Real estate Wholesaling

[Dineo Siziba]

Good Day Bpers.

My name is Dineo from South Africa, and im very much interested in real estate investing .

as advised by Brandon before staring read a lotof books , which i am, im currently reading the ultimate guide to real estate investing .

I'm  not sure if reading correctly or not understanding wholesaling at all . i understand the contract part and so forth i just want to know if you assign the contract then who really owns the property ?. i also read that you don't need any money or maybe little money to go into it , here is my problem ,when you go looking for properties below market value these properties already have owners right ?so the property belongs to someone and i approach them and ask to sell that the property for them ,i then get the buyer and they buy the property and i get paid the fee . 

Who pays the fee ? the seller or the buyer?.

Please help me understand here is this much like being a real estate agent?.

.

[Jeremy Tillotson]

@Dineo Siziba There are a few different ways to do wholesailing. The owner has the property, you get a contract, and sell the contract to the end buyer, the end buyer will become the owner at closing. You would take a fee + your ernst money to assign the contract and you never have to go to closing. The buyer pays you the fee. Much different than an agent.