My First Wholesale...Maybe?

[Ryan McIntyre]

Hi all,

I've recently acquired my real estate license here in Florida so I could have access to the MLS/maybe do a couple of sales, but my main interest is to start wholesaling to gain some capital for rentals. When I was searching through the MLS I found a foreclosure that I am considering for a wholesaling deal. The asking price recently went down after two months to 135k, and the comps in the same golf community have gone for around 155k-160k. I think I can make money for a flipper (once I find one) and myself if I can get my offer accepted for less than 120k (as there's hardly any work that a flipper would have to do to the property). Since this is my first time going through this I would like specific details about how the wholesaling process works. Do I call up the selling agent, make an offer? What kind of documents should I be using to cover my bases? What are the step-by-steps to get this deal done? I would really appreciate some advice in this and maybe some one you know who would be willing to do a deal with me? Thank you in advance for any time you put toward this!