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Wholesale Real Estate VIP Club

by: Mark Evans DM

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Q. Does any training come with my VIP Club membership?

A. As of right now, the VIP Club is where we bring deals to the table only, signed, sealed and delivered on a silver platter...we are working on a training package, but that’s not included as of yet. I would recommend online networking groups and forums in order to build a list of buyers across the country so that you have "go to" people in place for when deals come out if they aren't ones you want to purchase yourself. You can then sell our deals to those people and make a fee for yourself. Meaning, if our assignment fee is $5k, you tell your buyers it’s $7k (or whatever amount you choose) and keep the $2k for yourself.


Q. Do the VIP Club and Reverse Real Estate System go together?

A. Our VIP Club and Reverse Real Estate System, depending on the deal, could work very well in tandem together. For instance, look at this deal we did awhile back:

http://www.wholesalerealestatedeals.com/5062DobyLn3.html

This was a deal where our buyer got the deed and simply took over possession/control of the property (no financing involved!). That's great...but a buyer is needed before you can make any money with it. So, this is how you can use the VIP Club AND the Reverse Real Estate System together. Go here to learn more about our Reverse System: http://www.reverserealestate.com/

Also, there are various ways to leverage other investors (those you find or those in our network) to make money on our deals regardless of whether or not they're cash deals or ones like we described above. Once you're a member, we share those "ways" with you and give you the exact tools and websites, etc. in order to make that happen. Success is built through building a list of buyers...both retail and investors.


Q. Typically what do you come across? Any apartment buildings?

A. Our deals come in all shapes and sizes, so it's hard to narrow down other than to say almost all of them will be single family homes...some will be cash deals, some will be subject to, where you get the deed. As to apartment buildings, we generally won't look at anything over 4-units, simply because we don't have a market for them with our current investors. This is the same reason we are not investing in any commercial property at this time either.


Q. How much money will I need to do a deal with you?

A. How much you will need depends on the deal. All of our properties that we offer are already under contract...we simply assign those contracts to our investors for a fee. That fee will typically range anywhere from $2,000 to $4,900. For our "subject to" deals, the assignment fee is basically all the cash you would need (excluding any rehab and closing costs involved), but if you buy a deal that needs to be financed as it was a cash-only deal, then there will be some more expenses involved there, obviously, and your lender can advise you on what they will be.


Q. How do I make money with your deals?

A. It will be your responsibility to come up with your exit strategy on any given deal we may do with you. Our commitment to you is to provide the deal…it will be up to you to determine how you can best make money with it. However, we will always give you a few ideas:

1. keep it and rent it, on a rent to own or just a straight rental
2. assign it to another investor for a fee
3. fix it up and retail it out


Q. How long do I have to make a decision on buying a deal?

A. As long as you like, but our deals do go quickly, so just know that a lot of them may be gone by the time you are ready to move on them if you don’t act fast. Sometimes they go within a few hours and sometimes it takes longer...we just never know.


Q. How do I know that I’m buying what I’m looking at?

A. We provide current photographs for you to see the property. To verify the validity of them, you can find an unbiased property manager in the area and ask him to go by and take a look as well as provide pictures of his own to you so that you can compare. Also, go to http://www.markevansdm.com/recommendations/ and search the public records for the county/state the property is located in and do an address search. This is the type of research that you’ll do for your due diligence.


Q. How can I buy a deal that’s out of my area? How can I do my due diligence?

A. We present deals that are in all parts of the country, and many of our clients are investors who see the profit potential in investing outside of their immediate area. We help them to be able to do that by providing tools to help with research, like you can see here on our webpage at: http://www.markevansdm.com/recommendations/ We may end up coming across a deal that's in your area, but that's never guaranteed...it just depends, as we have leads coming in to us from all over the U.S. We pick the best ones and present them, regardless of where they’re located.

So, how it works is that 1) we present a deal to our list 2) they call to ask any questions they have and then do their due diligence 3) they decide to purchase the property by going to PayPal and depositing the assignment fee 4) they are provided with all the paperwork needed as well as guidance on completing the transaction, whether it is a cash sale or a subject to deal. Normally, either way, marketing will need done to find either a rent to own buyer or another investor buyer. No matter which kind of deal yours is, we help with it all, from start to finish. Our goal is to have you “earn while you learn” and not have you completely fend for yourself – we won’t do it for you, but we will give you the tools you need to do it yourself successfully.


Q. How do I secure my interest in the property?

A. If it’s a cash deal, that will be taken care of when you close with the title company and/or closing attorney because the deed will then be transferred to your name. In the meantime, the seller is contractually bound to sell the property only to you, so, as long as you close it before the contract termination date, you’re protected. If it gets close to that date, and you’re still waiting on financing to get taken care of, you may want to complete an extension addendum and push back the contract termination date (the seller will have to sign off on this, of course). If it was an owner-financed deal (subject to), we recommend clouding the title with a short Memo Title form, which you can get a copy of by searching online or contacting your local real estate attorney.


Q. Do we have to qualify for bank financing in order to buy from you?

A. Not necessarily…it will depend on how the deal is structured. If it’s an owner-financed deal (subject to) and only requires a small amount of cash down and you have that available, then no. If it’s a cash-only deal and you’ve got the cash available to spend, then no. If you don’t have that much cash on-hand to close it, though, you may need to borrow it from a bank unless you have other funding sources.


Q. If I don’t have any credit, how can I buy a property?

A. You don’t need to have credit to buy from us. If financing isn’t an option for you, you will want to focus on owner-financed deals where you only have to come up with a small amount of cash down or on deeply-discounted properties that you could assign right away to someone else without ever having to take title to them yourself. In order to be able to do this second option anywhere in the country, you need to be building your buyer’s list now of nationwide investors. The quickest way I know of to do this is to spend time on the internet in real estate investing chat rooms and on message boards, etc. and get your name out there. Let people know what you do and what you can bring them. Setup connections with folks in all corners of the U.S. so that when a deal comes around, you’ll already have people to call to assign it to and collect your fee! Please refer to the Online Networking FAQ page for more details (coming soon!).


Q. But, if I don’t have the money to pay your assignment fee, how can I do deals with you?

A. Keep in mind that assignment fees can be paid via "OPM" (other people's money). Do you have a buyers' list of other investors that you work with that do have cash access? We provide the deals, signed/sealed/delivered, and you turn it over to (or partner with) other investors who have the cash to pay the assignment fee and then you make a fee from them for providing the deal. The profit potentials are awesome, regardless of whether or not the deal is a cash deal or a terms deal, so any investor would be happy to lend his cash to reap these rewards.

In order to make this happen, what we recommend is that you participate in online networking to build a buyers' list of other investors all around the country so that you can take the deals we present to your list and see if you "know" someone who would like to buy in that area...and you can get paid for bringing that deal to them. See the “Online Networking” FAQ page for how to start building your buyers’ list of investors.

The VIP Club was started to show people how to broaden their horizons in order to not limit themselves to only making money where they happen to live. The sky really is the limit the more you immerse yourself in networking with other investors around the country. The more buyers you have on-hand through your online marketing efforts, the more money you’ll make.

We would hate to see anyone pass up the opportunity to be a part of our VIP Club just because they think they don't have access to cash if it's not physically in their own bank account. This business is about leveraging others for the sake of everyone winning, so keep that in mind when looking at our deals.

If not having cash in the bank is what’s holding you back, see the FAQ page named “No Cash?” for more ideas on how to “create” cash so that you can start doing deals now.


Q. What if I buy a deal, and it’s not what I thought it was?

A. You need to do your due diligence, verify everything we’ve said and make sure it’s what we’ve told you, etc. Do not send money until you are comfortable with the deal because once a payment is received, it is non-refundable. We don’t ever want anyone to do a deal with us unless they are 100% comfortable. Keep in mind that any property we present to you is already under contract with us, and we’re expected to perform on it if someone else doesn’t. So, it wouldn’t really make any sense for us to misrepresent the deal to you if we’re going to have to end up closing it ourselves.

We put out good deals and work only with serious buyers, so we do not have a “I’ve got cold feet and don’t want it anymore” policy…if you put money down, you will be expected to perform unless you can show that the repairs needed exceed our quote by more than $2,000. We’re serious about helping you make money in real estate and don’t want to waste our time or yours with those kinds of issues. You’re welcome to ask questions about the deal you like, but make them relevant and concise.


Q. Do I get the tax advantages when I buy?

A. That will depend on how the deal is structured. If we buy a property “subject to” and assign it to you then, yes, you will get the tax advantages because you’ll also be getting the deed to the property. The same will be true with a cash sale, obviously. If we should happen to buy on a lease option or any another kind of structure that does not involve the deed/title transferring, then the likely answer to you receiving any tax benefits would be “no”. Please consult with an Accountant to verify this as we are not licensed to give tax advice.


Q. What contracts do I use? Will you provide them?

A. The only contract you will need to do a deal with us is the assignment form, and we will prepare that for you once you’ve deposited the assignment fee with us. At that time, we’ll send that to you for signature, along with a copy of the original contract so that you can verify that all the terms and conditions are what we’ve discussed. You’ll then sign the assignment form and fax/email it back to us ASAP. At that point, the paperwork we need is done…we keep it very simple. From there, we’ll help you with getting the closing set up and done, regardless of what type of deal it is.


Q. So, every month until the property is sold, I will have various expenses and payments (mortgage, property tax, utilities, etc.), right?

A. Not necessarily...every deal will be different...some payments don’t start immediately, so you may not have any related expenses. Generally speaking, your first payment won't be due for 4-6 weeks after your purchase with us, whether you need to get a new loan or whether it's a deal where you just take over the payments via subject to. That is an adequate amount of time to be marketing it for resale so that it can be generating income by the time your first payment is due...whether you resell it to a rent to own tenant/buyer or resell it to another investor, depending on what your exit strategy is. In the meantime, though, yes, you may incur utility and maintenance expenses.


Q. Are the properties you offer free and clear from any mortgages or liens, etc.?

A. The properties may very well have mortgages against them, but that’s not anything “bad”. We do a title search, though, to be sure that there are no liens, judgments or anything of that nature against them. Our deals always have a clear deed/title.


Q. Could I get into a situation where my payments and maintenance expenses are higher than the profit I make from selling?

A. We can't answer that...it depends on too many variables...how effectively did you market it to get it resold or filled with a tenant, what kind of financing and interest rate did you get, etc. Obviously, the goal with real estate investing is to make money, and we put good deals out there that do provide the ability for profit to occur, but we can't guarantee anything once we hand the deal off to you, our buyer, because we don't know what your intentions with the property are or how you will go about doing what needs done to capitalize on that opportunity.


Q. I joined the VIP Club, but I haven’t gotten any information or deals from you yet…when will I?

A. Whenever we have new deals to put out is when you'll start seeing them in your email inbox...it can be sporadic. Some weeks, we may have multiple offerings and sometimes a bit of time may go by without a new one coming out…it just depends. We’re constantly evaluating deals every day, but we're only going to release ones that have the greatest profit potential. If I look at 50 deals one week...5 of them may be great...but the 50 I look at next week may all be duds. I'm sure you'd rather we only put out only the good ones rather than just throw something out there because it's been a week since the last one...that's just not how we do business. So, if it takes us a bit longer, at times, that's ok with us because it's in your best interests.

You should have received an email that had the user name/password for you...but we do have spam trouble, sometimes, that keeps messages from getting through. If you have not received your logon information yet, but you have already joined the Club, then please submit a support ticket, and we'll get that to you asap.

To be sure you're getting all of our emails, make sure you have us on your "whitelist" as it being "ok" to receive emails from us (the two addresses to “ok” are vanessa@markevansdm.com and Mark@MarkEvansDM.com). You can go to this webpage we created to see how the main three providers set their whitelists up, which should give you an idea of what you'll need to do if you have a different email provider than the three listed on the following webpage (if you still can’t figure it out, then please call your email provider, directly, for help):
http://www.wholesalerealestatedeals.com/whitelist.html
(also, see the very bottom of this page for more info
as to why emails are sometimes not received)


Q. Where can I see your inventory of properties?

A. As a member of our VIP Club, you will receive every deal we send out automatically, so you can keep track of what we have available that way. We do not keep a significant amount of "inventory" because as soon as we lock deals up, we immediately sell them, as our business strategy no longer includes holding on to properties – we pass them on as soon as we get them.


Q. Can I put my own deals out to the VIP Club members for sale?

A. Yes, provided we research the deal and feel it is one suitable for us to send out. If/When a deal sells due to our marketing for you, the profits will be split 50/50.

A “Deal Information Sheet” must be completed for each deal before we can determine if it’s one we’ll send out or not (we have a duty to our members to make sure they’re only seeing good, profitable deals). Go here to print one off to submit with each of your deals: http://www.wholesalerealestatedeals.com/dealinfo.pdf


Q. How quickly, once presented, do the deals get bought by members of the club?

A. As to how quickly the deals go, that's a hard question to answer because every deal can be different...some ARE gone within hours, and some take days. How quickly they go is based on so many factors, so the best thing to do is, if a deal looks good to you, just write/call to ask if it’s still available. We'd certainly hate for you to miss out on an opportunity by assuming that someone else already got there first when that may not be the case.


Q. If I give you my deal to list with your VIP Club, will it go on the MLS?

A. No, as we are not licensed Realtors, so you wouldn't be able to "list" properties with us in the traditional sense. If you were to be a member of our VIP Club, that is one of the member perks is that we will release your deals to our group of investors as long as we approve of the deals first, but we will not advertise them on the MLS as that is a paid service.


Q. Do I have to get an inspection and/or an appraisal to you before it can go out to the VIP Club? Or is that the responsibility of the investor that we might assign it to?

A. We rarely get appraisals done...and wouldn’t ask you to either. We go off of what our contacts and the seller tell us. If there happens to be a recent appraisal, great. With all the other due diligence steps we take to evaluate our deals, we’ve found that appraisals are an expense that we can easily avoid without compromising the deal in any way.


Q. If I do have you release my deal to the VIP Club, can I still market it on my own to sell?

A. Absolutely...get it out there to as many people as you can. Obviously, if you sell it outside of the VIP Club, we do not collect 50% of the assignment fee even if we did present it to the Club…we’re only paid if one of our buyers actually buys it.


Q. If someone expresses an interest in or travels to see the property, do they have 1st right of refusal on the deal?

A. Not at all...the first person to claim a deal, by way of paying the assignment fee, gets the deal, regardless of who asked about it first or who traveled to see it, etc. Our buyers, and all successful real estate investors, are people who make quick decisions, take action and “pull the trigger”.


Q. I have a partner who I would like to bring in on most (if not all) of these deals. Is that OK? I know your site is confidential, and I appreciate having access to these deals and don’t want to misuse it.

A. Of course you can bring in a partner and share the info about these deals. We're happy to do as many deals together as work for you and your business plan. We just don’t want our deals blasted out over the internet is all, as that wouldn’t be fair to our paid members.


Q. I have deals on high-end properties…$300,000 and up. Can I bring them to you to put out to the VIP Club list?

A. Unfortunately, we just don't have much of a marketplace in our pipeline for these kinds of higher-end homes right now. We've tried to put them out there before to market with no success. Our recommendation would be to do your own online networking and marketing to find a buyer.


Q. My deal has a huge equity spread, but you wont’ present it to your list…why not?

A. Even if there's a huge spread, the LTV (loan to value) could still be high, and an investor who’s paying cash isn't going to want to pay a high LTV, regardless of the amount of equity.


Q. Can the assignment fee for your deals be reduced?

A. No. We make sure that the fee we’re charging is fair before we present it to the VIP Club. We always leave way more profit on the backend for our buyers that we receive ourselves, so we do not feel the need to reduce our fee.


Q. On the deals that you release through the VIP Club, where do I find information on these properties – like about liens, back taxes, judgments, etc.?

A. By the time the deal comes to you, we've verified clear title - or are in the process of doing so - and will not sell a deal to anyone that does not have a clear title. When the search has been completed, we will gladly share it with you so you can see for yourself. If the title comes back unclear, then we cancel the deal with our seller unless they can resolve it to our satisfaction.

As far to view information on taxes and/or most public records information, you can go to our site at: http://www.markevansdm.com/recommendations/ and click on the state the deal is in and then the county (we'll try to always give you the county to make looking it up on our site easy).


Q. What are the taxes on the house?

A. This is public information and can usually be found online. Go to http://www.markevansdm.com/recommendations/ and click on the state, then county you need. From there, you can usually do an address search to find the property you’re looking for, and the information you need will almost always be there.


Q. How do I know what county a deal is in if you don’t give me that information?

A. What you can do to find the county it's in is go to Google and type in: “county+whatever state it’s in+city name it’s in”...it usually will show up in the first few items - just read through the "blurbs" there and look for the county name. From there, go back to http://www.markevansdm.com/recommendations/ and select that county. From there, you can search their page for tax assessor information or property information, etc.


Q. If repairs are needed, how do I handle that from long distance? Do you help with that?

A. Not directly, but we would again refer you to http://www.markevansdm.com/recommendations/, which will aid you in locating people in the local area that can do repairs for you. Arranging that for you, though, is not a service that we provide.


Q. How much would a property manager charge to handle the property for me?

A. We can't answer this for sure, but…generally 6-10%. It would depend on the person you asked. Go here to find property managers that you can call: http://www.markevansdm.com/recommendations/

The types of questions you’ll want to ask are:

• Do you work with residential properties (as opposed to commercial)?
• Are you familiar with the area of town where this property is located (and then give them the street name)? If not, can you refer me to someone who is?
• Are you a handyman as well…if not, can you refer me to someone?
• How is the rental market right now?
• If I hired a property manager, what's reasonable for them to charge?
• How quickly do you respond to a tenant's request for service/repairs?
• Do you have 24-hr emergency maintenance in place?
• Can you provide referrals?


Q. How much do the utilities average? Are there any other monthly costs associated with these properties?

A. We do not always know about utilities. If the seller gives us that information or a copy of the bill, we can pass along that information to you so that you can call the utility company and ask about recent usage.


Q. The price is $40,000, including our assignment fee. How much would the monthly payments be on the balance $35,100?

A. We can't answer that because it will depend on how you borrowed the money, what interest rate you got, etc. A traditional mortgage won't likely be possible due to the amount (generally, anything less than $50k is not financable via a traditional mortgage), so financing will have to be via a line of credit of some sort (or checking account, IRA, etc.).


Q. So, what is the next step once I decide I want to buy the deal?

A. The next step is to commit to the deal by paying the assignment fee through PayPal at assignmentfee@gmail.com (or via the PayPal button on the deal page itself) to secure the deal for yourself...the first person to send their payment gets the deal – we cannot “hold” a deal for anyone. Once we get acknowledgement from PayPal that the assignment fee has been paid, we will contact you to get the rest of the documents to you that you need to complete the purchase.

From there, we hold your hand through the process…whether it’s a subject to deal or a cash deal. With a cash deal, we’ll make sure the closing gets coordinated correctly so that there’s no confusion. With a subject to deal, we coordinate that as well (mainly, your “closing” will be getting title insurance), but we also give guidance on how to record your new deed, get the utilities switched over, and get the property marketed for resale – either to another investor or to a rent to own tenant/buyer. If you need this marketing help with a cash deal too, we’ll provide it.

The idea is not to leave you to fend for yourself once we’ve collected our fee because we know that a lot of our buyers are newer investors who need this guidance…and we’re happy to give it. We’ve done this many times before and have lots of tools in place that we will give you to get the job done…it’s all laid out in black and white.


Q. Can we contact other VIP Club members directly?

A. Unfortunately, we do not have permission to share the contact information of our members and could be violating their privacy in doing so.


Q. What if I need help once our deal is done?

A. There is not much that you should need help with once we’ve sent you back the signed assignment form and a copy of the contract as well as all the marketing information we provide to you to get your deal resold and/or the property filled.

Any additional paperwork you need (for instance, in a subject to deal, this would include the new deed, power of attorney, etc.) will be given to you when it’s appropriate (as the deal progresses towards closing). For more information about what happens after the deal is done, please see the “What Now” FAQ page (coming soon!).

We do not intend to “babysit” anyone once our deals are done. We give you everything you need so that it’s all very clear. Our goal is to use everyone’s time – yours and ours – as efficiently as possible, which is why we’ve created these FAQ pages. Of course, should something out of the ordinary come up that you need our help with, we’re happy to do so.


Q. This is too good to be true!

A. It may seem that way, but it is not. We’ve simply come up with a revolutionary way to make money while still being able to help others do so too through education and letting them take advantage of our “deal gathering” abilities. Relationships and partnering up on deals is the easiest and best way to make a lot of money for everyone, so we know you’ll be happy with what we’re helping you to do – and we hope you tell your other business associates about us too.

And we’re happy to answer any questions about how we do things once you’ve taken the time to read through these FAQ pages. We put them here for a reason…to save all of us valuable time and get you on the road to making money much faster. But, if there’s something here that we haven’t covered, please let us know.


So, you’re not getting our VIP Club deal emails?

We've been facing technical issues with our email systems lately. This is a constant issue for us with technology advancing like it is.

Be sure you have us on your "whitelist" as it being "ok" to receive emails from us. You can go to this webpage we created to see how the main three providers set theirs up, which should give you an idea of what you'll need to do if you have a different email provider than the three listed on the following webpage:
http://www.wholesalerealestatedeals.com/whitelist.html

Another option to try is to setup another free email account through yahoo or hotmail, etc. and we can switch your delivery address to be whatever new address you give us. Make sure to include Mark@MarkEvansDM.com into that new address book as well as take advantage of any whitelist capabilities they may have AND making sure your s p a m settings are not set to be too sensitive.

We appreciate everyone's understanding as we weed through this technical stuff...technology is constantly changing and evolving, so we do our best to keep on top of it. We do the best we can, but it's advanced to the point where it tries harder NOT to let things go through rather than to LET them go through, so we have this kind of situation come up occasionally and battle it as best we can. We, ultimately, have no control over cyberspace, unfortunately. It’s just as frustrating for us as it is for you. All we can do is apologize and ask you to bear with us...we’re in the process now of switching to a new email service, so hopefully that will solve the problem, but the conversion will take a few months.

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