Looking to start wholesaling!

[Allen Lucas]

Hello BP. I'm in the Maryland area and I'm looking to start my LLC and get started with wholesaling properties to gain capital for bigger deals in the near future. I have an idea of how the process for wholesaling goes but I don't have a clue how I want to start. I want to know what is required in order to assign contracts. How do I put myself in the position to be the middle man without owning the property and taking up the loan? I need to know this stuff in a short period of time because I need to fix a vacant property that's been off the market for over a month now. It's valued too high to Quicksale without owing on the existing loan and I don't want it to foreclose. It's condition isn't good enough to rent to section 8. And nothing but undesirable potential tenants have been showing interest. Need immediate help. Any experienced investors that can share some knowledge would be appreciated.

[Linval T.]

@Allen Lucas

Welcome to the vibrant BP community. Your time here will be well spent.

Since your interest lies in wholesaling, below are some links to get you on your way. 

Take some time to digest this information and don't be shy in returning to this forum with your questions.

https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)

https://www.biggerpockets.com/renewsblog/2015/10/15/bp-podcast-144-getting-out-of-your-comfort-zone-and-kicking-butt-at-real-estate-with-danny-johnson/ (wholesaling tips)

https://www.biggerpockets.com/renewsblog/2014/10/09/getting-started-real-estate-wholesaler/ (BP Podcast 091 Wholesaling)

https://www.biggerpockets.com/renewsblog/2013/10/31/wholesaling-podcast-mike-nelson/ (BP Podcast 042 - wholesaling)

https://www.biggerpockets.com/renewsblog/2013/08/29/flipping-wholesaling-plan-sam-craven/ (BP Podcast 033 - wholesaling)

https://www.biggerpockets.com/renewsblog/2013/08/15/wholesaling-business-lamar-cannon/ (BP Podcast 031 - wholesaling)

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https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/

REI books suggested by BPers

https://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)

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