Frequently Asked Questions

Q: How are the properties on this website different from those on other sites?

The wholesale deals on this site come from other local investors. Typically, these properties are not listed in the MLS, the newspaper, or the foreclosure list. Therefore, there is less competition for you. This allows you to buy them at a greater discount. In addition, a wholesale deal must have room for at least a $15,000 profit for it to be placed on this site.

The motivated seller leads on this site are typically not from the MLS, the newspaper, or the foreclosure list either. The motivated seller leads on this site are "under the radar" as many investors like to say. These are pre-foreclosure deals that you can fix and flip, fix and rent, short sale, or wholesale for large profits. These sellers need to sell fast and are typically willing to accept a low offer.

Q: How do I profit from the deals on this website?

Step 1: When you see a property that you like, you call the seller to ask questions about the property and to schedule a time to view it. The seller's phone number is listed next to each property.

Step 2: You negotiate directly with the seller and close to buy the property. You don't have to talk to us. We are not middlemen. Our job is to round up information on these bargain-priced properties and deliver them right to your computer screen.

Step 3: You fix and re-sell, fix and rent, wholesale, or short sale the property. You keep all of your profits. We do not get a percentage or other fee when you buy or sell.

Q: Can I buy the properties on this website even if I have bad credit or no money?

There are several solutions. You can:

• Borrow money from a hard money lender. Once you become a Premium member, you can view the contact information for a local hard money lender. Hard money lenders are less concerned about your credit or income. They're much more concerned about whether or not you're buying at a discount. This is the most common way that our members finance these houses.
• Take out a traditional loan from Bank of America, Wells Fargo, etc. Of course, these companies want you to have good credit or income. And they can take too long to close.
• Use your own cash.
• Bring in a partner and use his or her cash. You'll likely have to split the profits though.

Q: Do I need a real estate license to buy and sell these properties?

If you're buying and re-selling or leasing properties for the interests of yourself or your company, you do not need a license. You only need a license when you're representing a buyer or seller in a transaction, which is what Realtors do, not investors.

Q: Why would an investor wholesale a property when they could fix it up and sell it themselves?

Investors who post discounted properties for sale on this website want to focus on what they do best: Finding properties at huge discounts.

They save time and energy by selling it to you AS IS quickly and easily and then moving on to the next deal. Some wholesalers have gotten so good at wholesaling that they prefer it over rehabbing (fixing and re-selling). Most investors rehab some houses and wholesale some houses.

Q: Are the wholesalers truthful about the cost of repairs and the after-repaired value (ARV)?

This listing of bargain-priced properties is NOT perfect, mainly because some wholesalers aren't truthful about repair costs and ARVs. Wholesalers naturally want to make their properties seem appealing. And some of them do this by underestimating the cost of repairs and by over estimating the ARV.

For your own sake, you should do your own due diligence by pulling your own comps and doing your own estimate of repairs. Don't just accept their numbers at face value. The best strategy is to ignore their repair and ARV estimates and make them an offer based on your numbers. Many wholesalers will accept an offer price up to $10,000 BELOW their asking price. So be sure to make an offer!

Q: Are there enough properties listed on the website for all members?

The bottom line is that there are more properties flowing through this site than our members can handle. We recently talked to an investor who has bought 35 properties from this site over the last three years. We did some calculations and discovered that his purchases amount to far less than 1% of all properties that have been posted. It's more like .01%. With these many properties flowing through the site, there's enough deals posted for everyone.

Q: Are the testimonials even real?

Would you believe this is actually THE most common question that investors ask when they visit this website? And we don't blame them for asking! We would wonder, too. So to answer your question... Yes, the testimonials are real. And we would NEVER post a fake testimonial because:

1. Posting fake testimonials is not ethical. That's enough reason for us.
2. A LOT of investors know who we are. We feel that we have a pretty good reputation with them, and we'll do anything that we can to protect that reputation. One way that we protect it is by only posting REAL testimonials.
3. Posting fake testimonials is a federal crime. Buying houses seems like a lot more fun than getting thrown in the pen!

Investors are making gobs of money from this website. That's why people like you sign up, and that's why people like you stay.

Q: What's the catch? Why are you giving me a FREE account?

We are shamelessly attempting to get you "addicted" to these money-making deals. If these deals can put thousands, tens of thousands (or more) dollars in your pocket then you'd be silly not to upgrade your free account to Premium and be the first to gain access to these deals, right? Of course.

But on the other hand, if these deals don't deliver the goods then we don't deserve your money. It's as simple as that. This way you're the sole judge and, if need be, executioner.

Q: Why do you require a credit card to view the PREMIUM properties?

It costs us to provide this service to you (we have over 17 employees) and so we must limit our Premium status properties to paying members.

Q: Will I be locked into something that I can't get out of?

When you upgrade to Premium, you get to select the billing package that best suits your needs. You can currently select a month-long, 3 month-long, and year-long membership package. You can cancel at any time. If you decide not to cancel your account after your initial billing term, your subscription is renewed monthly at the promotional monthly rate for your package.

Q: How do I cancel the service?

It's easy. Click on the contact us link (it's on every page of the website!) to send us an email with your request. Your account manager will process your request within 24 hours. If you prefer other contact methods, you can call us at 800-973-1180, fax us at 713-942-0704, or mail your cancellation request to 1302 Waugh Drive, 812, Houston, TX 77019-3908.

If you request to cancel your account, we will do so immediately for several reasons:

1. It's unethical to bill someone without their authorization.
2. Unauthorized billing would damage our reputation and hurt referrals dramatically. We rely on referrals.
3. We would lose our merchant account which allows us to charge credit cards. So it would put us out of business.
4. It's illegal not to! We're not interested in fines or jail time, just providing a high-quality list of bargain-priced properties that you can profit from.

Here's what past members of myHouseDeals.com who cancelled their account have to say about the cancellation process...