Real Estate Investor · Largo, MD · Member since 2008 · 2 posts · 0 votes
its this property i am about to get under contract for 15000 in baltimore city. once i get the contract, what do i do from there? once i sell the contract whats next?
It's really up to you what you want to do after you have it under contract. You can either assign your contract for quick cash, or if you have some capital you can fix it your self and sell it a the retail value. So if you have this property under contract and (im assuming you did your due diligience)on it to see if it fit's your investor's buying criteria. I would assign the contract get my money and move on to the next.
If you haven't rehabbed before and not ready to get into it, your best option will be to assign your contract. If you bought it right, you should be able to call a few "we buy houses" ads in your area and find a buyer.
its this property i am about to get under contract for 15000 in baltimore city. once i get the contract, what do i do from there? once i sell the contract whats next?
Your question makes me a little nervious. Are you saying you do not understand your exit strategy? Have you read any books on wholesaling?
The market you are buying in is pretty cheap. There are also some sharks operating in those waters. Focus on doing a clean deal and getting out without pain even if you do not make a killing. Wholesaling is not about making a years income on 1 deal. It is about getting in, getting out and moving on with a bit more money in your pocket.