Comments on: Wholesaling Real Estate Basics

By: Daniel Wiafe

Daniel Wiafe — Wed, 13 Jul 2011 03:45:38 +0000

I’m just getting into wholesaling… and am studying up a bit on it before I leap into it. The whole concept of it seems very simple & basic… with a lot of potential for huge money.

I know a good contract will have the contigencies in it that allows you to back out in case the deal sucks… but what are some of the risks of wholesaling?

By: Grow Income Property Cash By Wholesaling with Philly Wholesaler

Grow Income Property Cash By Wholesaling with Philly Wholesaler — Tue, 28 Jun 2011 17:13:14 +0000

[...] “A wholesaler should normally not ever buy a property.” stated Joshua Dorkin, owner of a real estate blog called Bigger Pockets. “You put properties under contract with a contingency and focus on quickly selling the property for more money to other investors. [...]

By: Iman Yusef-Yahya

Iman Yusef-Yahya — Fri, 21 Jan 2011 13:38:14 +0000

Straight, and to the point Josh – always:)

By: Joshua Dorkin

Joshua Dorkin — Tue, 18 Jan 2011 17:56:52 +0000

Sure thing Iman. We had someone asking about the basics of wholesaling this morning and I thought that sharing this one again would be beneficial to a lot of people.

By: Iman Yusef-Yahya

Iman Yusef-Yahya — Tue, 18 Jan 2011 16:31:16 +0000

Hey Jish,

Thanks for the post! This is a very clear and concise article on wholesaling real estate.

Iman

By: Anonymous

Anonymous — Mon, 14 Jun 2010 22:48:42 +0000

Thanks for the great info.

By: michael

michael — Fri, 21 May 2010 13:17:49 +0000

do I have to have money to get started in whole saling so what you are basicly saying is find and investor and make a deal with him and then turn around and sale to another investor and yu get whatever profit marjin you had in the deal.

By: James Mehoffer

James Mehoffer — Sat, 13 Feb 2010 01:12:05 +0000

This idea has helped me make several hundreds of dollars in only a couple years.

By: Jim Pitchford

Jim Pitchford — Mon, 01 Feb 2010 17:43:04 +0000

I have really decided to get involved in real estate wholesaling. I have experience in real estate retailing and flipping, and have invested in real estate and renovated. But, I really only flipped one house. I still own the ones I purchased. I want desparately now to wholesale, because of the need of cash and I have no job. I believe I know how to do it, but tell me if you were a beginner, doing your first house, where would you start?

1. Find a house to lock-up and contract?
2. Find a buyer and market? How would you maket?
3. No financing necessary if you lock-up a lease with option or assignment?

The 3-steps above are they essentially where you would start?

Thanks Jim Pitchford

By: Scott Costello

Scott Costello — Thu, 18 Jun 2009 00:55:58 +0000

Wholesaling is one of the best strategies to have in your toolbox. You won’t be able to handle every deal if you are say a rehabber, so being able to wholesale the property to another investor will allow you to make money on more properties. Good article!

By: Jeff trower

Jeff trower — Fri, 12 Jan 2007 18:34:52 +0000

I love this strategy for getting started, I this is how I got started and I am writing extensively about this subject. Like the two previous commentors have said, always have an attorney review your contract or use a double-escrow closing.

By: Virginia Beach Realtor

Virginia Beach Realtor — Fri, 08 Dec 2006 04:34:55 +0000

This is an excellent strategy, however most contracts used in Southeastern Virginia have clauses that restrict assignable contracts. Although, anything can be re-worded and agreed to by all parties (usually for a price), just make sure to watch your back as js.sellsius has illustrated.