Previous Law May 22, 2003 MORTGAGEE LETTER 2003-07 TO: ALL APPROVED MORTGAGEES ALL FHA ROSTER APPRAISERS SUBJECT: Prohibition of Property Flipping On May 1, 2003, the Department of Housing and Urban Development published a final rule in The Federal Register amending the mortgage insurance regulations to prevent the practice of flipping on properties that […]
Here are comprehensive objection handler scripts for both motivated sellers and cash buyers, designed to build trust and move the conversation forward. Objection Handler Script: Motivated Sellers Goal: Listen, empathize, reframe, and provide a solution. Objection 1: “I have a real estate agent.” / “I’m planning to list.” Response: “That’s a great option if you have […]
Why “Reverse Wholesaling” (or find cash buyers first and then the properties) is the best way to do wholesaling Let’s break down why “Reverse Wholesaling”—finding cash buyers first and then sourcing properties for them—is considered by many to be the most powerful and efficient way to wholesale. What is Reverse Wholesaling? Traditional wholesaling follows this path: Find Motivated […]
Here is a comprehensive Pro Buyer Purchase and Sale Agreement designed specifically for a real estate wholesaler to use when selling the contract to a cash buyer. This agreement is structured to protect the wholesaler (Assignor) and clearly define the relationship with the end-buyer (Assignee). ASSIGNMENT OF PURCHASE AND SALE AGREEMENT WITH EARNEST MONEY DEPOSIT Disclaimer: This is […]
Below is a template for an Assignment of Real Estate Purchase and Sale Agreement. CRITICAL DISCLAIMER: REISkills.com is not an attorney. This is a general template for educational purposes only and may not be suitable for your specific situation or compliant with your state’s laws. Real estate contracts have significant legal and financial consequences. You MUST consult with […]
Wholesaling Real Estate Glossary A ARV (After Repair Value): The estimated fair market value of a property after all repairs and renovations are completed. This is the most important number for determining a property’s potential profit. Assignment of Contract: The primary method used in wholesaling. The wholesaler (the “assignor”) transfers their rights and obligations of the purchase […]
Script – Cash Buyer Phone Script for Wholesaling Goal of the Call: To qualify the investor, add them to your buyer list, and/or present a specific property. Pre-Call Preparation: Have the Property Details Sheet ready (if calling about a specific deal). Have your Cash Buyer Spreadsheet/CRM open to log their criteria. Be ready to text or email information immediately. The […]
Script – Motivated Seller Phone Script for Wholesaling Goal of the Call: To qualify the seller, build trust, and schedule a property viewing. Pre-Call Preparation: Have your Maximum Allowable Offer (MAO) formula ready. Have a notepad or CRM open to log details. Smile! It changes your tone and makes you sound more friendly and confident. The Script You: “Hi, […]
Your Ultimate Wholesaling Action Plan Phase 1: Foundation & Education (Weeks 1-2) Goal: Build your knowledge base and set up your business structure. Complete Core Education: Read a comprehensive guide (like from REISkills.com!) or take a beginner course. Date Completed: __/__/____ Understand Your Market Laws: Research contract assignment vs. double closing laws in your state. Date Completed: __/__/____ Choose a Business Name […]
Why Wholesaling? From the Desk of Brian Gibbons, Real Estate Trainer www.REISkills.com Hello, future investor, If you’re reading this, you’ve felt the attraction. You’ve seen the TV shows, you know about the bargains, and you’re ready to claim your piece of the American Dream through real estate. That excitement is your fuel—but I’m here to […]