Do I need a realtor license just to assign or wholesale property in Indianapolis. Where can i find a template of contracts and what clauses should be in my contracts?
You don't need a license to do wholesaling. I've done wholesaling in Indianapolis. I have a set of contracts that I can send you. Send me an e-mail and I'll get them to you.
Roland Paicely-(Real Estate Roland)
@Anthony Fleming one of the biggest issues I've found trying to buy from wholesalers using assignments is that they don't educate the seller very well and that lack of communication ends up destroying the deal.
Be sure you let the seller know that you will be bringing "your partners" and/or contractors through the home for quick inspections. Get a lock box on the home if it's vacant.
The other big hurdle I've found is the rehab estimate is way too low, which kills the deal as well. I'm a firm believer of getting ones hands dirty to get the proper education. I believe there is a BP Podcast that suggested a wholesaler do a small rehab first to become a better rehab estimator and wholesaler. I totally agree. Find yourself a small, low cost property and do a simple rehab then sell it. You will get a ton of education from this and be able to provide a much better rehab estimate to buyers like me.
Sean Terry has several great, free, podcasts about wholesale at flip2freedom.com
Ok I've got you. You answered my next question perfectly because after doing a little research I found out the wholesale equation and I realized that the numbers have to add up for the deal to make sense on both ends but as far as staying good with buyers Communication is key..
@Anthony Fleming I have some contracts I can send to you. Feel free to email me, or PM me with any questions you have. I am wholesaling right now in Indianapolis.
@Shawn Holsapple I am considering taking your advice and getting my hands dirty on my first rehab rental flip/wholesale. I agree that it will be a great learning experience.
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