Wholesaling Thru A Real Estate Agent.
I guess i should start off by asking if this is at all possible. If so, are there any differences that i should be aware of. I know that he/she will still require his/her commision but will i still be able to use a option or purchase agreement?. I have been having trouble locating properties and i was thinking that an agent would be an easier way to go. Any comment would be greatly appreciated.
Hi, Detroit Boss
I buy and sell property in the Detroit Area. I work with r.e. agents that understand what an investor wants and looks for in the property. I have been working with them for years and they know what I like and don't . I tell them what price range I want to work with and they find the houses.
It works this way they know I can close fast and they want the commission checks even if small on the front end,. they will also find buyers for the props. I just purchase. It becomes a win - win- win for everybody.
Working with r.e. agents for your wholesale props. is great . You just have to find one or two. You can call r.e. companies and ask for the person who handles investment property.
When you find one keep them happy in between the deals with lunch or something like that. so that they come back to you with the very good deals!! You can pm me if you
have any questions.
ant, what about the "option" Detroit" was asking about ? As of today the agents I approach do not want to talk "options". I do, if I'M reading you right, what you do. This one agent finds the homes that "I'VE" over-looked (the HUD list) and brings them to my attention.
Has anybody worked with a willing agent in regards to their commission on an "option" transaction ? And how was "it" structured? It is something "I CAN SEE" doing, ..it makes sense for a seller who "listed" the home and has had no action and the listing period is about run it's course..I could see the "agent" being open to this .
Would like to hear any "feed back" that is out there..
regards,...mcldavid
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Why are the agents so wiling to help?
I'm guessing because they are getting two checks out of the deal. One from you're purchase and one from your sale.
So you take hard money to make the purchase?
Does the realtor expect you to use them for the resale?
When you buy through a realtor, what LTV are you getting?
I read about wholesaling through a realtor, but I'm a little nervous. That and it seems easier to market for sellers myself. But if it works, you're making money, and "everybody's happy" maybe I should look into this....
JB
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