Click arrow below for personal Message from Tom Saylor
Are you a real estate licensee, and you’ve never done a wholesale deal but you are interested in doing this kind of work and you are good talking to other agents? Do you have a fast internet connection, a full size monitor and a PC or Mac? (hard to do this work on a phone) Does your sponsoring broker nix the idea of you doing wholesale deals (assignment deals) and won’t let you do them? If so, think about joining us as an agent and do BOTH wholesale deals and retail deals. I have experience sponsoring 119 agents in seven San Francisco Bay Area counties. High splits, no monthly fees, work from home like most agents do and I’ll assist you. And, I’ll put your listings in our MLS so they’ll show up in Redfin and Zillow so people all over the country can see your listings. Free premium signage, free webpages for your listings, and I’ll show you how to get wholesaling leads for free. (This is for IL and IN licensees only. I am a managing broker in these two states.)
Under Contract:
1. As soon as we are under contract the listing agent should report the property “UNDER CONTRACT” in their local MLS. This has the tendency to light a fire under contractors we work with and helps expedite the sales process. We show the prospective end buyer that WE ARE THE ONES WHO HAVE THE PROPERTY UNDER CONTRACT in our media package. This keeps the end buyer from trying to go around us. Sometimes if the list price is close to the wholesale price we will request that the contract price be raised a bit. It is difficult to wholesale a deal and make an assignment on a deal IF the end buyer thinks he could be better off just buying at the current listed price.
2. We will usually need lockbox access for our contractors to do their walk-throughs. When you are virtual wholesaling this is a must. In our local areas of MRED (northern IL) and NIRA (northwest IN), we use Sentrilock and ShowingTime. Outside of these areas, we prefer properties to have mechanical lockboxes. We recommend the MasterLock 5400 series lockbox, and all the contractors are familiar with them. They’re about 40 bucks, and if you are virtually wholesaling, have the listing agent make an extra key and put it on the doorknob or some other inconspicuous place behind the storm door. We’ve had a few lockboxes that were never returned to us, but I just don’t worry about it in the greater scheme of things. Inspections and walkthroughs will be by Tom Saylor or representatives, contractors, or inspection services. If properties are tenant-occupied, it is helpful if the listing agent can coordinate with the tenants. We will do our best to minimize tenant inconvenience and always be polite. If we are inspecting an occupied tenant unit and the tenant is not at home, we want someone from the listing office to accompany our people.
IMPORTANT: Advise tenants to chain or cage animals during the time our people are on the property. We will be photographing interiors, but we will be virtually staging areas for privacy and obscure photographs on walls, etc.
Everyone I work with is required to show a business card to the occupant. We value your tenants’ privacy. We will be polite.
Most contractor walkthroughs in living areas are very fast (5-15 mins), checking under sinks, asking about lights that need to be fixed, asking tenants what minor repairs need to be done, etc. This is not intrusive to the tenants. We are landlords ourselves, and we know it is important to keep tenants happy. Note: If there are difficult tenants, squatters, dopers, or people who should not be in the building, let us know beforehand. We often have to get them out after the deal closes. If buying them out is cheaper and faster than the attorney, that’s what we do. We are all street-wise. Keep us informed. If people are being evicted because of unpaid rent they usually will not be cooperative. If there are children involved, we will need to find alternative housing for them before we close. We need a solution for this BEFORE we close. We will not be part of putting kids on the street.
3. Please give us preferred lights and temperature settings. Typically, we do not change temp setting unless someone left the heat or cooling at inappropriate levels. All of us are experienced in showing properties. Sometimes a lock is troublesome, or a key is iffy. If there is a trick to entering or closing the property, let us know. We cannot leave the property until we can get it closed properly. Typically we avoid looking at properties after dark. I work with tradesman and contractors, we are not working with ordinary retail buyers. We are all experienced in buying and selling properties.
We are looking at the structure, roof, plumbing, hvac systems, electrical, etc. Usually, we do not get up on the roof, but we do scan it with binoculars. Our team will need access to the entire lot and will need to see into garages/outbuildings. (photos of outbuilding interiors will suffice.) I do not want tradesmen to have keys to your outbuildings so don’t leave keys for those areas unless it is Tom Saylor doing the inspection personally.
Thanks!
Tom Saylor
317-430-9373 call or text
877-773-4295 call or text
www.investgroup.properties
[email protected]
Get your JV Agreement and Submit Your Deal
Submit Your Deal for a Free Joint Venture Evaluation. I’ll respond quickly — usually the same day. Put this stuff in the “Wholesale Property Info ” box below, and I’ll take a look at it. What We Need: 1. Property address you want to wholesale 2. Seller price (what you think you can lock the deal up at) 3. Estimated repairs (what you think rehab, might be—give me the sq ft if you know or I will find it online) 4. Photos or video link (if available online give me the link) I can look at still photos if you upload them below. Keep file sizes less than 2mb per image. Cell phone pix ok. 5. Any info about seller motivation or timeline we need to close in. 6. Access info, vacant or occupied, cooperative tenants or not, can we put our lockbox on it? Can you show it to our contractor cash buyers? 7. Are the utilities on? What’s the parking situation? What do you see across the street from the front window of the property? 8. Is it an on-market or off-market property? 9. Were you able to do a street view (online) Yes or NO. 10. Do we know how much is owed against the property? Let me know the approx figure. ($150k, etc) 11. Can the property be delivered vacant? or what is the rent roll? mtm or lease details.
Call or text me at 877-773-4295 day or night
Your answers in the “Wholesale Property Info ” box below could look like this: 1. 323 Main St, Anytown, IL 12345 2. $165K 3. 60k 4. www.photoslink.com (or submit photos below) 5. seller wants to be out asap 6. occupied by owner, yes for lockbox 7. utilities on, parking pad offstreet, across street view ok 8. on-market 9. streetview ok 10. 65k owed 11. delivered vacant
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