Tools That Save You Time And Make You Money

Module 4: Tools
Tools That Save You Time And Make You Money

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7 Responses to “Tools That Save You Time And Make You Money”

  1. Flossie Harison Reply

    Hi Patrick,

    I’ll enjoyed this topic, but I have a question. How much can your fee be for wholesaling property?.

    Flossie

    • Patrick Riddle Reply

      Your fee is whatever the difference is between what you have a property under contract for and what your buyer is willing to pay. There isn’t any minimum or limit to what your fee can be.

      On my last few wholesale deals, I’ve averaged around a $7,500 fee.

      – Patrick

  2. Vanzella Williams Reply

    Hi Patrick,

    I am enjoying these modules and I am learning pertinent infortmation.

    When there is not enough equity for a wholsale deal. Would it be possible to turn this deal into a Lease to Own deal?

    Thamk You
    Van Williams

    • Patrick Riddle Reply

      Hey Vanzella, it depends on what your criteria is for evaluating a deal.

      Personally, I look for the same % discount on a deal whether my exit strategy is to wholesale, fix and flip, lease option, etc.

      – Patrick

  3. Nova Holness Reply

    Thanks for the questionnaires.
    Now you have been talking mostly about talking and negotiating with owners.
    This past week I have been finding properties, but the sellers were not the owners, they were investors. My question is …can I still get this property under contract even though I’m not actually dealing with the owner? This has been my dilemma all week.
    Please advise.
    Thank you.

    • Patrick Riddle Reply

      You can only get a property under contract with an owner.

      If another investor already has a contract on the property, you could potentially bring in the buyer and “co-wholesale” the deal with the investor.

      – Patrick

  4. DeVere Bunke Reply

    Good information Patrick on business cards, what to say and how to say it to sellers. Thanks for providing the two questionnaire forms as well.

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