Kicked from Flip with Rick discord…?
Hey guys. Hope you’re all doing well. Learned a lot about what I thought would be my potential first deal but it turns out from misunderstanding and me genuinely trying to learn understand what was wrong, I got kicked from the discord. The context was that I posted my deal to one of the server admins JV forms and was having a chat about my contract when I then was being prompted that my deal was shady and practically illegal. Here is verbatim the feedback i got (and my response in parentheses): 1. it is not turnkey, it needs a light cosmetic reno - (I mentioned it needed light cosmetic, I said turnkey from a copy and paste so that’s on me, but light cosmetic is mentioned) 2. If you put it on market, you need to make sure you have the correct contract because you are opening yourself for a lawsuit - (This property was agreed upon verbally on a contract price before they were “publicly” listed, but both the seller and realtor said they were on the MLS for 2 weeks prior to zillow saying so) 3. You are treating a cash deal as a novation, that isnt legal (my contract clearly states and/or assigns and the timing of them going public on zillow makes it look like a novation, but this was never the case and the seller and realtor knew I was making the contract assignable) 4. An investor needs a discount, you are allowing 0 discount (if my contract is overpriced I understand, simple as that) 5. This is a deal no jv person will touch because of all the illegal shady things with this deal (I found this lead as an “off market” high equity. When i texted the lead with sms blasting, i was referred to the agent. At the time, zillow did not have it listed but the agent was in the MLS for 2 weeks) After the discussion was concluded, I acknowledged I would take note of the feedback and just back out to be safe and then I was banned… Note, it was also mentioned I was marketing this illegal and in which case, I would understand if I had stated this was under contract which I made sure not to say and kept it vague like off market rental and opportunity until the verbal was agreed on. Even with the verbal, all I did was say the property and the numbers and asked others around if the deal made sense when they would ask for details.