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Is there a tangible agreement between you and me if I submit a wholesale real estate proposal to you with a bid, proprosal, and contract application for the needed, required, or desired labor and materials.
In essence, my question is whether I will receive any compensation if one of the investors associated with your group purchases the property, without the recommended repairs.

James replies:

I am assuming you are asking this because you are a handyman and want the repair work. If that is not the case, then let me know.

In that particular case, if they did not use you for the repairs, then you would need to formally wholesale the deal (have it under contract and make a profit from that). Simply bird-dogging the deal is not going to be sufficient enough in most cases to make a fee.

I do provide info on how to wholesale deals in the Wholesaler Control Panel if you are interested in learning how to do that.

Sincerely,

James

James,
As far as the no money down is
concerned. You as a licensed agent should know that in order for a contract to be binding, something of value must be exchanged.

Also I am a newbie wholesaler
learning, not yet transacted any contracts. But If I secure a
contract with a seller and contact buyers of my contract, they could go directly to the seller and give their own offer and sign a contract before my close date. You know, STEAL the deal. Everyone is not honest and no fool would buy a contract for a house that they haven't seen for themselves. Please explain how you work this?

James replies:

Yes, I agree with your first comment. That does NOT mean that it can't be no money down. I do discuss this particular topic in detail in my article on earnest money AND there are additional ways to handle this that I do not cover there as well (for example promissory notes) which is a little beyond the scope of discussion for this particular post.

In regards to your comment about people going around you:

Yes, this can happen ONCE with that buyer before you never contact them again and you tell all your fellow investors not to work with them. And, you can always address that issue in court if that is your prerogative (not that I recommend that).

So, yes... I am very aware that people can go around you on a deal despite agreements and contracts in place. You can fight to enforce your agreements and contracts in court too if they decide to do that. In my experience though, this is the rare exception and not the rule.

I DO NOT RECOMMEND THIS, but similarly: you actually can go around a real estate agent and get a contract directly with a seller instead of going through them, but that doesn't change the fact that their is an agreement between the seller and the agent.

People that do that, don't last very long in this business.

Sincerely,

James