Summary of Wholesaling Gone Wrong: What To Do When a Buyer Steals Your Deal!

Video Summary

The video titled "Wholesaling Gone Wrong: What To Do When a Buyer Steals Your Deal!" discusses the challenges faced by a wholesaler, Angie Milazo, when a buyer attempts to cut her out of a real estate deal. The presenter outlines key strategies for protecting oneself in wholesale real estate transactions and provides insights into common pitfalls.

Main Financial Strategies and Market Analyses

Understanding Wholesaling Contracts:
- The use of A-B contracts (between the seller and the wholesaler) and B-C contracts (between the wholesaler and the end buyer) is essential.
- The wholesaler does not need to disclose their profit margin to the buyer, only the purchase price.
Importance of Memorandum:
- Filing a Memorandum with the county recorder can protect a wholesaler's interest in a property and prevent buyers from circumventing them.
Legal Recourse:
- If a buyer breaches the agreement, the wholesaler can pursue legal action (specific performance) against the buyer, although this can be costly.
Brand Building:
- Establishing a strong personal brand can deter unethical behavior from buyers, as they may fear reputational damage.

Methodology/Step-by-Step Guide

Steps to Protect Yourself in Wholesaling:
- File a Memorandum: Always file a Memorandum when entering a contract with a seller to protect your interest.
- Consider Legal Action: If a buyer attempts to cut you out, consult an attorney for potential Legal Recourse.
- Build Your Brand: Focus on creating a strong presence in the industry to discourage unethical behavior from buyers.

Presenters/Sources

The main presenter of the video is Pace Morby, who discusses Angie's experience and offers advice based on her situation.
Angie Milazo is the featured wholesaler whose story is used to illustrate the challenges and strategies discussed.

Notable Quotes

— 00:02 — « I'm going to do a docu series on how big of a piece of turd you are that you went around somebody's back that has been working for your butt for 2 and a half freaking years. »

— 05:40 — « Is Matt an absolute scumbag? Yes. »

— 07:35 — « You either move on and realize you were silly you didn't protect yourself, B you call an attorney and start spending money, or C you have a big enough brand that you can scare the lights out of somebody because they don't want to be put out online. »