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Today I want to share a sly little wholesaling trick I learned recently from one of our fellow moguls. And this one’s all about helping you minimize the possibility of spooking your seller with that fat assignment fee you’ll be making on your next deal.
You know what I mean, right?
You’ve got someone’s $250K “problem” property under contract for only $75K, cause you did such a wiz-bang job of helping the seller understand just how big of a problem those repairs really are.
Bottom line, a savvy investor can probably get the repair done right for $50K give or take, so you know you’ve got a smoking deal on your hands. You reach out to all three of your VIP buyers, and before you know it you’ve got one chomping at the bit to give you $125K for it. And he’s happy for you to make that cool $50K, cause he’s a player and he understands how the game works… but he’s also not willing to just write you a check. You’ll have to wait till closing to get yours.
No biggie. You can wait, it’s all good.
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JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.