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QUESTION: How do you handle the earnest money deposit (EMD)?
ANSWER: In most cases, we get our buyers to put in the EMD. I talk much more about this in Agent Deal Domination.
QUESTION: Can you do double closings with agent deals?
ANSWER: Yes, in fact, I encourage it, so the agent and cash buyer never meet.
QUESTION: Which contracts do you use when working with agents?
ANSWER: We use the agent’s contracts, but add in some of our own clauses, which I teach in Agent Deal Domination.
QUESTION: How do you find real estate agents to work with?
ANSWER: One of my favorite strategies is Craigslist. I teach every method used in our business inside of Agent Deal Domination.
QUESTION: Can you do this strategy virtually?
ANSWER: Yes, we do this 100% virtually over the phone
QUESTION: Can newbies do this? Do you need experience?
ANSWER: No you don’t need experience, but you do need to learn how to talk to agents. And once you do, this strategy is actually ideal for newbies because there’s almost zero marketing costs involved.
QUESTION: If the agent has such a good deal, why don’t they just wholesale it themselves?
ANSWER: Because agents don’t think that way. They only know how to sell deals the way they were trained.
QUESTION: Don’t agents avoid working with investors?
ANSWER: Some do. Some don’t. It’s no different than when working with private sellers, i.e. some will and some won’t. It’s simply a matter of finding agents who are willing to work with you.
QUESTION: Do real estate agents know what a “deal” is?
ANSWER: Not all of them, which is why you’ll need to train them. I show you how to go about this in Agent Deal Domination.
QUESTION: Won’t the agent just cut you out of next deal if they learn of your cash buyer?
ANSWER: This is why it’s best to double close. I show you how in Agent Deal Domination. I also teach an alternative method if you’re not able to double close.
QUESTION: How do I get proof of funds?
ANSWER: You can get one by contacting a hard money lender in your area.
QUESTION: Does this strategy work with REO’s?
ANSWER: Yes. I show you how in Agent Deal Domination.
QUESTION: Do you need a cash buyers list?
ANSWER: Yes, which is why I show you how to quickly build a cash buyers list inside of Agent Deal Domination
QUESTION: How to you determine your offer?
ANSWER: We use normal wholesaling offer formulas
QUESTION: Can you use this strategy if you’re a licensed agent?
ANSWER: Yes, but you must let the agent collect both sides of the deal and you must also disclose that you’re an agent
QUESTION: Who pays commissions?
ANSWER: The seller pays all commissions
QUESTION: How much money do you need to get started?
ANSWER: None. You need effort more so than cash
QUESTION: Is this strategy for wholesaling only?
ANSWER: Yes, this strategy only works because you’re able to pay cash to the agent