Best wholesale contracts?

Question

Hi all,

I’m a new investor and I currently own 1 rental property. I’m considering getting into wholesaling. Where’s the best option to get the necessary wholesale contracts? I’ve seen a few options online from some of the YouTubers like Lili Thompson has a packet for like $300 and Jerry Norton service is $100 a month.

Thanks for any tips and advice

Brandon Vukelich · Answer

Use caution when buying other contracts, especially outside your state.  Best to hire a local RE attorney to help you draft the contracts you need applicable to your local state laws, many probably already have ones available.  Shouldn't cost you more than a few hundred dollars or so.  Keep in mind you're transacting in real estate which comes with a lot of liability.  You're not selling candy bars or an Xbox off Craigslist.  You need to invest in a good purchase & sale agreement and your assignment agreement.  Best wishes on your RE journey!

Ronald Rohde · Answer

TREC is great, but its just one tool in a wholesaler's box. We draft custom 3-6 pagers, which are either simple or more buyer friendly as well. Just depends on what situation requires it to get the seller to sign. We work with big wholesalers who whip out different forms based on the seller profile.

In addition, you need an assignment. Thats not available from TREC, so you need to decide A) are you getting paid on execution, B) closing, or C) double close. Lots to unpack and maybe a coach or mentor can help you decide.

Andrew Bang · Answer

Don't spend any money on them.   I've got some simple ones I can share, just shoot me a DM.   Now a days everyone has a realtor in the family, find the cousin that has their license and ask them to share the purchase contract they use.   In Texas, anyone can download one off of TRECs website, use it as a template.  www.trec.texas.gov and search one to four family residential contract

Best wholesale contracts?

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