Teo
2.7K posts
@Studio28nyc
Former fact-checker and magazine writer w/ bylines in @nytimes + others.
Just for fun, I asked @grok to look into this. Here is its Final Takeaway from our private session: "What Jacob is doing is legally allowed but risks weakening the purpose and trustworthiness of the Due Diligence system. He got a fixer-upper under contract on the MLS, lined up another investor to take over the deal, and then used the Due Diligence period to successfully push the seller for a significantly lower price — not just to fix genuine inspection issues, but to increase his own wholesale profit margin before assigning the contract. While this is technically within the rules of the standard purchase agreement, many view it as exploiting the spirit of the Due Diligence period. Instead of treating DD primarily as a good-faith inspection window for material defects, he used it as a planned leverage tool (combining inspection findings with time pressure) to extract extra concessions after the seller was already committed. In options-trading language, he essentially bought a short-term call option on the house and skillfully managed the Greeks (especially Theta/time pressure and Delta/inspection leverage) to improve his spread before flipping the contract. Over time, tactics like this can make sellers more defensive, lead to tighter contracts, and reduce overall trust in the residential real estate process."
Fixer upper gets listed for $250k. I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer. Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs. Listing agent says too low. 4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low. Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work. I draft the offer, send it over, and it gets accepted. We price the deal at $190k and sell it — signed contract and EMD in hand. While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD. Seller meets us halfway. Price drops to $170k. We make $25k. That’s the exact play we run wholesaling MLS properties.
ENTIRELY fake news! At no point since President Trump was sworn back into office has the Trump EPA authorized the release of ANY genetically modified mosquitoes into Florida or anywhere else for that matter. So much fake news BS being peddled on social media for RTs, Likes, and engagement.
Just for fun, I asked @grok to look into this. Here is its Final Takeaway from our private session: "What Jacob is doing is legally allowed but risks weakening the purpose and trustworthiness of the Due Diligence system. He got a fixer-upper under contract on the MLS, lined up another investor to take over the deal, and then used the Due Diligence period to successfully push the seller for a significantly lower price — not just to fix genuine inspection issues, but to increase his own wholesale profit margin before assigning the contract. While this is technically within the rules of the standard purchase agreement, many view it as exploiting the spirit of the Due Diligence period. Instead of treating DD primarily as a good-faith inspection window for material defects, he used it as a planned leverage tool (combining inspection findings with time pressure) to extract extra concessions after the seller was already committed. In options-trading language, he essentially bought a short-term call option on the house and skillfully managed the Greeks (especially Theta/time pressure and Delta/inspection leverage) to improve his spread before flipping the contract. Over time, tactics like this can make sellers more defensive, lead to tighter contracts, and reduce overall trust in the residential real estate process."
Been doing it for 10+ years in Atlanta and have a great reputation in the market. We don’t do it with people we have relationships with. One-off’s everyone is looking to maximize their profit potential. If you don’t do this, you’re leaving money on the table. When a relationship is involved, people make different decisions to protect the relationship.
Just for fun, I asked @grok to look into this. Here is its Final Takeaway from our private session: "What Jacob is doing is legally allowed but risks weakening the purpose and trustworthiness of the Due Diligence system. He got a fixer-upper under contract on the MLS, lined up another investor to take over the deal, and then used the Due Diligence period to successfully push the seller for a significantly lower price — not just to fix genuine inspection issues, but to increase his own wholesale profit margin before assigning the contract. While this is technically within the rules of the standard purchase agreement, many view it as exploiting the spirit of the Due Diligence period. Instead of treating DD primarily as a good-faith inspection window for material defects, he used it as a planned leverage tool (combining inspection findings with time pressure) to extract extra concessions after the seller was already committed. In options-trading language, he essentially bought a short-term call option on the house and skillfully managed the Greeks (especially Theta/time pressure and Delta/inspection leverage) to improve his spread before flipping the contract. Over time, tactics like this can make sellers more defensive, lead to tighter contracts, and reduce overall trust in the residential real estate process."
Fixer upper gets listed for $250k. I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer. Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs. Listing agent says too low. 4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low. Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work. I draft the offer, send it over, and it gets accepted. We price the deal at $190k and sell it — signed contract and EMD in hand. While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD. Seller meets us halfway. Price drops to $170k. We make $25k. That’s the exact play we run wholesaling MLS properties.
Just for fun, I asked @grok to look into this. Here is its Final Takeaway from our private session: "What Jacob is doing is legally allowed but risks weakening the purpose and trustworthiness of the Due Diligence system. He got a fixer-upper under contract on the MLS, lined up another investor to take over the deal, and then used the Due Diligence period to successfully push the seller for a significantly lower price — not just to fix genuine inspection issues, but to increase his own wholesale profit margin before assigning the contract. While this is technically within the rules of the standard purchase agreement, many view it as exploiting the spirit of the Due Diligence period. Instead of treating DD primarily as a good-faith inspection window for material defects, he used it as a planned leverage tool (combining inspection findings with time pressure) to extract extra concessions after the seller was already committed. In options-trading language, he essentially bought a short-term call option on the house and skillfully managed the Greeks (especially Theta/time pressure and Delta/inspection leverage) to improve his spread before flipping the contract. Over time, tactics like this can make sellers more defensive, lead to tighter contracts, and reduce overall trust in the residential real estate process."
Fixer upper gets listed for $250k. I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer. Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs. Listing agent says too low. 4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low. Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work. I draft the offer, send it over, and it gets accepted. We price the deal at $190k and sell it — signed contract and EMD in hand. While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD. Seller meets us halfway. Price drops to $170k. We make $25k. That’s the exact play we run wholesaling MLS properties.
do you believe in channels ? $SPX $SPY $QQQ
“In 2022, New York lost billions of dollars in taxable income from residents leaving the state…The state recorded a nearly $10 billion decrease in annual adjusted gross income from 2021 to 2022, tax data shows, with an estimated 425,000 people departing.” Sadly, the mass exodus from New York will only continue with these failed tax and spend policies. msn.com/en-us/news/us/…
