Help! Being dragged kicking and screaming into my first wholesale

[Matthew Law]

Hey BP folks!

My wife and I are brand new at this. We were laser-focused on executing lease options in the "pretty houses" business in the Maryland-close-to-DC region, mostly because wholesaling just doesn't seem as appealing to us.

And here we are. Our first deal is going to be a wholesale, all because a friend from back home in WV found out what we were doing from our marketing on Facebook. Now we've landed a smoking hot deal buying her dad's house in Meadville, PA.

It's a duplex that needs work, but it's in a college town with decent rents. I've got it locked up for pennies on the dollar. I would love to buy, fix, and hold, but it's not in my backyard, and I haven't looked into how to make that work. So I think I have to wholesale.

Yeah, that just happened. Now, I have no idea what the heck I'm doing. This post is going to be a chronology of me stumbling and falling through this whole thing.

Here's what I've got (I welcome critique, questions, and/or assistance):

1. I worked up a contract from the default template on FreedomSoft. It is being signed today by the seller in PA, notarized, and mailed to me in Gaithersburg, MD.
   
   1. BTW I messed it up like 3 times and had to send it to the seller 3 different times.
2. I left the Title Company blank because I don't have one set up yet.
   1. Should I contact one near the seller or near me?
   2. Suggestions?
   3. What should I be asking title companies when I call?
3. Has anyone done a wholesale deal out-of-state like this before?

I don't have buyers in that area yet.

I don't have a title company.

I've got more. I'll post later. Thanks in advance for any input.

-Matt Law