Tampa, FL · Member since 2019 · 22 posts · 31 votes
Hello BP community I wanted to ask those who are experienced in wholesaling a question. Do you know what it is and how it works? I am a little confused as to what this actually is.
Flipper/Rehabber · Oakland, CA · Member since 2019 · 30 posts · 18 votes
7y
Real estate wholesaling occurs when a party (the "wholeseller") contracts with a home seller, markets the home to potential buyers, and then assigns the contract to one of them. The wholesaler makes a profit, which is the difference between the contracted price with the seller and the amount paid by the buyer.
in simplest terms you're flipping contracts, by purchasing discounted properties and turning around and selling it to an investor.
Flipper/Rehabber · Oakland, CA · Member since 2019 · 30 posts · 18 votes
7y
Real estate wholesaling occurs when a party (the "wholeseller") contracts with a home seller, markets the home to potential buyers, and then assigns the contract to one of them. The wholesaler makes a profit, which is the difference between the contracted price with the seller and the amount paid by the buyer.
in simplest terms you're flipping contracts, by purchasing discounted properties and turning around and selling it to an investor.
So does this mean we tend to search for distressed properties or those under market value in order to try to make a profit off the sale of the contract?
Flipper/Rehabber · Oakland, CA · Member since 2019 · 30 posts · 18 votes
7y
You're simply looking for motivated sellers. Owners that are in a situation that requires them to sell there property in a short time, at a discount. Think in a perspective of situation, rather then the property condition. In what situations is the seller that requires them to sell their property? Example: Inheritance , Divorce, Tax delinquency, Absentee owner, Distressed properties, etc.