Have you ever come across a lead or a seller that wants to sell their property in a state that you’ve never been to in a city you don’t know anything about, but you know, you have a good deal
I’ve been working with a real estate agent and a wholesaler that have a deal. And we’re trying to find the buyer. What happened in this situation is this new wholesaler needed to sell his deal. So I helped him find an agent that had buyers, the agent is really awesome. She went and went to the property and said, Hey, I’m gonna go check it out and see if any of my buyers are interested. And I just got off a phone call with her that we’re going to listen to right now. And she let me know what’s going on with the house. So look, if you are investing you don’t know about a city or a state or about real estate in the area. But you can find relationships and network with people. That’s the best way to get deals done. Leverage the experts in the area, leverage the agents, they want to help check out this conversation. See how awesome agents are to work with. dive right in?
I was just touching these earlier. I just wanted to let you guys know, since there’s no water on the street, that’s primarily the reason why the numbers don’t work. Otherwise, it’s only seasonal water. Yeah, yeah. So it means science, like when I had gotten like six of them, and for them, 1234 of them were on the same street. And the street needed a water main but the water main costs $100,000 Oh my god. So it made sense when we were doing for Yeah, but in this situation like it doesn’t it just it didn’t really matter. Yeah.
So you’re saying your buyers, it just would not be a good investment for them? Even the fix and flip? Sure. There’s not a year round water over there. Yeah. Yeah, exactly. So they’d have to navigate doing. I don’t I don’t even know how you deal with not having your own water.
Yeah. So to tie in over there, because the law is so little. And you can’t really put a well, since there’s septic and a lot soil. I mean, there’s really no way to do that. To tie in to year round water. But the Water Corporation doesn’t have a mean a water mean on that street. Okay, so, and I noticed on MLS, it said like, the somebody’s paid the $4,000. And there’s only 1000 left. That’s due in September to tie in. But there’s nowhere to tie in. There’s no watermain on that road. So whoever buys that property is gonna have to figure out who’s gonna pay for water mean.
So, so you’re saying it’s pretty much just a bad deal, then? Yes. Because you’d have to you’d, you’d be coming into more issues and more problems.
Yes. So there’s not year round water. There’s no year round rudder. So as a seasonal property, those numbers don’t make sense.
Yeah, no, that makes sense. So they’re trying to sell it not as a seasonal property when it really is.
It really is a seasonal property. Yes. And I did. So I have some people over at the water, the Clark shores Water Corporation. Yeah. And they are the ones who organize the planning and the development of what streets are seasonal and which streets have water mains, and that, you know, if a if a street wants to, if they want to do a water mean, somebody, my buyer paid for it on another street in that community, where we have, you know, four properties, but for just one property. I mean, I don’t really know of anybody who’s going to want to pay 100,000 watermain for for one property.
So what do you think your would make sense? Because we’re obviously going to go back and negotiate with the agent. What do you think it would make sense for knowing now we know this information?
So well, Tyler, who I’ve spoken to said that he just completed the paperwork for another buyer. Oh,
he did. Okay, well, that buyer must not know.
You want to know, the end the money was paid, the earnest money was paid. So I just assumed he had another buyer. Okay.
Well, that’s probably the best case scenario. Just, I mean, that’s unfortunate. So is are you like a 100%? Sure about that. Because obviously, that buyer probably would want to know, they just want to buy a property that’s not worth what he thinks it is. Right?
Right, right. I mean, it’s a little deceiving, to be honest. And I know it’s not your fault at all whatsoever. Yeah. Who put it in MLS that there is water at the street and the buyer just needs to be responsible for connecting the water up the street, the house and it’s not even correct, because there is no water at this. There’s no meat, no meat at all. So I’m not sure where that information came from.
What happens if the buyer buys it with that expectation then finds out later? Is the agent liable? Like, what’s like, is that? Because I would hate to buy something like that, and then, you know, have this happen where it’s like, Dude, I just bought a house, it’s not even worth what I you know what they told me it was because of this issue.
I mean, no. And that’s the thing. I mean, I would imagine it’s kind of on the agent, if she puts in MLS that the water is tied in. However, it is an ongoing thing and Clark shores that they’re doing very slowly, they plan to convert more streets over to, like year round and have more water mains installed, but are put in. But the thing is, who’s going to pay for that?
Yeah, so it has to be the people that live in the homes. Is that what you’re saying?
Yeah, I mean, I suppose. Yeah. Some people might not want to pay for it. The other day, some people on the street may not. Yeah. Or need you around the water. Do you have private wells? It’s a lots are a little bit bigger. Right. But, you know, I don’t know, I just wanted to make sure that you guys are aware.
Yeah, I really, I really appreciate you doing that for us. Because you know, you did a lot of work, I will call them and let them know. And you know, obviously we want to be transparent, you know that the buyer can make the decision that they want. But thanks for taking your time to go out there. I really appreciate it. Obviously, if we have anything else, you’re gonna be the first one we call.
Okay, awesome. Thank you so much. And if for any reason, like you said, buyer doesn’t work out. It’s not something like completely off the table. It’s just off the table at 190 or even one.
Of course, what would you have an idea of where where it would make sense if you know this buyer backs out?
May be a buck? 20 Maybe 25?
Max? Yeah. So drop drops down quite a bit. Okay.
Right. Yeah. Just because of the water main thing. Okay. No,
no, no, it makes sense. To, you
know, be the bearer of bad news. But I did want to just let you know, no, I
really appreciate you saying that, especially like, if I was buying it. I didn’t know that. So I’ll let Tyler know, and then he can let him know. And you know, that the Gulf with that information they have
now is highly the owner, I can’t know. So he’s the one that has the contract with the agent. And he’s just wholesaling his contract for, you know, to the buyer that he has.
Got it. Got it. Got it. Okay.
Well, thank you, Sarah. Appreciate it. So right, there was a conversation with an agent that went above and beyond to help us wholesale a deal, she originally thought that the house was going to be worth a lot more. But as she dug deeper, she found that it wasn’t. And you know, I was helping other wholesalers, one of his first deals, and he said he found a buyer, but I’m sure they don’t know about the situation. So we’re gonna definitely let him know. You know, not everything, unfortunately, is disclosed on the MLS. I don’t know 100% I believe everybody.
But you know, you obviously got to trust and you got to verify, right? You can’t just always trust so we’re going to find out if that’s true. But working with real estate agents is huge. Everybody, especially if you don’t live in the area. This is in Maine, and I don’t live there. So or Massachusetts, I can’t remember if you don’t live in an area, definitely leverage the agents in the area and experts so you don’t have to worry about you know, trying to be the expert and figure everything out yourself. So work with agents and if you haven’t, you learned how to work with agents just make some phone calls, start networking, everybody wants to help you out. Life is full of abundance. Okay, I’m telling you stop having a scarcity mentality. Like I used to have I used to do, like think everybody was my competition. But that’s not true. I’m in front of a house right now. That’s not even mine. I’m networked with this guy. I was I was knocking doors and I’m shooting this film. It’s pretty sick.
So talk to everybody, you’re gonna be able to find deals guaranteed, and follow me for more content like this.