What is the difference between flip and whole sale?

3 Replies

I want to know the  different approaches into real estate without credit or money down...birdogging? fix flip whole sale? Im aware of need end buyer for this. 

Good Afternoon Nathan,

Wholesaling is getting a property under contract and then have a double close executed ASAP to make money as quickly as possible using no money of your own. Money needs to be left for other investors to make a profit on the sale of your wholesale.

Flipping a property would include doing renovations and selling the home closer to its retail price. More time and money is needed to do a flip.

Let me know if this is helpful or not.

You actually don't have to do anything to a flip, but most people do some improvements.  The big difference in a flip, you actually pay money (either yours or a loan) at closing and  take possession of the house for some period of time usually several weeks to months and then resell it.

In wholesaling, you either assign your right to the contract for a fee to the end buyer and they close the deal, or you do a double close where you buy the house in one office then run to the office down the hall and sell the house immediately to the end buyer or the equivalent within minutes or maybe an hour or so. 

both are helpful, Im on both and it seems, Im trying to get a house with some kind of loan with no credit and no cash, just lenders support for me to go through the process, I get someone to rehab for me then I put it on MLS with agent or put it on wholesale to end buyer. It sounds right for me. Other thing that I can find properties for end buyer. Any ideas for me to do something from the stratch?

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