have extensive buyers list...need help! - Posted by david

Posted by Ronald * Starr(in No CA) on January 30, 2002 at 15:21:55:


The book is available in bookstores. I got my copy from Amazon.com for about $16.

Good InvestingRon Starr*

have extensive buyers list…need help! - Posted by david

Posted by david on January 29, 2002 at 16:13:24:

i have created an extensive buyer’s list and now am working with a realtor to match their (the buyer’s) needs. how can i make sure i profit along with everyone else (ie the realtor and the buyer). i don’t have the money or the credit to purchase a property and then resell to one of my buyers. what can i do to maybe work something out with the realtor to make sure i get paid. any suggestions would be very helpful.

ps. i ran an ad in the paper reading “rehab/handyman special-selling properties wholesale.” that was how i created my buyers list.

thanx in advance!

Re: have extensive buyers list…need help! - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on January 29, 2002 at 22:27:47:


I agree with Suzanne. You are not thinking clearly. Properties on the MLS are available for anybody to see and make offers on. The buyers you have lined up probably all have several different agents who will call them if there is a good deal on the MLS. Mostly there won’t be very many good deals on the MLS. Thus, it will be easy to keep an eye out for them by the people to whom you hope to sell the property. You are trying to make yourself a middleperson between the buyers and the sellers. Won’t work with MLS properties. Everybody can go directly to the seller, ignoring you.

Instead, get out there hustling up deals that are not in the MLS. Find the deals that nobody knows are available. Then you have something to sell.

Before you start, however, study up on the topic. You are obviously completely ignorant of the basics of the topic. Put “flips” or “wholesale” into the search engine of this site and prepare for about 50 hours of reading. Buy the book by Bronchick and somebody else called “Flipping Properties” It is less than $20. It is a little spare, but will give you the outline of what to do.

Good InvestingRon Starr******

Re: have extensive buyers list…need help! - Posted by Suzanne

Posted by Suzanne on January 29, 2002 at 19:28:20:

  1. Get rid of the realtor, and go find the junkers yourself, and track down the owners.

  2. Have the realtor find junker houses for you. You make an official offer with the realtor. You sign a contract to purchace the house, and then you flip the junker to one of your rehabber buyers doing a double closing.

Other than that, I do not see how you can make sure the realtor will pay you. Did the realtor verbally agree to pay you? Have you asked the realtor to draw up a contract for your services? What will be interesting is to find out what the realtor says to that. I have heard some say that it is illegal to get compensated in any real estate transaction unless you have a license or have an equitable interest through a contract.

Re: have extensive buyers list…need help! - Posted by David Garcia

Posted by David Garcia on January 29, 2002 at 18:03:57:

What part of FL are you from?
I have several homes in N. Miami that I need someone to show them for me.

About your question, I can help you profit from these deals without putting a DIME out of your podcket!!

Re: have extensive buyers list…need help! - Posted by John Fl.

Posted by John Fl. on January 29, 2002 at 17:57:44:

1- Get in contac with 3 or 4 major wholesalers,have them fax you every week their properties list

2- Buy and install windfax pro software in your coputer
and imput fax and info of your buyers
3- imput 3 or 4 buyer in your system everyday, is about 40 mor 50 a months
4- Fax every week to your buyers, all properties you get every week from wholesalers

wholesalers will be glad to have you marketing their houses , just put 3% on top for you


Good luck

Re: have extensive buyers list…need help! - Posted by Al-So Cal

Posted by Al-So Cal on January 29, 2002 at 16:29:27:

You`re doing it the hard or the impossible way. Get a
license and go to work if only part time.
Anyone can run an ad and get a lot of calls. You need
a better plan!

Flipping Properties book - Posted by Rick(Atlanta)

Posted by Rick(Atlanta) on January 30, 2002 at 09:13:51:

is that book sold here? There is a course by him but it is $395. I plan to get it – but i need to do a flip first :slight_smile:

Re: have extensive buyers list…need help! - Posted by Jason

Posted by Jason on January 31, 2002 at 24:56:33:

My opinion from (not from law school but street experience).

Its illegal for a realtor to pay someone for “the transaction” but a “referral fee” or a “cost of doing / obtaining business” fee can be paid always. The term commision or "split ot commision split shud never come up between the person who refers a client and the real estate agent. The referel fee shud be mentioned on the memo of the check from the realtor to the person who found the buyer.