Updated over 5 years ago on .
New help with wholesaling
Hello all,
I am interested in wholesaling, and I am here asking for advice and help. My goal is to one day make it a full time thing, hence, I have two jobs at the moment. I would like to own couple properties in the future as well.
So, I tried starting wholesaling before in the past, but due to the lack of knowledge and time, which brought down my confidence and made me unsuccessful. Now, I have a little more time than usual, and I am eager than before to start my career in it. I am ready to be fully committed.
Basically, if I can successfully close my first deal, then I know I can do the rest. I just need someone to help and walk me through my first deal. I will forever be grateful and definitely will share the profit. It will definitely be a game changer for me.
I have some questions:
when I get a house under contract, what is the next step that I need to make? do I need to research the title of the home? check for any leins? or etc. This is where I am mostly stuck at. I am knowledgeable enough to find a lead, but once I get it under contract, what is next?
Do I need an LLC?
what things would you recommend for setting up my business as a wholesaler?
How does escrow and the title company comes into play?
what are things that I need to make sure that I do in order to successfully get the deal done?
once I find a cash buyer, what should I do after that?
Advice on Earnest money?
Finally, any detailed advice to close out the deal?
What are advantages access of MLS?
Can I use expired listings on MLS to contact the owners for possible lead?
I know, I know, I am a hot mess. But these are the questions that I have so far, and its because of the lack of knowledge in these areas that caused me to not be successful when I first attempted.
Any information helps, and if anyone can help me understand these questions and more, that will help me tremendously. The more the details, the better.
Thank You very much, and God Bless!!