Updated over 10 years ago on . Most recent reply
Wholesaling
hello bp. I have currently been doing much research and been learning great things here about wholesaling and all types of investing. I thought I would get some input today about a few questions I had related to wholesaling. Let's say I am a buyer, and I have my own cash (say $80,000) and I am looking to do quick flips with this money by buying the property at a discount in cash, and selling it retail. Now this is what I'm curious to know, if I am a licensed agent, can I pay cash and immediately market the property as is, for full retail? It would be a double close but without the necessity of having an end buyer to cover funds since I would have it already paid in cash. Would banks have any issue lending conventionally to a buyer? There would be the quickest convenience for the seller being that I have my own money and it would also save money on the end of marketing to property if I am not mistaken? Wondering if anyone has any thoughts on this. I know people have mentioned that banks require sometimes a certain period of time for the seller to own a property before they will buy it also, is this true? Thanks!