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Updated about 3 years ago on . Most recent reply

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Cole Vanderwest
  • Wholesaler
  • Grand Rapids, MI
1
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Looking for someone with expieriance in wholesaling

Cole Vanderwest
  • Wholesaler
  • Grand Rapids, MI
Posted

Good afternoon all, I am trying to get into wholesaling and was hoping that someone would be willing to answer a few questions of mine.

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Bryant Brislin
  • Developer
  • Irvine, CA
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Bryant Brislin
  • Developer
  • Irvine, CA
Replied

@Antonyse Slaughter, you really should try to find a local or maybe non-local experienced wholesaler to partner with.  You really don't want to mess with people's lives (as far as the sellers) if you are this inexperienced.  I don't mean that as an insult, I'm really trying to help here.  The various states are starting to enact new regulation to curtail wholesaling since too many amateurs are causing problems for sellers by not knowing what they are doing.  To answer some of your questions, it's a contract between you and the seller, and then eventually you assign to a buyer.  Assignments are less complicated than double-closings, yes.  You can't assign to a title company, so not sure what you mean by that.  Also, you could join some type of mentorship program to make sure you have someone guide you through the process.  This business is very, very complicated, there are so many curve balls that get thrown your way and you'll need someone who knows what they are doing to advise when a seller doesn't perform, a buyer doesn't perform, title/escrow issues, and various other pitfalls.  

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