Hi, I am just getting into real estate wholesale and am in the research portion of it all. I’ve been reading a ton and watching very informative videos. Everyone says that a wholesaler should have a title company that is investor friendly and works quickly. They fail to really say how you find the company. So how did you wholesalers find your title company? Meet up groups? Online? I’d like to start getting my ducks in a row so that I can begin making money, but first I need the right people on my team. How did you do it?
Hey Joelmoore, I hope ur not one of those types that over analizes everything and never get into first gear.
Your main priority is finding deals. Find some fixers at 30-40% of ARV and advertise on Craig’s List “Insane deals at 70% of Market Value”, you will soon have buyers and title companies up the yang.
I had always let my buyers choose their own Title company, a few times I wud get a call from them and I wud have to explain how the assignment works and it still went smoothly.
Now that I’ve completed a lot of deals my buyers have narrowed into less than a half dozen and they always use a certain local Title company, The main title girl and I have become friends and I have send her a few hundred buks bonus when she went out of her way to help me close a deal when my reg buyer crapped out.
So finding buyers and a good Title company seems to be a natural progression of finding the deals.
Now stay focused. find deals, find deals, find deals.
If you are doing an assignment contract, any title company will work just fine.
But, if you are doing a double close, however, you need to find a title company that is willing to complete Transaction A before getting paid the money in Transaction B. Not all are willing to take that “risk.”
How do you find them? Ask other friendly area wholesalers who they use. You could physically go to their offices and explain the double close process and ask them if they would be willing to handle that type of closing and what are their requirements to do so.