Hello, so I have been to a couple of seminars. Only this pass recent one I went to spoke of Out Of Pocket cash to bring when its closing. The other seminars Ive been to never spoke of this, so Im confused. When its time to close is it the Wholesalers job to have closing costs? I guess I ask because, also at these seminars their saying "if you dont have money or credit wholesaling is a good start" but if I still need money at the closing how does this work for me? Thank you all for any and all input!
As a wholesaler you should never structure a deal that calls for you to pay for closing costs. You're simply assigning a contract that in most cases should call for the buyer to pay all closing costs.
A wholesaler typically wouldn't be paying the closing costs. Those would be paid by the buyer, seller, or both...depending on how the purchase contract is worded.
Thanks Daniel and Kyle!!!