Wholesale Asssignment

2 Replies

Hello everyone, I'm new and I'm starting out as a wholesaler, I need to know the basics,

How much money do I need to be the middle person?

If the cash buyer bails out am I responsible to purchase the property?

How many day of contingencies am I allowed?

Is it safer to use an agent and who actually pays the agent, the cash buyer or myself?

Where's the best place to find Cash buyers?

Thank You

@Danick St Jean Welcome to Bigger Pockets

I suggest you check out the free beginners & wholesaling guides under the learn tab above.

How much money do I need to be the middle person

you need money for marketing to find the deals and money for the earnest money deposit when you write a contract.

If the cash buyer bails out am I responsible to purchase the property?

That depends on how the contract is written. Generally no, but you would lose your earnest money deposit.

How many day of contingencies am I allowed?

There is no limit. It is a negotiation. The more you put in the more likely the seller is to reject your offer.

Where's the best place to find Cash buyers?

Go to the wholesaling forum by clicking forum categories under the forums tab above. Ther is a post at the top about finding buyers.

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