저자: Kevin · 외국인
요약 보기
중개사 Kevin이 도매(wholesale) 거래에서 매도인을 속이려던 사례를 소개함. 도매업자가 45만달러 계약 후 가격을 10만달러 인하 압박하고 빠른 잔금 처리를 노린 점을 비판. Kevin은 직접 49만9천달러 수준 매입 조건으로 계약하고 2만달러 비환불 계약금을 걸어 공정하게 처리했다고 설명. 도매 자체는 공정하게 하면 문제없다는 입장이며 본인의 13개 도시 대면 강연을 홍보함.
다듬은 글
Today I'm going to show you what I consider an unethical wholesaler and how that wholesaler tried to scam someone who is now a client of mine. There will be an unexpected plot twist, but first, let me quickly mention that I'll be in New York for the "I'm Over Tour". So be sure to check me out for some awesome in-person mentoring, and no, there won't be any upsells.
It's not like a sales webinar. It is seriously an understanding and investment in real estate in small, personalized groups. Now, just so you know, I'm a licensed real estate agent . I've been doing this for over 10 years and I've dealt with wholesalers practically my entire career. And if you don't know what wholesale is, let me give you a quick little summary of what it is.
The ideal wholesale scenario is that someone comes along and, say, buys a house or gets a contract for a house worth , say, $450,000. And the house will really be worth $600,000 after some improvements are made. Well, now the wholesaler could try to market that $450,000 contract, sell it to someone for, say, $500,000 and keep the difference as what's called an allocation fee.
That could be $50,000. However, there is nothing inherently wrong with that. Typically, the wholesaler's argument is: "Hey, you know what? You don't have to deal with anything. We'll remove all the junk from the property for you. We'll clear it completely. You don't have to worry about real estate agents, open houses, showings, or any of that." I mean, frankly, the wholesaler's usual argument is correct.
Who wants to walk past a house that's full of this kind of garbage? Now, in general, there's nothing really wrong with this style of wholesale. However, the way this deal became corrupt will show you an example of an unethical version of wholesale, in my opinion, and then what I did to end it with a small plot twist.
So stay tuned. When I first walked past this property, it was on the market for $509,000 and I thought it was a good deal. While I was here, I ended up making a video about asbestos acoustic ceilings, which is still available. You can take a look, but I decided to pass on the deal. In fact, not only did I decide to pass on the deal, but I posted on Instagram that I was passing on it because I thought it would be too expensive to fix.
Now, a few days after I rejected the deal, I ended up receiving a text message. Please call me. I am the true owner of the property. Please call only from this number or I probably won't answer. I thought, okay. Well, I don't usually respond to things like that because it seems suspicious or weird or whatever , but I thought, uh, I'd better call him.
To make a long story short, the call with him ended up at his house and we talked about what's going on with this deal. He showed me a contract from RBP Inc., who, if you Google them, apparently sell educational products about real estate and turnkey real estate investment services. Yes, look, I could sell you a real estate investment course that's really great and gives you all my experience from the last 10 years in the business and a real estate agent course, but I don't offer to invest your money, and I don't make any additional sales.
I try to keep things very clear, and I help you as much as I can, especially in our private live streams . But this seemed to be another level, where they actually worked with people to try to find wholesale deals, and sign contracts with people, only to then turn them around and sell them to other investors.
What was really interesting and a little suspicious about the contract is that the contract itself was two pages long for $450,000, which allowed the wholesaler to have the property secured and allowed him to hire an agent to put it on the multiple listing service and sell it to someone else. And I was like, "Wait a minute.
That's very suspicious." So, if they're going to put it on the multiple listing service , why don't they put it on themselves and just give you the extra money they make? Because the bottom line is that, even though the houses look like this, you can get cash buyers all day long in the MLS. I mean, I'm an investor.
I came to the deal because I was in the MLS. I didn't care that all this garbage was here. Now , although that inherently seems a bit suspicious, strange, and possibly unethical, let's just say it's fair play. Did you know? If they want to sell it directly wholesale and basically insure it under a $450,000 contract and then sell it to someone like me who sees it for $490, fine.
Whatever. They want to do it, go ahead. But that's not exactly what happened either. You see, when I met with the seller, by the way, he not only offered me all the contracts and documentation, but he showed me the safe he cut open, which the agents put in this property without his permission. But then he told me that the wholesalers demanded after 7 days that he lower the agreed offer price by another $100,000.
So they could buy this house for 350,000. So, on the one hand, they were trying to get it for 350,000, violating the price of the original agreement. On the other hand, the agents who listed this property working for this wholesaler indicate that they have multiple offers for 480, 490, 500, or whatever in that range, and are looking for a very quick closing.
A really quick closing is super important for this deal to go through, because it's a very classic wholesale tactic. If you can close two trusts at the same time, boom, you never had to own the property and all you get is your allocation fee. Revenue. Awesome , right? Now, when the seller discovered that this was happening, that's when he cut open the safe.
But what he also did is what any potential seller of a property to remodel "as is " should really do. He contacted as many real estate agents as he could to try to find out what the fair market value of the property would be. I was the fourth broker he spoke to, and he only spoke to me because people saw my car outside and sent him a picture saying, "Oh, who is that real estate agent at your house?" That's why he ended up calling me.
The advice he received was that, even in the condition the house was in, he could probably sell it "as is" for $499,000 without any problem. And that's more or less consistent with what was happening when I was on the market. When I sat down with him, I went a step further and said, "Look, we could sell it 'as is' for 499, maybe we'll get more, maybe we'll get a little less.
Or, you can give me $20,000 to $25,000; I'll spend all of that renovating the property at no cost to you, and then we'll put it on the market for, say, 540 or 550. You'll pocket the difference, which is probably two to one, meaning you'll make double the money you invested, and he could benefit from that." And then our conversation evolved after I gave him all these options, and he suggested, "Well, Kevin, why don't you buy it?" I really don't care if someone gets a good deal.
"And I thought, ' Oh, that's great. That's amazing. Of course, I'll buy it.'" But what's the difference between what I did and what the other wholesaler did? In my opinion, it's an ethical version versus an unethical one. In other words, let's lay all our cards on the table. You could sell this house as is on the MLS.
We could make some adjustments to it. I can help you achieve that. If you want, we can also buy it as is. So what did we do? We ended up getting this house under contract. Now we have the keys and we are already working on getting offers and all the work we need to do; We eliminated all contingencies and gave him a non-refundable deposit of $20,000 to show that we mean business and that we wo n't be coming back asking for repairs later.
That's when he shook my hand, offered me a drink, and said, "Thank you. You're the kind of person I want to do business with." Let me be very clear here. I am totally in favor of wholesale trade if it is done, in my opinion, in a fair manner. I'm simply fed up with seeing people get scammed by wholesalers who come along and say one thing.
They say things like, "Oh, the MLS is bad. Real estate agents are bad. Don't put it on the market." "And then they turn it around, put it on the market, and literally do the very thing they said was wrong. And then they pocket the difference. To me, that's a scam . To me, it's a scam to come in and say, 'Let's make a deal for 450,000,' and then, after securing some buyers, lower the price by 100,000 dollars.
I mean, look, that kind of thing happens all the time. Maybe it's not really a scam to renegotiate after finding some repairs or whatever. But come on. Most of these people show up and say things like, 'Oh, yeah, yeah, yeah.'" We'll buy it as is . We'll buy it as is." They get the deal under contract and then pressure, pressure, and pressure the seller to try to close the deal and take money from people.
I 'm not a fan of that type of negotiation. I 'm not a fan of that type of wholesale trade. If I can go to someone and say, "Look, we can put it on the market for this price. I can even fix it up for you, and we can put it on the market so you make more money. Or, you know what? If you want the other option, which is for someone to just buy it as is, the way I'm going to do it is not only to offer you that final figure I told you you'd get, but I'm also going to give you a non- refundable deposit with no right of withdrawal.
Because I'm not one for cheating people and then saying 21 or 30 days later, 'Oh, sorry, I couldn't find anyone.'" The deal isn't working . Good luck with your property that you left empty for 30 days and it deteriorated even more. Oh, sorry, yes, repairs came in. He may be an experienced investor, but he had no idea it contained asbestos.
Ducks. Oh my God, what a surprise. This is so terrible." Come on, it's pure nonsense. So, wholesalers, don't be offended. If anything, you should, like anyone else interested in making money in real estate, come to one of the 13 locations where I'll be for the next 13 months teaching you about real estate investing in person.
I'll help you with wholesale. I'll even help you set up a wholesale business the way I would if I weren't a licensed real estate agent . I'll talk to you about anything you want to know, in a small group, and after these 13 locations, I'm going to take a vacation .
Comments 0