor-friendly title company to handle these details smoothly. Hope this helps! 💙
Great question! The Maximum Allowable Offer (MAO) is the total amount you can offer the seller, including your desired profit or assignment fee. So, if your MAO is $98,350, that amount should already account for your assignment fee. If your goal is a $10,000 assignment fee, you would offer the seller less than the $98,350 to leave room for your payment as a wholesaler. The general MAO formula is: ARV - Fixed Costs (closing fees, holding costs, taxes, etc.) - Repair Costs - Wholesale Fee = MAO For example: If your MAO is $98,350 and you want a $10,000 fee, your offer to the seller would be $88,350. Then, you would assign the contract to the buyer for $98,350, which includes your $10,000 fee. This ensures you are staying within your MAO while factoring in your profit. Be sure you are accurate as possible when calculating the ARV and MAO as these will be the most important numbers you need to make sure it's a worthwhile investment for your end buyer as well as gaining a profitable wholesale fee. For more, check out our blog at: www.realestateskills.com/blog/assignment-fee Hope this helps!💙
Hi Gabe! When using transactional funding to close a wholesale deal, there are two key transactions: A-to-B Transaction: A purchase agreement between you (the wholesaler) and the seller (A), funded by transactional financing. B-to-C Transaction: An assignment contract or second purchase agreement between you and the end buyer (C), who purchases the property at a higher price. Key changes include: Timing: Both transactions must close the same day. Funding Agreement: You’ll sign a transactional funding agreement with the lender to ensure repayment from the B-to-C sale. Double Closing Fees: You may incur fees for both closings. For more on this, visit: www.realestateskills.com/blog/assignment-of-contract
Hey @nossatex1205, thanks for your question! We typically get paid by the title company or escrow company, which is where the buyer or their lender sends the funds to purchase the wholesale property. In some cases, we may received our wholesale fee directly from the cash buyer. It depends on how we structure the wholesale deal. Let us know if you have any additional questions about wholesale real estate contracts! Happy investing! :)
Hey @sharonadruyan6049! Thanks for tuning in and you're very welcome! We appreciate your support. Did you use this link to download the wholesale contracts? www.realestateskills.com/contracts-yto?el=htfowrec What about the contracts you downloaded don't look the same? We just TRIPLE checked and they are exactly the same as in the video! We'll make sure you get the right contracts, one way or another!
@@RealEstateSkills thanks for your response, the first one I got from your emails I think. but I downloaded it again from the link you provided and it is the same. I appreciate you and the information you provide, it is very helpful.
Hi there! Yes, you can modify the contract to state that the earnest money deposit (EMD) will be paid at the end of your 10-day inspection period. This can be beneficial as it gives you time to complete due diligence before committing funds. To do this, you would simply add a clause or modify the earnest money section to specify that the EMD will be due after the inspection period is over. Be sure to clarify this with the seller and ensure it's written clearly in the contract, so both parties agree. For more on contract negotiations and the inspection process, you can visit: www.realestateskills.com/blog/wholesale-real-estate-contract Hope this helps!💙
Hey thanks man i really appreciate you responding to me so quickly! do you have any videos explaining the next steps after getting an OFF MARKET house under contract? I've been a little confused about working with a title company. i heard i have to open an escrow with the title company right after? what if the EMD won't get paid until the end of inspection, do i not open escrow? and are there other fees when doing it this way instead of like when you go through an agent for an ON market deal? thanks again in advance!
Hi Edgar! Great question! Yes, most assignment contracts used in wholesaling are generally applicable nationwide, including in Atlanta, GA. However, it's crucial to ensure your contract complies with state-specific laws. In Georgia, wholesaling is allowed, but you’ll want to check that the assignment of contract is clear and transparent, especially when dealing with real estate agents and closing attorneys. To be safe, consider having your contract reviewed by a real estate attorney familiar with Georgia laws to ensure it meets any state or local regulations. Hope this helps!💙
💸 Entrepreneurs & Professionals looking to get started and work closer with Ryan’s team, APPLY HERE: ➡ www.realestateskills.com/apply?el=htfowrec
Download Our PROVEN Wholesale Real Estate Contracts for FREE!: ➡ www.realestateskills.com/contracts-yto?el=htfowrec
✍ Attend our FREE training and learn How to Wholesale without Spending $1 on Marketing!: ➡ realestateskills.com/training?el=htfowrec
🥇 Apply To Our PRO WHOLESALER VIP Program To Get Started, Today!: ➡ realestateskills.com/pro-wholesaler?el=htfowrec
the best real estate channel
Thank you! Glad you enjoy our content on all things real estate!
Be sure to subscribe here if you haven't yet: th-cam.com/users/realestateskills
Also, here's a link to the free downloadable wholesale real estate contracts covered in the video: www.realestateskills.com/contracts?el=htfowrec
Cheers & Happy Wholesaling! 🏠
A great detailed line by line…. The best explanation thus far!
Hi there!
Thank you so much for the kind words! We’re thrilled that you found the explanation helpful. If you ever have any other questions, feel free to reach out. Happy wholesaling!
Thank you !
Hi Richard!
You're welcome! Glad you found it helpful! 💙
Amazing content as always. I have a question, i am going to start my virtual wholesaling soon, can you please answer some questions i am stuck...
1) How can i find the best title or escrow company for my virtual wholesaling?
2) If the buyer wants to visit the property for inspection, how can i help him do him?
please guide
Hi there!
Great questions! Let’s break these down:
Finding the Best Title/Escrow Company for Virtual Wholesaling:
Look for an investor-friendly title or escrow company that specializes in assignments and double closings. You can:
Network online through real estate groups on Facebook, BiggerPockets, or local REIAs (Real Estate Investor Associations).
Ask cash buyers or other wholesalers in the market for recommendations.
Use Google reviews or call local title companies to inquire about their experience with virtual closings and wholesaling.
Helping the Buyer with Property Inspections:
Since you’re wholesaling virtually, you can coordinate a local real estate agent or property manager to meet the buyer at the property. Alternatively:
Hire a local runner or inspector to assist with access.
Contact the seller or current tenant (if applicable) to coordinate with the buyer.
Hope this helps you get started smoothly! 🎉
@@RealEstateSkills thank you soo much
So the assignment contract won’t have how much the cash buyer is purchasing? That’s why we send a copy of the purchase agreement? Because we give the seller Our price on the purchase agreement and the cash buyer won’t get the full total in one agreement that includes our assignment fee?
So you include the ARV/rehab and total amount via email. No assignment fee is disclosed until the assignment of contract is what I’m trying to say
are the dates in Inspection Contingency 8a and 8b typically the same in a traditional wholesale deal?
Hi Anthony,
Great question! While dates for Inspection Contingency 8a and 8b can sometimes align, they don’t necessarily have to be the same. 8a typically covers the buyer’s inspection period, while 8b relates to negotiations after the inspection. It’s common to set a shorter period for 8b to allow final decisions or renegotiations, but it ultimately depends on the terms you negotiate.
Hope this helps!🏡
Is a Corporation deed marketable?
Hi there!
Yes, a deed held by a corporation can be marketable, just like an individual’s deed. However, the title company will ensure the corporation has the proper authority to sell the property. This often requires corporate resolutions or proof of authority from the company’s officers.
If you're wholesaling, it’s important to work with an investor-friendly title company to handle these details smoothly.
Hope this helps! 💙
So after my 10k fee, if the MAO is 98350, how much do I assign the property to the buyer for?
Great question!
The Maximum Allowable Offer (MAO) is the total amount you can offer the seller, including your desired profit or assignment fee.
So, if your MAO is $98,350, that amount should already account for your assignment fee. If your goal is a $10,000 assignment fee, you would offer the seller less than the $98,350 to leave room for your payment as a wholesaler. The general MAO formula is:
ARV - Fixed Costs (closing fees, holding costs, taxes, etc.) - Repair Costs - Wholesale Fee = MAO
For example:
If your MAO is $98,350 and you want a $10,000 fee, your offer to the seller would be $88,350.
Then, you would assign the contract to the buyer for $98,350, which includes your $10,000 fee.
This ensures you are staying within your MAO while factoring in your profit.
Be sure you are accurate as possible when calculating the ARV and MAO as these will be the most important numbers you need to make sure it's a worthwhile investment for your end buyer as well as gaining a profitable wholesale fee.
For more, check out our blog at: www.realestateskills.com/blog/assignment-fee
Hope this helps!💙
when using transactional funding to close a deal, what changes contract wise?
Hi Gabe!
When using transactional funding to close a wholesale deal, there are two key transactions:
A-to-B Transaction: A purchase agreement between you (the wholesaler) and the seller (A), funded by transactional financing.
B-to-C Transaction: An assignment contract or second purchase agreement between you and the end buyer (C), who purchases the property at a higher price.
Key changes include:
Timing: Both transactions must close the same day.
Funding Agreement: You’ll sign a transactional funding agreement with the lender to ensure repayment from the B-to-C sale.
Double Closing Fees: You may incur fees for both closings.
For more on this, visit:
www.realestateskills.com/blog/assignment-of-contract
How we gonna get our payment from seller or lender ?
Hey @nossatex1205, thanks for your question! We typically get paid by the title company or escrow company, which is where the buyer or their lender sends the funds to purchase the wholesale property.
In some cases, we may received our wholesale fee directly from the cash buyer. It depends on how we structure the wholesale deal.
Let us know if you have any additional questions about wholesale real estate contracts! Happy investing! :)
thank you so much for all the information. I downloaded the contracts, but they don't look the same.
Hey @sharonadruyan6049!
Thanks for tuning in and you're very welcome! We appreciate your support. Did you use this link to download the wholesale contracts? www.realestateskills.com/contracts-yto?el=htfowrec
What about the contracts you downloaded don't look the same? We just TRIPLE checked and they are exactly the same as in the video!
We'll make sure you get the right contracts, one way or another!
@@RealEstateSkills thanks for your response, the first one I got from your emails I think. but I downloaded it again from the link you provided and it is the same. I appreciate you and the information you provide, it is very helpful.
Glad you got it! Great to hear it was helpful!
can i edit the contract to say that the earnest money will be paid at the end of my 10 day inspection ?
Hi there!
Yes, you can modify the contract to state that the earnest money deposit (EMD) will be paid at the end of your 10-day inspection period. This can be beneficial as it gives you time to complete due diligence before committing funds.
To do this, you would simply add a clause or modify the earnest money section to specify that the EMD will be due after the inspection period is over. Be sure to clarify this with the seller and ensure it's written clearly in the contract, so both parties agree.
For more on contract negotiations and the inspection process, you can visit: www.realestateskills.com/blog/wholesale-real-estate-contract
Hope this helps!💙
Hey thanks man i really appreciate you responding to me so quickly!
do you have any videos explaining the next steps after getting an OFF MARKET house under contract? I've been a little confused about working with a title company.
i heard i have to open an escrow with the title company right after? what if the EMD won't get paid until the end of inspection, do i not open escrow? and are there other fees when doing it this way instead of like when you go through an agent for an ON market deal?
thanks again in advance!
This is contract is nationwide correct? It is allowed to be used in Atlanta GA?
Hi Edgar!
Great question! Yes, most assignment contracts used in wholesaling are generally applicable nationwide, including in Atlanta, GA. However, it's crucial to ensure your contract complies with state-specific laws. In Georgia, wholesaling is allowed, but you’ll want to check that the assignment of contract is clear and transparent, especially when dealing with real estate agents and closing attorneys.
To be safe, consider having your contract reviewed by a real estate attorney familiar with Georgia laws to ensure it meets any state or local regulations.
Hope this helps!💙